The changes for the global crypto market continue in the negative direction as there has been no change. The efflux of capital for Bitcoin, Ethereum, and others continues. These changes have resulted in the reduction of price value for individual coins. Also, the global market cap value has seen no difference as it has been in a regressive mood. The losses for the market have affected the influx of new capital, which has lowered further. The increased sell-offs continue to plague the market.
Celsius has been facing problems as the market has remained bearish. It saw a mini-rally after the repayment of $120 million as CEL has consolidated. The past few weeks brought it a fix, and it is hoped to see revival soon. It is yet to be seen whether it will be able to retain these gains or will it face another backlash from the market.
On the other hand, the Indian crypto tax has resulted in an 83% trading frequency. Exchanges like WazirX and Zebpay said that more than 83% of their customers have reacted to the new tax implementation.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC continues to recede
According to the available data, there has been a Bitcoin institutional investment reduction in the last few months. Even though investors have continued to gain from the recent market growth, there has been a bearish sentiment. The upcoming changes will clarify how the market will proceed pushed by these changes.
The latest data for Bitcoin shows that it has shed 1.96% over the last day. If we compare the Bitcoin performance for the last seven days, it has shed 2.28%. The ongoing changes haven’t let Bitcoin rise in value.
The price value for Bitcoin is in the $19,885.48 range. If we compare the market cap value for Bitcoin, it is estimated to be $379,591,118,325. The 24-hour trading volume of Bitcoin is about $26,821,472,090.
ETH facing decline
Ethereum has seen a mixed reaction from investors as the market has continued to change. The recent data shows that the registrations to Ethereum Name Service have seen a spike of 216 over the last week. On the other hand, the sales on OpenSea exceeded $7.19 million.
Ethereum has also seen a decline in value as it has shed 2.71% over the last day. The changes for the last seven days are about 2.75%. Ethereum has continued to struggle amid the bearish market.
The price value for Ethereum is in the $1,119.11 range. If we compare the market cap value for this coin, it is estimated to be $135,926,486,822. The 24-hour trading volume of this coin is about $16,339,105,063.
QNT suffers
Quant has also faced hard times as the losses continue to increase. The latest data shows it has shed 4.01% over the last day. The seven-day gains for this coin are about 1.14%. These changes have resulted in the reduction of price value to $58.45.
If we compare the market cap value, it is estimated to be $706,286,148. The 24-hour trading volume of the same coin is about $33,138,636. The same amount in its native currency is about 566,448 QNT.
FTM continues bearish
Fantom hasn’t been able to regain value as the market continues to bearish. The latest data shows that it has shed 7.21% over the last day. These changes have increased the weekly losses, which are about 8.54%. The price value for this coin is in the $0.2517 range.
If we compare the market cap value for FTM, it is estimated to be $640,472,392. The 24-hour trading volume of the same coin is about $167,098,104. The circulating supply of this coin is about 2,545,006,273 FTM.
Final Thoughts
The global crypto market has continued its pace in a negative direction. These changes have resulted in the loss of considerable value for the market. The latest data for Bitcoin, Ethereum, and others show that they haven’t been able to revive value. This coin’s global market cap value is estimated to be $895.53 billion.
