The global crypto market hasn’t been able to turn bullish as there has been a trend of mixed tendencies. Coins like Bitcoin, Binance Coin, etc., are bearish as their value declines. In comparison, some others have seen a bullish trend and have continued to grow bigger. The market has been facing bearishness for a couple of days. It would need a strong influx of capital to recover the recent losses.
New York State has taken some recent steps regarding crypto. In a recent press release, New York’s Attorney General has asked the victims of the recent market crash to contact her office. The statement specifically aims at those who believe they have been deceived or locked out of their accounts because of the market crash.
Letitia James, the Attorney General, has asked the crypto sector workers to report fraud cases if they have witnessed any. They can serve as a whistleblower by sharing the details of misconduct or fraud. The identity of those who share these details will be kept anonymous. New York State has been making attempts to regulate crypto.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC trying to regain value
August started for Bitcoin on a bearish note as there has been little improvement. In contrast to the previous day, there has been a slight improvement for Bitcoin over the last day. The slight bullishness shows that it might be able to gain traction soon.
The latest data for Bitcoin shows that it has shed 1.39% over the last day. The weekly performance shows an addition of 8.66%. The latter value has remained unaffected mainly due to the continued influx.
The price value for Bitcoin is in the $22,913.02 range. The market cap value for Bitcoin is estimated to be $437,525,009,924. The 24-hour trading volume for Bitcoin is about $27,413,656,309.
BNB faces bearishness
Binance has recently remained cautious about possible irregularities because of the increased regulations. The recent slap of fines from different countries has made it follow the rules strictly. In a recent move, Binance US has delisted a coin that SEC claims to be a security. The increased control of SEC over the recent weeks has made exchanges careful.
The fluctuations for Binance Coin have continued. The latest data shows it has shed 2.08% over the last day. The seven-day data shows an addition of 15.19% for this coin.
The price value for Binance Coin is in the $280,23 range. The market cap value for the same coin is estimated to be $45,187,309,916. The 24-hour trading volume of this coin is about $1,382,538,926.
ALGO still strained
Algorand has remained strained due to the bearish current in the market. The latest data shows a loss of 3.99% over the last 24 hours. The weekly performance shows an addition of 5.84%. Its price value is in the $0.3262 range and might lower if the losses continue.
The market cap value for Algorand is estimated to be $2,262,134,966. The 24-hour trading volume of this coin is about $134,887,457. The same amount in its native currency is about 14,368,034 ALGO.
VET gains momentum
The value of VeChain has continued to improve as the influx of capital has remained strong for it. The latest data shows an addition of 0.63%. In comparison, the seven-day data shows an addition of 20.39%. The increase has brought its price value to the $0.02754 range.
The market cap value for VET is estimated to be $2,008,680,739. The 24-hour trading volume of this coin is about $152,179,156. The circulating supply of this coin remained 72,511,146,418 VET. The increased gains will help it attract more investments.
Final Thoughts
The global crypto market has seen changes in the influx of capital. The recent few days witnessed a bearish market, which might also continue. The Bitcoin and Binance Coin changes are not positive as they have shed value. The global market cap value has also continued to lower. It is currently estimated to be $1.06 trillion. The recent few days saw a decline of $0.04 trillion in the market cap.
