The bullish wave for the global crypto market has continued as the influx remains unchanged. In comparison to other days, the gains for Bitcoin are much lower. While those of Binance Coin and others are relatively higher. The market saw a strong current of bearishness over the last few days. As it is struggling to improve its value, it would need a consolidated bullish wave.
Harmony, a renowned crypto company, has plans to inflate away its problems. It had recently lost more than $100 million as its Horizon bridge was exploited. Now, it has expressed intentions of issuing more ONE tokens to reimburse those customers who were affected by this exploit. It has suggested the initiation of a hard fork to mint new tokens, which will be used for compensation.
On the other hand, its community is not happy about this proposal. The suggestion was submitted to the governance forum this Wednesday. According to the proposal, if the users are to get a 100% reimbursement, 4.97 billion ONE tokens will be minted. While the other option available is minting 69 million tokens, which will cover half the losses of the customers.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and some other altcoins.
BTC struggles at $21K
Bitcoin gained traction soon after the clarification from IMF. According available information, it has clarified that Bitcoin doesn’t threaten the current financial system. The result has been this coin surpassing $21K soon.
The latest data shows that Bitcoin has added 0.54% in a single day. It has been relatively slower in gains this time. The weekly performance shows that Bitcoin exhibits a negative trend as it has shed 10.53%.
The price value for Bitcoin is in the $21,220.54 range. If we look at the market cap value for Bitcoin, it is estimated to be $405,412,924,930. The 24-hour trading volume of Bitcoin is about $26,289,816,820.
BNB continues to grow
Binance has been relatively luckier compared to Bitcoin and others. The transition from a bearish market didn’t bring much gains to others, but BNB has reaped the benefits. It has been able to retain investor trust and added significant value recently.
Binance Coin has seen a tremendous addition in value. The latest data shows that it has added 4.47% in the last 24 hours. The seven-day performance shows a loss of 5.39%.
The price value for BNB is currently in the $254.14 range. If we compare the market cap value, it is estimated to be $40,676,570,761. The 24-hour trading volume of this coin is about $956,342,261 BNB.
ALGO improving its performance
Algorand has seen a lag in value in recent days. The latest data shows that it has added 0.12% over the past 24 hours. The weekly performance shows a regression of 15.40%. As its value regressed, there was a drop in price. Its current price value is in the $0.3085 range.
If we take a peek at the market cap value for ALGO, it is estimated to be $2,143,632,784. The 24-hour trading volume of this coin is about $69,974,558. The same amount in its native currency is about 226,830,498 ALGO.
FLOW in need of a stronger push
Flow has seen a strong regressive pull. The result of these changes have brought a considerable loss in value. The latest data shows an addition of 0.21% over the last 24 hours. The weekly performance shows a loss of 19.00%. The trend of losses has affected its price value which is currently about $1.59.
The market cap value for FLOW is estimated to be $1,651,405,440. Its 24-hour trading volume of it is about $27,758,310. The circulating supply of this coin is about 1,036,200,000 FLOW.
Final Thoughts
The global crypto market has seen an improvement in value recently. Though it is bullish, there has been no big change in the value of Bitcoin and other coins. The change in the market value needs a strong bullish push which hasn’t been witnessed this time. The global market cap value is stuck below $1 trillion. It is currently estimated to be $982.64 billion.
