The performance of the global crypto market has shown signs of decline due to the negative trend. The value of Bitcoin, Binance Coin, and others had retained gains for the last few days, but there has been a change in their value. The recent changes brought losses to the overall market as the influx of capital reduced gradually. Though most of the coins haven’t yet turned bearish, the reduction in gains is likely to make it possible soon.
Do Kwon has claimed that the freeze of $40 million in crypto from South Korean authorities is a falsehood. The Terra community has continued to work on projects that could lead to the re-peg of USTC while also boosting the value of LUNC. Recently, South Korean authorities claimed that they had frozen Do Kwon’s assets worth $39.66 million.
The statement from authorities said that the assets included OkEx and Kucoin. Do Kwon refuted it by saying he doesn’t own any assets in the mentioned coins. He also said he is unsure about whose assets the authorities have frozen. He also said he has no time to trade, so there is no chance of owning such assets.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC stuck at $20K
Bitcoin has recently seen a spike in open interest rate while also enhancing its value. The value of Bitcoin saw an uptrend at the start of October as it crossed $20K and is likely to improve. The market is expected to be strong in October, thus bringing gains to Bitcoin and others. The retesting of support levels for this coin shows that it hasn’t given up yet.
The recent changes for Bitcoin show a decline in momentum. The latest data shows that it has added 0.58%. The weekly data shows that Bitcoin has added 2.82%.
The price value for Bitcoin has reached $20,114.81 and might fluctuate. The market cap value for Bitcoin is estimated to be $384,362,717,864. The 24-hour trading volume of this coin is about $33,369,453,585.
BNB close to $300
Binance and FTX have announced new listings, according to which GMX has soared 34%. GMX went live on Binance today and jumped forward, outclassing many coins. The change came amid the lingering crypto winter, which has affected the overall market.
The performance of Binance Coin has also declined due to lowered gains. The latest data shows it added 0.03% over the last 24 hours. The weekly data shows that it has added 5.19%.
The price value for BNB is currently in the $293.88 range. The market cap value for this coin is estimated to be $47,373,360,531. The 24-hour trading volume of this coin is about $735,097,561.
NEAR in gains
The value of Near Protocol has continued to improve due to the bullish market. The latest data shows that it has added 0.56% over the last day. The weekly data shows that it has added 1.56%. The price value for NEAR has enhanced to the $3.64 range.
The market cap value for Near Protocol is estimated to be $2,913,976,973. The 24-hour trading volume of this coin is about $202,664,067. The same amount in its native currency is about 55,722,391 NEAR.
FLOW turns recessive
The recent changes in Flow have shown a negative trend. The latest data shows it has shed 2.01% over the last 24 hours. The seven-day data shows that it has added 2.71%. The price value for FLOW is currently in the $1.68 range.
The market cap value for Flow is estimated to be $1,739,813,401. The 24-hour trading volume of this coin is about $27,748,177. The circulating supply of this coin is about 1,036,200,000 FLOW.
Final Thoughts
The global crypto market has changed due to a reduced influx of capital. The recent changes for Bitcoin, Binance Coin, and others show a negative trend. As the influx of capital has lowered, the global market cap value has also been affected. The latest data shows that it is estimated to be $958.67 billion.
