The performance of the global crypto market has seen no improvement despite the previous bullish wave. It is back to bearishness as the gains for Bitcoin, Ethereum, and others have eroded, affecting the overall market. The negative changes continue to plague the market as the losses increase. The changing situation might affect the investors if the losses remain unchanged. The continuation of bearishness has resulted in the decrease of the global market cap value as well.
Even though the global crypto market has seen a recession over the last few months, some significant developments have occurred. The scope of digital assets and cryptocurrencies has continued to expand quickly. The latest is the addition of crypto services from Warren Buffet’s Nubank, which has begun to offer crypto trading services.
Its 54 million users will be able to benefit from this change as they will be able to trade cryptocurrencies for fiat money and vice versa. The growing need for crypto has led to furthering its services in various banks.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC back to $20K
Bitcoin has continued to face problems as the problems worsen. According to available updates, a string of sleeping Bitcoins since 2010 has seen changes recently. This string contains 200 Bitcoin, which has a worth of $4.27 million. These changes suggest that its users are still resilient.
The latest data for Bitcoin shows that it has shed 1.57% over the last 24 hours. In comparison, the losses for the last seven days show a value of 1.79%. These changes have led to a decrease in Bitcoin price value.
The current price value for Bitcoin is about $20,032.67. In comparison, the market cap value for Bitcoin is estimated to be $382,237,934,776. The 24-hour trading volume of Bitcoin is about $23,715,150,345.
ETH sees a steep downtrend
The changes in the global crypto market have affected the dominance of Bitcoin and Ethereum. As their dominance value changed, the benefit went to stablecoins, whose market cap value rebounded, adding a considerable value. If it goes further, the losses might affect these two further.
The value of Ethereum has continued to depreciate as it has shed 5.45% over the last day. These changes have resulted in decreasing the weekly gains to 0.17%. The decreasing value has also affected the market dominance of this coin.
The price value for ETH is about $1,088.68. In comparison, the market cap value for this coin is estimated to be $132,109,835,608. The 24-hour trading volume of the same coin is about $15,566,134,617.
SHIB unable to maintain momentum
Shiba Inu has also faced problems as the market has continued to fluctuate. These changes have resulted in a loss of 1.46% over the last day. The changes for the last seven days show a depreciation of 0.58%. These losses have affected its price value which is currently about $0.00001001.
The market cap value for SHIB is estimated to be $5,504,376,721. The 24-hour trading volume of this coin is about $581,461,860. The same amount in its native currency is about 58,001,000,226,132 SHIB.
LTC fluctuates
Litecoin has also seen fluctuations in value as the losses increased. The changes have resulted in a loss of 0.71% over the last day. In comparison, the losses for the last seven days are about 2.14%. The price value has also fluctuated due to market changes, which is currently about $52.92.
The market cap value for this coin is about $3,736,675,964. The 24-hour trading volume for the same coin is about $562,582,992. The circulating supply for this coin remained 70,612,719 LTC.
Final Thoughts
The global crypto market has seen changes in value as the losses increased. These losses have affected almost all coins like Bitcoin and smaller ones. The changes have seen no end as the market has been bearish. It seems a continuation of the last wave of bearishness, which considerably lowered the global market cap value. The current value of the global market cap is about $891.09 billion, which might be lowered further.