There has been no positive change in the value of the global crypto market. The bearish trend for Bitcoin, Binance Coin, and others has continued without any changes. As the market has performed not that well, there has been a decline in investments. The reduced influx of capital is a sign of investors shying away from risking their capital. If the current situation continues, the market will have to struggle to keep its current value.
Google has signaled a major crypto push with its support for Ethereum and Solana. Google Cloud has recently moved to support Web3 infrastructure. According to available updates, it has debuted fresh integrations with competing blockchains Ethereum and Solana. The collaboration with famous blockchains will accelerate support for Web3. Last month, Google announced a node-hosting service for Web3 developers called the Blockchain Node Engine.
During the weekend Breakpoint 2022 Conference, Google Web3 lead Nalin Mittal said that Google has really deepened its investment in Web3 space throughout 2022. The result has been a dedicated team at Google for Web3. Google’s parent Alphabet participated in four funding rounds in blockchain firms between September 2021 and June 2022. Some of these included crypto conglomerate Digital Currency Group and Dapper Labs.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC back to $20.7K
FTX has clarified the difficulty in Bitcoin transactions amid the FTX-Binance war. The founder and CEO of the company assured the users that the deposits and withdrawals of BTC are working fine. He has clarified the rumors regarding the problems being faced in transactions related to Bitcoin. The recent hours have seen a surge in problems of FTX due to Binance’s hostile decisions.
The recent changes for Bitcoin show no good changes as it continues to lose. The latest data shows that it has shed 2.41% over the last 24 hours. The weekly performance of Bitcoin shows a gain of 0.34%.
The price value of BTC is currently in the $20,726.75 range. The market cap value of this coin is estimated to be $298,167,396,163. The 24-hour trading volume of this coin is about $47,058,367,878.
BNB in a losing mode
Binance has given a tough time to FTX as it has plans to liquidate all FTT holdings. Some analysts have referred to it as exchange wars. The news of Binance’s liquidation of FTT tokens comes amid the news of the perceived over-collateralization of FTX.
The performance of Binance Coin is no different in losses as it continues bearish. The latest data shows that it has shed 6.32% over the last 24 hours. The weekly performance of this coin shows a loss of 0.68%.
The price value of BNB is currently in the $330.13 range. The market cap value of this coin is estimated to be $52,814,510,870. The 24-hour trading volume of this coin is about $1,544,248,839.
DOGE unable to hold value
The performance of Dogecoin has also shown lag as the market continues to lose. The latest data shows that it has regressed 6.09% over the last 24 hours. The weekly performance shows that it has shed 3.02%. The price value of DOGE is currently in the $0.1166 range.
The market cap value of Dogecoin is estimated to be $15,470,793,994. The 24-hour trading volume of this coin is about $1,518,704,942. The same amount in its native currency is about 13,023,749,492 DOGE.
SHIB in losses
Shiba Inu has continued to lose value to the dominant bearish trend in the market. The latest data shows that it has receded 5.56% over the last 24 hours. The weekly data shows that it has shed 7.51%. The price value of SHIB is currently in the $0.00001198 range.
The market cap value of Shiba Inu is estimated to be $6,580,984,041. The 24-hour trading volume of this coin is about $415,983,575. The circulating supply of this coin is about 549,063,278,876,302 SHIB.
Final Thoughts
The global crypto market has witnessed a negative change in performance. There has been no improvement in the value of Bitcoin, Binance Coin, and others as the bearish situation dominates. The negative trend has affected the global market cap value. The latest data shows that it is estimated to be $1.03 trillion.
