The global crypto market has continued to shed value as it couldn’t regain momentum. The ongoing changes show that Bitcoin, Binance Coin, and others weren’t able to turn bullish. As the market has continued to face problems, there is a considerable decrease in its value. The alternation of negative and positive trends has continued for a lasting period and might continue like this. There is a need for consolidated efforts to enhance its performance.
LINE-founded cryptocurrency exchange, BITFRONT has announced closure. BITFRONT allows users to withdraw their funds till 31 March 2023 and set to delete their personal information within forty days of the set date. The company said in a statement that the withdrawal of funds will not be possible after the given date and the users must do it timely.
The company published a notice which said that the company tried to overcome challenges in the rapidly evolving industry but wasn’t able to keep pace. The result has been the decision of closure of the exchange. The firm noted that the decision was taken in the best interest of the LINE blockchain system. As of 28 November, the company has suspended new signups and credit card payments for users.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC continues to lose
Bitcoin has continued to struggle amid the changing market. There are chances that Bitcoin miners capitulate again but there is a question of whether it will hurt Bitcoin’s value. The ultimate result is yet to be seen as it happens.
The recent changes for Bitcoin show a continuation of the negative trend. The latest data shows that it has receded 0.35% over the last 24 hours. The weekly performance of Bitcoin shows a loss of 0.18%.
The price value of BTC is currently in the $16,182.87 range. The market cap value of Bitcoin is estimated to be $311,018,312,471. The 24-hour trading volume of Bitcoin is about $24,971,916,919.
BNB continues to decline
Binance has moved $2 billion of Bitcoin as part of a reserves audit. Binance CEO CZ said in a statement that these funds were moved to the main BTC wallet. The funds will be used for verification of balance by an auditor.
The performance of Binance Coin has also shown a continuation of the decline. The latest data shows that it has shed 6.31% over the last 24 hours. The weekly data shows that it has added 12.58%.
The price value of BNB is currently in the $293.77 range. The market cap value of this coin is estimated to be $46,994,504,390. The 24-hour trading volume of this coin is about $1,030,151,044.
DOGE remains recessive
The value of Dogecoin has also seen a reversal as it couldn’t retain its gains. The latest data shows that it has shed 8.51% over the last day. The weekly data of this coin shows that it has added 23.82%. The price value of DOGE is currently in the $0.0951 range.
The market cap value of Dogecoin is estimated to be $12,616,704,501. The 24-hour trading volume of this coin is about $1,541,789,000. The same amount in its native currency is about 16,265,289,822 DOGE.
LTC unable to regain strength
Litecoin has also been unable to regain strength as the drain continues. The latest data shows that it has shed 7.11% over the last day. The seven-day data for this coin shows an addition of 18.28%. The price value of LTC is currently in the $72.03 range.
The market cap value of Litecoin is estimated to be $5,165,153,996. The 24-hour trading volume of this coin is about $717,968,451. The circulating supply of the same coin is about 71,710,569 LTC.
Final Thoughts
The global crypto market has witnessed a continuation of negative change. The latest data shows that Bitcoin, Ethereum, and others have remained recessive. The negative changes have resulted in the loss of a significant value. As the market continues to lower value, the global market cap value has seen a decline. The latest data shows that it is estimated to be $818.58 billion.
