The performance of the global crypto market has seen a negative trend due to continuing losses. The recent data for Bitcoin, Binance Coin, and others show a continuation of losses. If the current situation persists, there is a likely chance that the market might go further lower. The losses for the market have continued for a while and might lead to further deterioration. The losing trend needs to step if the market needs gains for investors.
Ex-Morgan Stanley CEO has admitted that if crypto is used for monetary transactions, it could be a huge way. As the cryptocurrency sector matures, there are some uncertainties regarding how the industry will evolve. The main question will be how it is going to integrate traditional finance. There is especially hope in the circles of Wallstreet personalities who believe that crypto and digital assets have a role in the future payments system.
A particular name in this regard is former Morgan Stanley CEO John Mack, who acknowledged that crypto could be a huge medium for transactions in the future. He said it in an interview with CNBC on 13 October. According to Mack, crypto has several user benefits over the traditional system.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC recessive
Ark Investments’ Yassine Elmandjra is bullish on Bitcoin and has said that it will hit $1 million per coin by 2030. Earlier, some other analysts in the market have also made positive predictions about the value of Bitcoin. But it is yet to be seen how Bitcoin will perform in the coming years.
Source: TradingView
The recent changes for Bitcoin continue to show a negative trend. The latest data shows it has shed 0.16% over the last day. The weekly data shows that Bitcoin has receded by 1.82%.
The price value for BTC is currently in the $19,131.96 range. The market cap value for Bitcoin is estimated to be $367,198,344,594. The 24-hour trading volume of Bitcoin is about $14,904,393,171.
BNB continues bearish
Binance Pool has revealed $500 million as a Bitcoin mining fund. The crypto giant had recently announced assistance for the ailing Bitcoin mining industry. For this purpose, Binance announced that it would seek to offer debt financing services to those participants in the sector who are facing difficulties.
Source: TradingView
The performance of Binance Coin has also seen no positive change recently. The latest data shows that it has shed 0.42% in 24 hours. The weekly data shows that it has receded by 2.95%.
The negative changes for BNB have resulted in the decline of its price value to the $269.92 range. The market cap value for this coin is estimated to be $43,580,986,755. The 24-hour trading volume of this coin is about $502,036,058.
UNI in losses
The value of Uniswap has continued to recede due to the bearish market. The latest data shows it has shed 0.37% over the last day. The seven-day data for this coin shows a loss of 7.27%. As UNI continues to suffer, its price value is currently in the $6.10 range.
Source: TradingView
The market cap value for Uniswap is estimated to be $4,653,823,539. The 24-hour trading volume of this coin is about $58,543,246. The same amount in its native currency is about 9,588,290 UNI.
ATOM bullish
The performance of Cosmos has seen a hike as the influx of capital helped it. The recent data shows that it has added 0.56% over the last day. The weekly data shows that it has shed 11.37%. The price value for ATOM is currently in the $11.63 range.
Source: TradingView
The market cap value for Cosmos is estimated to be $3,330,995,898. The 24-hour trading volume of this coin is about $111,625,541. The circulating supply of this coin is about 286,370,297 ATOM.
Final Thoughts
The global crypto market has continued to see a decline in value. The recent changes for Bitcoin, Binance Coin, and others show a negative trend. As the negative trend is likely to continue, the market will see a further decline in gains. The global market cap value has also been affected. The latest data shows that it is estimated to be $917.38 billion.
