The global crypto market has seen a change in pattern as the losses continue. The recent changes show that Bitcoin, Binance Coin, and others have continued to regress. As the market hasn’t been able to retain gains, the value of various coins has lowered. As the current situation continues, there is little chance of improvement in the upcoming days. The value of the market is expected to lower further as the negative trend is likely to continue.
Terra co-founder Do Kwon has refuted cash-out allegations. Terraform Labs’ head has been accused of money laundering as an arrest warrant had been issued for him. Recently, Interpol issued a warrant for him as he has remained a fugitive. The collapse of Terra UST and the allegations of money laundering has been the reason for the bearishness in the market.
A tweet from Do Kwon has refuted any claims of money laundering using OKK and KuCoin. He said that there had been no cash out so far. While he has also claimed that no entity or funds of the company have been frozen. He has also refuted the allegations of the prosecutor. While South Korean authorities have continued to look for his ties and possible money laundering.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC recessive
The recent changes for Bitcoin show the continuation of losses as the market hasn’t been able to maintain gains. The recent data for Bitcoin shows that BTC might reach its monthly low due to the ongoing changes.
The recent data shows that it has shed 6.44% over the last 24 hours. In comparison, the weekly data shows a loss of 0.92%. As these changes continue, the value of Bitcoin will lower further.
The price value for BTC is currently in the $18,937.45 range. The market cap value for Bitcoin is estimated to be $362,734,702,009. The 24-hour trading volume of Bitcoin remained at $58,132,271,953.
BNB lowers further
Binance global law enforcement training program has become official after a year. The cryptocurrency exchange has been proactive in regard to preventing money laundering and has cooperated with law enforcement across the globe. The recent initiative is part of the drive to prevent illegal activities from taking place through crypto.
The performance of Binance Coin has also shown regression. The latest data shows it has receded 4.26% over the last day. In comparison, the weekly data shows a gain of 1.60%.
The price value for Bitcoin is estimated to be $272.30. In comparison, the market cap value for this coin is about $43,975,706,023. The 24-hour trading volume of this coin is about $880,331,975.
TRX loses momentum
The value of Tron has also lowered as it couldn’t retain momentum. The latest data shows that it has receded by 3.82%. The weekly data shows that it has added 1.25%. The price value of Tron has receded to $0.0589.
The market cap value of TRX is currently estimated to be $5,436,728,728. The 24-hour trading volume of this coin is about $368,248,574. The same amount in its native currency is about 6,254,933,280 TRX.
LINK in lows
Chainlink has also been at lows due to a bearish market. The recent changes show that it has shed 1.68% over the last day. In comparison, the weekly data shows a gain of 16.26%. The price value for LINK is currently in the $8.13 range.
The market cap value for Chainlink is estimated to be $3,983,569,703. The 24-hour trading volume of this coin is about $1,004,662,639. The circulating supply of this coin is about 491,599,970 LINK.
Final Thoughts
The global crypto market has seen a continuation of negative changes. The latest data shows losses for Bitcoin, Binance Coin, and others. The market couldn’t retain its gains due to increasing pressure from bears. The global market cap value has also receded due to the crypto winter. The recent data shows that it is estimated to be $921.12 billion. If the recessive trend continues, it might lower further.
