Bitcoin, Binance Coin, Avalanche, Polygon MATIC Daily Price Analysis – 31 December Roundup
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TL;DR Breakdown
- Global market cap improves as the year ends, gains 0.40% in the last 24 hours.
- Bitcoin has lost 0.31% in the last 24 hours, taking its price to the $46.8K range.
- Binance coin has gained 1.21% in the last 24 hours.
- Avalanche and Polygon gain, adding 9.81% and 1.61%, respectively.
With the close of 2021, new changes are taking place in the market. The mentioned year was prosperous for the market, but on the other hand, it brought the market new challenges. Especially it was the closing quarter of 2021 that brought continuous recessions. The major sufferer was bitcoin which was affected more than any other coin. And the same continues as the clouds of recession are still lingering about it.
The loss of 0.40% on the side of bitcoin in the last 24 hours shows that the situation hasn’t been well yet. If the investors are certain of their gains, they will invest in bitcoin. Otherwise, it will see a further recession. The lengthening cycles of bitcoin’s loss and gain show that 2022 might continue to test its strength. If the same happens, it will see a tough time because it has already lost track of the goals it was supposed to achieve in 2021.
The new year will also bring regulations in the form of laws in various countries, limiting the freedom that the crypto industry is enjoying these days. As the new year sets in, every blockchain system will be innovative and bring some new changes. A link in this chain is Shiba Inu’s beta version of DAO. There are more others expected to come to the market.
The trending fact about crypto in 2021 was volatility, and now it is to be seen how 2022 sees the industry.
BTC bearish on the year’s close
In contrast to others, bitcoin’s mood is bearish as it depreciates. At the close of the year, bitcoin has lost 0.31%, and its price is about $46,801.80. In comparison, bitcoin’s losses for the last seven days are about 8.38%.
The previous recessions have shown that if bitcoin goes off-track, then there are chances that the rest of the market follows. If the same happens this time, it will be a meaningful change in the market’s mood as it fluctuates. The market’s current mood is fine, but it might follow bitcoin.
The current market cap for bitcoin is about $885,319,288,665, while the trading volume during the last 24 hours is $37,372,467,342. The mentioned amount for trading volume for bitcoin is about 758,526 BTC.
Bitcoin might soon recover if the investor mood changes and invests in it.
BNB leaping to progress further
Binance Coin seems in the mood to recover the losses that it suffered during the recent dip. Binance Coin would have added significant gains if the market wasn’t volatile. Despite the fluctuations and changes in the market mood, Binance’s performance has remained relatively good.
The current price for the Binance coin is about $517.89, which saw a rise of 1.12% in the last 24 hours. Compared to the loss of 5.02%, this performance is relatively better, and it can gain further. The current market cap for Binance coin is estimated to be $86,385,302,911.
If we have a peek at the trading volume for the same coin, it remained $1,947,530,614 during the last 24 hours.
AVAX adds an immense amount of gains
Avalanche has been the gainer in the closing days of 2021. Though suffering short-lasting dips for a couple of days, Avalanche has performed better. The 24-hour increase in Avalanche’s price is about 9.81% compared to the 7-day loss of 2.18%.
The current price for Avalanche coin is about $110.67, while the current market cap is about $26,917,128,789. Avalanche is currently ranking 10th on the global level. In 2021 it gained significant amounts and leapt from late 20th to top 10. Though the current position has been contested by Shiba Inu, Dogecoin, and Avalanche, the latter has clinched it in the closing days.
The trading volume for Avalanche during the last 24 hours is estimated to be $1,338,755,625.
MATIC steadying itself
Polygon MATIC has been among gainers in the close of 2021. The mentioned coin has gained 1.61% in the last 24 hours compared to 2.13% during the last seven days. As per the latest updates, Polygon‘s current price is about $2.57, while the trading volume during the last 24 hours is $1,631,231,521.
The current market cap for 14th ranking Polygon is about $18,402,346,084. If there is some innovation in the Polygon blockchain, it is expected to add further gains.
Final Thoughts
The market’s current mood is bullish as the year is coming to a close, but it is yet to be seen how 2022 will treat it. There is no surety if 2022 will continue to be volatile for the market or bring stability. Investors hope it will be different from 2021, which tested their nerves with repeated changes.
The challenges that the crypto market faces in 2022 are Covid-19, state regulations, and possible recessions like 2021. Even though the start is challenging for the market, experts hope to bring good news to the investors.
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