The global crypto market hasn’t been able to recover value, shedding 3.66% in 24 hours.Bitcoin has continued to go through depreciation, shedding 3.10% over the last 24 hours.Binance Coin follows the same suit as Bitcoin, shedding 4.05% in 24 hours.Litecoin and Tron see no difference in the market situation, depreciating 3.14% and 2.68%, respectively.
The global crypto market has continued to lower value as the previous 24 hours brought it no addition to value. In contrast to the other day, as the market was going bullish, the recent performance shows a reduction in value. The situation hasn’t brought any hopes for the investors because the value of various coins, including Bitcoin, has continued to lower. The change came amid the bullish situation when the indicators showed smooth market growth. There are different views regarding it; some refer to it as the signs of upcoming bullishness, while others refer to it as plain bearishness with no implicit meanings.
Shopify was preparing to work on Bitcoin payments, but the integration faces legal issues. Its community has raised several questions about the legitimacy of this integration with Bitcoin through the Lightning Network. The Crypto community has expressed their concerns because of the possible problems it will create for Bitcoin owners in specific and crypto owners in general. So, as long as these questions are not satisfactorily answered, there is a little chance that it will proceed. Shopify would have to wait for the solution to the problem.
Here is a brief overview of the current market situation using the performance of Bitcoin, Binance Coin, and some other significant names.
BTC continues to reverse gains
Bitcoin has continued to reverse the value it had gained after the market began to stabilize after the recession back in March 2022. The increase from $32K was seen as a tremendous rise for Bitcoin, but now the current situation is bringing it back to a questionable situation. The recent recession in value tells of the hard times Bitcoin is going through.
The data for the last 24 hours shows that Bitcoin couldn’t keep losses low and depreciated by 3.10%. In comparison, the losses for the last seven days are about 8.94%, which shows the urgency for gains. The price value of Bitcoin has also witnessed a significant decrease and is currently in the $42,333.12 range.
The market cap value for Bitcoin is estimated to be $804,606,336,230. In contrast, the 24-hour trading volume of Bitcoin remained at $27,441,135,271. The depreciation in the value of Bitcoin shows bearishness from all indicators.
BNB lowering significantly
Binance Coin has also reduced value like Bitcoin after the unfavorable market lowered its gains. The pattern for these coins shows a clear indication of the gradual lowering value and then continuous losses. It is not yet clear how long this situation will last, but it is affecting the performance of these coins.
Binance Coin has shed 4.05% in the last 24 hours, while comparatively, its weekly losses are a bit bigger in value. Its seven-day losses amount to 6.25%. The price value has been affected in a likely manner which is currently in the $421.98 range.
The market cap value for Binance Coin is estimated to be $69,676,453,146. In comparison, its 24-hour trading volume of it is about $1,919,247,580. The same amount in the native currency of Binance Coin is 4,548,164 BNB.
LTC sees no hope
Litecoin hasn’t seen any positive change in the market over the last 24 hours. The data for the last 24 hours shows that it continued to recede in value and has shed 3.14%. If we compare its seven-day performance, it has shed 12.17%, almost triple the value of the daily losses. The current price for Litecoin is about $110.92.
If we take a peek at its market cap value, it is estimated to be $7,767,602,113. In comparison, the 24-hour trading volume of this coin is about $760,053,832. The circulating supply of Litecoin remained 70,027,306 LTC.
TRX lowers further
Tron has also continued to go low in value due to continuing bearishness. The result is a loss of 2.68% over the last 24 hours. While if we compare the seven-day losses, their amount is 16.57%. The price has decreased likely, which is currently about $0.06295.
The market cap value for Tron is estimated to be $6,394,070,604. In comparison, the 24-hour trading volume of Tron is about $895,962,126. The circulating supply for this coin remained at 101,669,639,979 TRX. Tron’s graph shows that it has seen a continuous decrease in value.
The global crypto market wasn’t able to recover value as of the latest updates; the recent data shows that it has lowered, further affecting the market cap value. The global market cap for it has come down to $1.95T. The last few days have strained as the losses were more than expected. As the pace of losses hasn’t lowered, there are chances that the investors might have to suffer more in the current situation.