The global crypto market has continued to see fluctuations in value as the uncertainty continues. The latest data shows that it has turned recessive due to a reduced influx of capital. The value of Bitcoin and some other coins shows losses, while Binance Coin is yet bullish. As the market has continued to be uncertain, there is a likely chance that the remaining ones will also turn bearish. If it happens, the market won’t be able to retain the recent gains.
Terraform creator Do Kwon has accused South Korean authorities of overreach. He said in a statement that the case has been highly politicized. The concern has come two weeks after the Korean authorities issued a warrant for Do Kwon. The spokesperson for Terra LUNA said that it wasn’t a security and didn’t come under the jurisdiction of South Korean authorities.
The collapse of Terra UST wiped about $40 billion from the market, and its after-effects have continued. The aftermath of the collapse of this stablecoin led to the bankruptcy of companies like 3 Arrows Capital and some others. The Interpol red notice for Do Kwon has created new problems for Do Kwon.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC unsure
Lightning Labs has released new updates to allow assets over the Bitcoin network. The initial code for the Taro protocol will allow developers to mint, send, and receive assets. On the other hand, Russia is unlikely to choose Bitcoin for cross-border payments.
The performance of Bitcoin has changed due to changing market situation. The latest data shows it has added 1.15% over the last 24 hours. The weekly data shows that Bitcoin has added 0.91%.
The price value of Bitcoin has also fluctuated due to the uncertain market, which is currently about $19,172.17. The market cap value for Bitcoin is estimated to be $367,413,729,126. The 24-hour trading volume of Bitcoin is about $43,868,543,658.
BNB in gains
ETHPoW price has risen as a result of Binance’s launch of its mining pool. The result of this change was a rise of over 15% in its value. The transition of Ethereum from Proof of Work to Proof of Stake has resulted in a great setback to the value of ETHPoW.
The recent changes for Binance Coin show a continuation of the positive trend. The latest data shows that it has added 1.77% over the last 24 hours. The seven-day data for this coin shows a gain of 4.23%.
The price value for BNB is currently in the $280.36 range. The market cap value for this coin is estimated to be $45,232,393,672. The 24-hour trading volume of the same coin is about $858,099,742.
ADA on the losing side
The performance of Cardano also shows a trend of losses. The latest data shows a loss of 1.16% over the last 24 hours. The weekly data shows that it has shed 3.98%. As these losses continue, the price value for ADA has regressed to the $0.4322 range.
The market cap value for Cardano is estimated to be $14,779,698,676. The 24-hour trading volume of this coin is about $537,174,301. The same amount in its native currency is about 1,24,469,745 ADA.
DOT regressive
The value of Polkadot has also lowered due to uncertainty in the market. The latest data shows it has shed 1.13% over the last 24 hours. The weekly data shows that it has shed 0.41%. As the negative trend has continued, the price value for DOT has lowered to the $6.34 range.
The market cap value for Polkadot is estimated to be $7,109,560,062. The 24-hour trading volume of this coin is about $281,243,143. The circulating supply of this coin is about $1,121,273,151 DOT.
Final Thoughts
The global crypto market has remained uncertain over recent hours. The latest data shows losses for Bitcoin while Binance Coin has remained bullish. The rest of the coins have also shown an uncertain trend. The global market cap value has also fluctuated as this pattern has continued. The latest data shows that it is estimated to be $926.48 billion.
