Convex Finance, Binance Coin, Arweave, and Bitcoin – Daily price analysis for 22 March

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  • The global crypto market is experiencing growth, gaining 1.55% over the last 24 hours.
  • Bitcoin has gained 1.83 percent in the previous 24 hours.
  • Binance Coin also gained 1.13% in the past 24 hours with a lowered vigor, but it has a lower price.
  • Twenty-four hours ago, Convex Finance was up 1.73%, while Arweave was down 3.30%.

Crypto markets have remained bullish since the beginning of the week, but the gains have slowed with time. Although the second day of the week was productive for the stock market, it failed to deliver improvements as expected. Instead, the gains were reduced when compared with the previous two days. As evidenced by Bitcoin’s trajectory, the pattern is changing. The situation is unclear, but there is a chance that the dominant way might turn bearish.

The El Salvadorian government has clarified its planned Bitcoin bond issuance. Because of the possibility of changes in the government’s intentions, the delay regarding the distribution of Bitcoin created confusion among investors. 

The finance minister said that bonds would be issued but has not stated how they would be structured. He responded that they were waiting for the right time to give these bonds. An unfavorable crypto market could lead to losses, as experts believe the cause for the delay.

Additionally, Honduras has indicated its willingness to accept Bitcoin as legal tender. Though it is unclear when this change will occur, it is likely to happen soon. A brief overview of the current market situation using Bitcoin, Binance Coin, and other names is presented below.

BTC on the Verge of Reaching New Heights

In continuation of the unimpeded market, Bitcoin was expected to reach new heights. The result was historical gains since the previous few months were bearish. The persistent bearishness reduced investor trust. Minor rallies in the value resulted, but no significant changes occurred.

BTC/USDT  price chart. Source: TradingView

Investors have become more confident following the recent market changes. This prompted Bitcoin’s price to increase from $38K to $42K.According to the data, Bitcoin has gained 1.83 percent in the last 24 hours. This is an even better performance, with a seven-day gain of 2.48 percent.

Its price has risen to $42,435.50 as a result of the new gains. Bitcoin’s current market capitalization is approximately $805,901,329,261 and its 24-hour trading volume is approximately $31,994,568,178.

BNB Reduces Vigor

The value of Binance Coin’s new gains has also been lowered. A vigor was seen in new additions to its market value compared to the last 24 hours. The reduction in this value might be attributed to the failure of the rapid rise expectations.

BNB/USDT  price chart. Source: TradingView

Binance Coin’s performance over the last 24 hours has gained 1.13%. Comparatively, it has gained a lower amount than Bitcoin. By comparison, its performance during the week is higher, with 6.09%. The cryptocurrency currently trades for $405.14 on the open market.

Binance Coin is estimated to have a market cap value of $66,895,171,178. The 24-hour trading volume for this coin is approximately $1,758,836,534. The amount is approximately 4,341,321 BNB when converted to Binance’s native currency.

CVX Varies Gain Pattern

Furthermore, Convex Finance also maintained gains as the market remained favorable. Due to investors’ willingness to buy, gains are expected to continue. For the last 24 hours, its performance shows that it has gained 1.73%. In comparison, the gains over the previous seven days are about 16.20%.

CVX/USDT  price chart. Source: TradingView

The market cap for this coin is estimated to be $1,134,493,083.Convex Finance, on the other hand, has a 24-hour trading volume of approximately $13,715,368. The circulating supply of this coin remained at 54,840,339 CVX.

The graph for CVX shows that it fluctuated wildly a couple of days back, lowering the value. The start of the new week has taken it back to the previous highs.

AAR Succumbs to Losses

In a bullish market, Arweave is one of the losing coins. This coin has lost 3.30 percent in the last 24 hours, contrary to the dominant trend. When compared to the previous week’s performance, it has increased by 4.32 percent. It is currently priced around $32.24 USD.

AAR/USDT price chart. Source: TradingView

If we look at its market capitalization, it is estimated to be $1,074,111,311. In comparison, Arweave’s 24-hour trading volume is estimated to be $61,930,554. Its circulating supply remained at 33,394,701 AAR.

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