The changes in the global crypto market have continued as there has been a fluctuation in the value of different coins. The difference from the last day is the change in pattern as all major coins, including Bitcoin, have turned bullish. While the following ones are receding their gains, effectively moving towards losses. As the market has remained unstable, it is a continuation of the losses pattern.
Many crypto companies have come to the rescue of collapsed crypto companies. The main aim of this support is to extend a helping hand to those projects facing problems. The latest on the list is Polygon Studios, whose owner Ryan Wyatt has announced the rescue of Terra projects. The collapse of Terra resulted in the loss of billions of dollars while its impacts continued on the market.
As Polygon goes for the rescue of Terra projects, it will give the market a sense of security and increase investor trust. The initiative from Binance, FTX, and other major names has improved the market.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC continues to recede
According to Changpeng Zhao, the CEO of Binance, the users of their blockchain have voted in favor of keeping free transactions to Bitcoin. According to the official sources, a poll took place for Binance users, which asked whether to maintain or abolish the free transactions where the prior was affirmed.
The latest data for Bitcoin shows that it has shed 0.56% over the last day. If we compare its performance for the last seven days, Bitcoin has added 12.18%. The latter value has remained consolidated.
The price value for Bitcoin is in the $21,529.11 range. If we look at the market cap value for Bitcoin, it is estimated to be $411,073,062,457. The 24-hour trading volume of Bitcoin is about $29,275,840,832.
ETH also in a bearish mood
Ethereum has seen a rebound in value even though the market is struggling hard. Its value has fluctuated, remaining stable compared to Bitcoin. But it hasn’t been able to regain the highs. It is yet to be seen whether it will be able to reach its ATH anytime soon.
Ethereum has also receded to losses as the market transitioned. The latest data for ETH shows that it has shed 0.46% over the last day. The comparative data for the last week shows that its gains remain at 14.23%.
The price value for ETH is in the $1,215.17 range. If we compare the market cap value for the same coin, it is estimated to be $147,021,352,157. The 24-hour trading volume of this coin is about $8,441,938,751.
ATOM turns recessive
Cosmos has also changed direction as the amount of losses increased. The latest data for this coin shows that it has shed 1.85%. In comparison, the weekly data shows that its gains are still strong as they remain at 11.74%. These changes have kept its price value in the $8.97 range.
If we look at the market cap value for ATOM, it is estimated to be $2,565,861,308. The 24-hour trading volume of this coin is about $425,974,222. The same amount in its native currency is about 286,370,297 ATOM.
XMR still bullish
Monero hasn’t been affected by the bearishness of the market. The latest data shows that it has added 0.89% over the last day. The weekly performance shows that it has added 10.07%. The price value for the same coin is in the $127.50 range and continues to increase.
The market cap value for Monero is estimated to be $2,309,224,722. The 24-hour trading volume of this coin is about $57,327,356. The circulating supply of this coin remained at 18,145,516 XMR.
Final Thoughts
The changes in the global crypto market continue as the amount of losses for Bitcoin and others has increased. This change has resulted in a decrease in the global market cap value compared to the other day. As the losses continue, it has increased some coins’ sell-offs. The current global market cap value is estimated to be $955.21 billion.