The global crypto market has seen a positive change in performance despite the bearish pull. The performance of Bitcoin shows that it hasn’t been able to regain momentum, while Binance Coin and others have remained bullish. The market has seen continuous fluctuations over the recent days as the instability continues. The persistence of negative changes shows that the market growth has been affected considerably. Even though the market has seen a strong bearish pull, it has exhibited a positive trend.
Philippines SEC has warned against unlicensed crypto exchanges amid FTX collapse. The Securities and Exchange Commission highlighted that offering illegal services to Filipinos will have repercussions. As the event of FTX collapse took place, the Filipino SEC issued a renewed warning about the use of illegal exchange services. The advisory is especially regarding those who are using services of unregulated exchanges in the country.
The organization didn’t mention the collapse of FTX directly. Instead, it referred to the collapse of a big international exchange. The statement said that SEC is the overseer of the corporate sector in the Philippines, and it regulates about 600,000 active corporations. According to official sources, many unregistered exchanges are targeting customers via social media and online advertisements. The Philippines SEC called these exchanges high-risk businesses.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC unable to cross $16.8K
Bitcoin will celebrate its 14th birthday on 3 January 2023. The king coin has seen a considerable change in this period as it went from a high of $69K to new lows in recent weeks. Some have questioned whether it will be the last for Bitcoin to celebrate, but its resilience shows hope.
The recent changes for Bitcoin show that it hasn’t been able to maintain bullishness. The latest data shows that it has shed 0.20% in a day. In comparison, the seven-day data shows that it has added 0.02%.
The price value of BTC is currently in the $16,832.50 range. The market cap value of Bitcoin is estimated to be $323,931,425,338. The 24-hour trading volume of Bitcoin is about $13,214,442,802.
BNB continues green
Binance Smart Chain (BSC) TVL has dropped to a 19-month low. While the DeFi of the same has been down by 78% as the market remains unfavorable. The drop took place from its all-time high of $181.2 billion, affecting its business.
The performance of Binance Coin has shown bullishness. The latest data shows that it has added 0.12% in a day. In comparison, the seven-day data shows that it has shed 2.13%.
The price value of BNB is currently in the $243.54 range. The market cap value of this coin is estimated to be $38,958,171,271. The 24-hour trading volume of this coin is about $301,129,987.
DOGE in losses
Dogecoin has also shown losses over recent hours. The latest data shows that it has receded by 1.32% in a day. While the weekly performance shows that it has added 0.48%. The price value of DOGE is currently in the $0.07487 range.
The market cap value of Dogecoin is estimated to be $9,932,852,783. The 24-hour trading volume of this coin is about $253,318,251. The same amount in its native currency is about 3,379,332,427 DOGE.
LTC facing problems
Litecoin has also been facing problems due to the bearish pull. The latest data shows that it has shed 0.71% in the past 24 hours. The seven-day data shows that it has added 7.42%. The price value of LTC is currently in the $69.92 range.
The market cap value of Litecoin is estimated to be $5,028,725,008. The 24-hour trading volume of this coin is about $363,265,141. The circulating supply of the same coin is about 71,921,305 LTC.
Final Thoughts
The global crypto market has seen a trend of gains despite the strong bearish pull. The performance of Bitcoin has shown losses, while Binance Coin has added gains. The rest of the market has also shown a mixed trend as the market continues to face problems. The global market cap value has added a small amount. The latest data shows that it is estimated to be $811.90 billion.
