The global crypto market has witnessed a negative change in performance. The recent data for Bitcoin, Ethereum, and others shows that there has been no positive change. Instead, they have continued to see a recession, lowering their value considerably. The market has faced a considerable change in performance over the recent days as the bullish trend has been replaced by the bearish one. If the current situation persists, there will be a significant change in the market value.
According to recent updates, auditing firm BDO could be the next to abandon crypto clients. Previously Mazars had re-assessed its options in its approach to the crypto industry. As per news from media outlets, BDO is considering its options to either limit its services or halt them altogether for crypto firms. A BDO representative stated that they are re-evaluating their approach to the crypto sector and the work they undertake for their clients.
If these changes take place, various crypto companies will have to find a new service to fulfill their needs. Tether has remained dependent on BDO Italia for its monthly attestation statements. There are other various major names that have remained dependent on BDO for their audit. Some of these include Stasis, Revolut, Blockchain.com, Mercado Bitcoin, etc.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC lowers to $16.6K
Hal Finney’s Twitter account has just been revived recently. He was the first person ever to receive a Bitcoin transaction, giving him immense significance. Hal Finney passed away in 2014, and his account has remained inactive since then. As the value of Bitcoin has seen various ups and downs, his Twitter account has gained considerable significance.
The recent changes for Bitcoin show the continuation of the negative trend. The latest data shows that it has shed 4.21% over the last day. The seven-day data shows that Bitcoin has receded by 2.70%.
The price value of Bitcoin is currently in the $16,683.00 range. The market cap value of Bitcoin is estimated to be $320,911,114,246. The 24-hour trading volume of Bitcoin is about $24,958,892,443.
ETH faces a speedy recession
Ethereum price records show that it has seen December’s largest liquidation. These changes have forced the users to think about the possible liquidation ahead. The price changes came as the result of the rate hike decision from the US Federal Reserve.
The performance of Ethereum has also shown a bearish trend over recent hours. The latest data shows that it has declined 7.65% in a day. The weekly performance of this coin shows a loss of 7.21%.
The price value of ETH is currently in the $1,174.02 range. The market cap value of this coin is estimated to be $143,669,250,772. The 24-hour trading volume of the same coin is about $9,760,388,664.
TRX unable to hold value
Tron has also been in losses and couldn’t hold its value amid bearishness. The latest data shows that it has regressed by 6.11% over the last day. The seven-day data shows that it has shed 4.45%. The price value of TRX is currently in the $0.05238 range.
The market cap value of Tron is estimated to be $4,820,266,733. The 24-hour trading volume of this coin is about $263,334,968. The same amount in its native currency is about 5,023,838,603 TRX.
LTC facing downward pressure
Litecoin has also faced severe downward pressure due to the recessive market. The latest data shows that it has shed 8.63% over the last day. The seven-day data shows that it has regressed by 12.47%. The price value of LTC is currently in the $66.87 range.
The market cap value of Litecoin is estimated to be $4,804,448,482. The 24-hour trading volume of this coin is about $810,184,304. The circulating supply of the same coin is about 71,845,156 LTC.
Final Thoughts
The global crypto market has seen a negative change in performance over recent hours. The recent changes for Bitcoin, Ethereum, and others show a decline in value. As the market has faced losses, there has been an increase in the efflux of capital. The global market cap value has lowered considerably as it is estimated to be $800.10 billion.
