There has been a considerable change in the value of the market as Bitcoin and others have seen a recessive day. The changes for these coins have continued despite the attempts for recovery. The bullish trend continued recently, but the previous day brought it back to lows. As the current bearishness continues, the market will continue its to and fro movements.
Ripple Vs. SEC has been one of the most famous cases in the crypto market. Though it has taken a long while, there has been no conclusion on this issue, but it is expected soon. The other day, the judge denied the request from SEC to keep some documents secret. The recent developments show that this case will see its conclusion soon.
Ripple’s CEO Brad Garlinghouse said their company had spent more than $100 million on legal fees to fight this case. He had recently said they planned to quit the US for good if they didn’t win the case. The financial cost has been too burdensome for the company.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and other altcoins.
BTC facing harsh times
Bitcoin has been facing a bearish market for a while as the sell-offs continue. But analysts claim it can get back to $30,000 in September 2022. The gain of $10,000 in a couple of months will be a difficult job for this coin. Investors will greatly benefit from this rise in value.
The latest data for Bitcoin shows it has shed 0.69% over the last day. The seven-day performance for Bitcoin shows it has receded 4.74%. The negative changes continue to affect its metrics.
The price value for Bitcoin is in the $20,652.35 range, showing signs of recession. The market cap value for Bitcoin is estimated to be $394,357,874,424. The 24-hour trading volume of the same coin is about $22,895,308,037.
BNB continues bearish
Binance has seen tough times due to the bearish market, but it has remained resilient due to its relative strengths. While analysts have begun to compare it with KuCoin for its pros. Both are crypto exchanges, and their tokens are comparable in market cap value. Whether KuCoin will give Binance a tough time is yet to be seen.
The value of the Binance Coin is also recessive as the market is bearish. This coin’s value has receded 0.65% over the last 24 hours. The seven-day losses for this coin are about 2.64% as the recession remains unchanged.
The price value for BNB is about $235.63 range. If we compare the market cap value for this coin, it is estimated to be $38,499,655,928. The 24-hour trading volume of the same coin is about $880,447,238.
VET lowering considerably
VeChain has also been on the negative side of the trajectory as the market remains recessive. The value of this coin shows that it has shed 1.77%. In comparison, the weekly performance shows that it has shed 5.79%. These changes show that its price value is about $0.02269.
The market cap value for VET is estimated to be $1,647,564,152. The 24-hour trading volume of the same coin is about $72,020,829. The same amount in its native currency is about 3,169,717,478 VET.
XTZ fluctuating
Tezos has fluctuated value as the market has shed a considerable value. The latest data shows it has shed 2.38% over the last day. The weekly performance shows a loss of 4.42%. The price value for this coin decreases to the $1.55 range.
If we look at the market cap value for XTZ is estimated to be $1,397,458,079. The 24-hour trading volume of this coin is about $25,261,866 XTZ. The circulating supply of this coin is about 901,689,103 XTZ.
Final Thoughts
The global crypto market is seeing a decline in value as the losses continue. These changes have decreased the value of various coins, including Bitcoin, Binance Coin, and others. These changes have resulted in a decrease in the global market cap value as well. It is currently estimated to be $926.19 billion.
