• Sun. Aug 14th, 2022

Daily Bitcoin, Ethereum, Gnosis, and Optimism Price Analysis – July 29 Roundup

ByHazel R. Lang

Jul 30, 2022

There has been an uncertain situation in the global crypto market as different coins have shown different trends. Bitcoin is bullish as its gains continue, while Ethereum has turned bearish. The changes for the following coins also show different patterns, thus causing uncertainty about the direction of the market. If losses dominate, it will pull the market back down, while if gains continue, it will help the market avoid a lasting lag. It remains to be seen what the result will be.

FTX has been given the green light to work in Dubai. According to the available updates, the exchange has been approved to operate as an exchange and clearing house in Dubai, United Arab Emirates. FZE, a subsidiary of FTX Europe, has obtained approval to enter the MVP (Minimum Viable Product) program. Dubai created this program in March to facilitate exchanges and companies offering digital services.

Dubai aims to become a crypto and digital asset hub. The Dubai World Trade Center affiliate agency regulates crypto services. In the initial phase, the regulator aims to select responsible players to improve the country’s crypto-economy. FTX is the first of its kind to receive this license in Dubai.

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

BTC still at $23,000

Bitcoin is facing a difficult situation as it made several attempts to break through $24,000 but was unable to continue. These changes brought him to his goals, but the momentum could not be maintained. Whether this is a new resistance test or a breakout remains to be seen.

Source: Trading View

The latest data for Bitcoin shows that it added 0.08 in the last 24 hours. The previous hours kept it bullish as it held onto the gains. The increase helped it stay in a stable range.

The Bitcoin price value is around 23,814.73 and could rise further. The market capitalization value of Bitcoin is estimated at $455,033,900,433. Bitcoin’s 24-hour trading volume is approximately $35,614,151,835.

ETH turns bearish

Ethereum has seen a massive increase in address activity, leaving experts puzzled. According to available updates, the impending merger has improved various metrics for Ethereum. The spike in address activity came last week, while on-chain experts are still pondering the reason.

ETHUSDT 2022 07 30 07 29 48
Source: Trading View

Ethereum’s value has seen fluctuations as it could not hold onto the gains. The latest data for this coin shows that it has retreated 0.20% in the last 24 hours. In comparison, the weekly performance shows a gain of 9.38%.

The recent drop took its price value to $1,709.78. If we compare the market cap value of this coin, it is estimated at $208,160,247,202. The 24-hour trading volume of this coin is around $23,023,597,478.

GNO unable to keep winnings

Gnosis’ value continued to decline as it could not hold onto the gains. The latest data shows that it has lost 0.54% in the past 24 hours. The weekly performance shows an addition of 8.09%. The price value of this coin is in the range of $162.96.

GNOUSDT 2022 07 30 07 30 19
Source: Trading View

The market capitalization value of GNO is estimated at $420,361,271. The 24-hour trading volume of the same coin is around $4,644,440. The same amount in its original currency is approximately 28,501 GNO.

The OP continues to grow

Optimism continued to grow even though the rest of the market did not see much improvement. The latest data shows that it has added 12.91% in the last 24 hours. Weekly performance shows it gained 100.31%. Recent gains have taken its price value to the $1.75 range.

OPUSDT 2022 07 30 07 32 23
Source: Trading View

The market cap value for OP is estimated at $411,832,467. The 24-hour trading volume of this coin is around $909,098,719. The circulating supply of this token remained 234,748,364 OP.

Final Thoughts

The global crypto market has seen a situation of uncertainty. These changes have resulted in different trends for different coins. Bitcoin advances as Ethereum saw red. There was no big change in the value of the global market capitalization. It is currently estimated at $1.10 trillion. If the market remains bullish, it should rise further.

Disclaimer. The information provided is not commercial advice. Cryptopolitan.com accepts no responsibility for investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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