The global crypto market has seen a decline in value due to the dominant trend of bearishness. The change in the value of Bitcoin, Binance Coin, and others shows that they are shedding value. Their change suggests that sell-offs have continued unbridled. As the recent trend of bullishness had strengthened the market, it seems to be back to emaciation. It is yet to be seen how long these losses will continue.
The US Securities and Exchange Commission is set to probe Coinbase once again. According to the available updates, SEC will probe Coinbase for potentially selling securities. According to SEC, Coinbase has sold assets to US citizens that should have been registered as securities. According to a report by Bloomberg, some of its anonymous sources have said that SEC’s interest in Coinbase has grown because of its growing digital assets.
Coinbase would have had to register as an exchange if these digital assets were registered as securities. Coinbase is not currently registered with SEC or Commodity Futures Trading Commission. However, it filed a shelf application back in May. It shows the company’s intentions to deal in future securities.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC continues to recede
South Korea has continued its probe into various matters related to crypto frauds. Also, it has continued its investigations as various companies faced defaulters. SK authorities are now probing Bitcoin’s Kimchi Premium, an illegal forex trading project. The ongoing probes are yet to see any significant breakthrough.
The latest data for Bitcoin shows that it has shed 3.80% in a single day. The weekly performance also shows a decline in value, regressing by 4.63%. The negative changes have deprived it of the gains made in the bullish period.
The price value for Bitcoin is in the $21,089.10 range. The market cap value for Bitcoin is estimated to be $402,883,114,340. The 24-hour trading volume of Bitcoin is about $38,551,162,965.
BNB sees a further decrease
CANDYDEX token has announced its launch on Binance smart chain. They completed their first sale round recently and now have plans to expand further. They have announced the first airdrop of CANDYDEX tokens. While Binance Cloud also provides opportunities for users to build their exchange.
Binance Coin has also seen a considerable decline in value due to a bearish trend. The decrease has resulted in a loss of 4.85% in a single day. The weekly losses are about 7.23%, showing a trend for increase.
The price value for BNB is in the $242.89 range. If we look at the market cap value for this coin, it is estimated to be $39,186,828,555. The 24-hour trading volume for the same coin is about $974,284,794.
XTZ in a lag
Tezos is also on the back foot due to the bearish trend in the market. The 24-hour data shows that it has shed 4.40%. While if we compare the weekly performance, the losses amount to 12.66%. The increase in losses has brought its price value to the $1.52 range.
If we look at the market cap value for XTZ, it is estimated to be $1,376,545,318. The 24-hour trading volume of this coin is about $62,692,513. The same amount in its native currency is about 41,123,842 XTZ.
FIL stays bearish
Filecoin hasn’t been able to regain momentum due to increasing sell-offs. These have resulted in a loss of 5.29% in the last 24 hours. The seven-day performance shows a loss of 12.09%. These changes have brought its price value to the $5.20 range.
If we look at the market cap value for FIL, it is estimated to be $1,265,124,144. The 24-hour trading volume of this coin is about $162,154,325. The circulating supply of this coin remained 243,265,020 FIL.
Final Thoughts
The global crypto market has seen a decline in value due to bearishness. The trend for bearishness has strengthened, which has caused a considerable loss. The value of Bitcoin, Binance Coin, and others is decreasing. The decrease has resulted in the decline of the global market cap value. It is currently estimated to be $964.91 billion. It is again back from the $1 trillion range.
