Bitcoin, Ethereum, Chainlink, and Stellar Daily Price Analyses – 29 August Roundup

The global crypto market has seen a sudden change in performance due to an influx of capital. The recent changes show that the regain of value came in a surprising manner. The market had lingered in losses for a while, but it came as a relief. The ongoing changes have greatly enhanced the value of Bitcoin, Ethereum, and others. As the positive changes continue, the market will see an overall enhancement in value.

Dubai has plans to push out new crypto marketing rules to safeguard investors. Dubai is expected to soon launch a licensing program that is mainly directed toward crypto space service providers and regulators. The said regulations will introduce marketing and advertising rules for the industry. The virtual asset regulatory body VARA has proposed new guidelines on marketing, advertisements, and crypto promotion.

VARA has clarified all forms of outreach, including distribution of information, raising awareness, customer engagement, investor solicitation, etc. Once the guidelines have been issued, the advertising platforms will have to ensure factual accuracy along with promotional intent. The main idea is to ensure that the promotion does not deceive the customers. As all VASPs are required to follow the guidelines, there will be little chance that potential customers will be misled.

Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.

BTC above $20.2K

Bitcoin has shown promising results as it was expected to do. According to available information, 140,000 BTC from Mt Gox will soon flood the market. Mt Gox case had finally reached a settlement and the BTC owed to the creditors are likely to be paid out soon.  

The recent changes for Bitcoin show speedy changes in value. The latest data shows that Bitcoin has added 3.11% over the last 24 hours. The weekly data shows that it has shed 5.31%.

The price value for Bitcoin is currently about $20,237.14. The market cap value for BTC is estimated to be $387,799,785,584. The 24-hour trading volume of this coin is about $32,136,126,712.

ETH in a gaining mood

CME has added Euro-denominated Ethereum futures as the merge approaches. According to the available updates, the world’s largest derivative exchange has launched another cryptocurrency product. The said addition is a big gain for Ethereum before the merge takes place.

The value of Ethereum is also on the rise due to the bullish market. The latest data shows that it has added 7.65% over the last 24 hours. In comparison, it has shed 5.42% over the last seven days.

The price value for ETH has enhanced to the $1,541.16 range. The market cap value for this coin is estimated to be $188,658,831,142. The 24-hour trading volume of this coin is about $17,155,930,553.

LINK gains traction

Chainlink has also gained traction due to the growing market. The latest data shows that it has gained 6.88% over the last day. The seven-day data for this coin shows that it has regressed by 6.10%. The price value for LINK is currently about $6.67.

The market cap value for Chainlink is estimated to be $3,282,124,920. The 24-hour trading volume of this coin is about $270,288,576. The same amount in its native currency is about 40,484,095 LINK.  

XLM regaining value

Stellar has also been in gains due to a favorable market. The recent changes show that it has added 3.36% in the past 24 hours. The seven-day data shows that the losses amount to 4.03%. The price value for XLM is currently about $0.1055.

The price value for Stellar is about $2,669,82,201. The 24-hour trading volume of this coin is about $111,332,100. The circulating supply of this coin remained at 25,275,517,716 XLM.

Final Thoughts

The global crypto market has seen a speedy improvement in value over the last 24 hours. The recent changes have brought Bitcoin, Ethereum, and others to a gaining position. As the influx of capital has continued, the market has made attempts to recover from losses. The global market cap value has also seen a slight improvement. The latest data shows that it is currently estimated to be $984.23 billion.