Bitcoin, Ethereum, Nexo, and Holo Daily Price Analyses – 31 July Roundup

The global crypto market has remained bearish over the last day, but there have been attempts to turn it bullish. Various coins like Bitcoin, Ethereum, etc., have made attempts to regain momentum. They have been successful in reducing their losses, but they will need to consolidate gains to move ahead. The change in pace will give the market the required momentum for recovery. It is yet to be seen how the investors will respond to this situation.

Though various companies in the market haven’t been able to maintain gains, the influx of newly founded companies continues. Dragonfly Capital has led the $3.5 million seed fund for Debt DAO. Debt DAO is a crypto credit protocol that will offer credit services to its customers. It provides revenue-based financing to crypto-native entities. The smart contract that it uses is named Spigot.

According to the company, Spigot secures a borrower’s on-chain cash flow for the automatic repayment of lenders. Other companies that participated in the funding round were GSR, Numeus, Fasanara Capital, etc. According to the participants, debt is one of the main requirements missing from DeFi. Debt DAO will attempt to fill this gap through its services.  

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

BTC still at lows

Bitcoin miners have seen improvement in their gains as the market has taken a positive trajectory. But there are some things that might affect them, as these include inflation, price corrections, etc. If these continue to happen, this might result in a reverse exodus of investors.

BTCUSD 2022 08 01 06 56 49
Source: TradingView

The latest data for Bitcoin shows that it has receded 1.47% over the last 24 hours. The weekly performance shows an addition of 5.54%. It needs to retain the influx of gains to keep the investors.

The price value for Bitcoin is in the $23,400.50 range. The market cap value for Bitcoin is estimated to be $447,158,610,123. The 24-hour trading volume of Bitcoin is about $23,412,130,130.

ETH trying to gain momentum

Ethereum has finally been able to continue in the right direction. The delay of merge had kept it at lows as its price was at the $1.05K range the previous month. The news regarding merge and steps towards it has helped it recover value, and it continues to thrive. The merge might bring it even higher.

ETHUSDT 2022 08 01 06 57 14
Source: TradingView

The value of Ethereum has also seen changes as the market has continued to fluctuate. The latest data shows a loss of 0.41% over the last day. The weekly performance shows an addition of 9.80%.

The price value for ETH is currently about the $1,693.92 range. The market cap value for this coin is estimated to be $206,283,365,573. The 24-hour trading volume for it is about $14,241,280,292.

NEXO stays bearish

Nexo has performed bearish as it couldn’t retain its gains. The 24-hour data shows that it has regressed by 2.07%. In comparison, the weekly data shows an addition of 6.67%. The price value for this coin is in the $0.7219 range.

NEXOUSDT 2022 08 01 06 57 45
Source: TradingView

If we look at the market cap value for NEXO, it is estimated to be $404,276,107. The 24-hour trading volume of this coin is about $7,958,824. The same amount in its native currency is about 11,024,500 NEXO.

HOT in full swing

Holo has continued to gain value as investors have continued to favor it. The latest data shows that it has added 2.22% over the last 24 hours. The weekly performance also shows bullishness as it added 12.21%. The increase has enhanced its price value to the $0.0023 range.

HOTUSDT 2022 08 01 06 59 25
Source: TradingView

If we take a peek at the market cap value for HOT, it is estimated to be $398,751,819. The 24-hour trading volume of this coin is about $37,920,110. The circulating supply of this coin is about 173,342,974,127 HOT.

Final Thoughts

The global crypto market has seen a continuation of fluctuations in the market. These have kept coins like Bitcoin, Ethereum, etc., bearish while some have continued bullish. The changes in the market have also had impacts on the global market cap value. It is currently estimated to be $1.09 trillion, as it has seen little change. The ongoing hours will decide whether it goes lower or enhances, as the market mood might change.