The global crypto market hasn’t been able to retain its momentum. The change has resulted in a turn from bullishness to the bearishness of Bitcoin and other coins. These changes resulted in a decline in the value of various coins that were performing much better. How much this bearishness will affect the market is yet to be seen. Analysts hope that the market won’t face a lasting bearishness.
Even though 2022 hasn’t proved a good year for the crypto market, venture capitalists have pumped $29 billion into it. The market crashed due to the deteriorating geopolitical situation as its value has lowered considerably. The loss resulted in lowered investments in the market as the investors saw little chance of gain.
A comparison of venture capital for the market for 2021 and 2022 shows that this year there has been a decrease of $2 billion. It was $31 billion over the previous year as the market remained vibrant. The mentioned value in 2022 was $5.5 billion, and it saw a rise of 40% in 2021. According to the study by CoinTelegraph and KeyChain Ventures, most investments came to DeFi.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC falls to $22K
The use of crypto for crime is nothing new, as the dark echelons of society have continued to utilize it. Finnish Customs has sold off $47 million worth of Bitcoin, which it had seized recently. According to the official sources, this amount will be donated to Ukraine.
The latest data for Bitcoin shows that it has shed 4.71% over the last day. In comparison, the weekly performance shows an addition of 14.75%. The decrease in value has affected its metrics which showed enhancement recently.
The price value for Bitcoin is in the $226,49.37 range. If we look at the market cap value for Bitcoin, it is estimated to be $432,586,731,194. The 24-hour trading volume of Bitcoin is about $42,340,674.898.
BNB facing a reversal
Binance US has launched an affiliate marketing program, further expanding its business area. Previously Coinbase had closed its affiliate marketing program due to a lack of funds and problems it faced due to bearishness. On the other hand, Switzerland’s Frank Muller has launched NFT watches on Binance NFT.
BNB has also faced bearishness as the market has taken the reverse direction. The latest data shows that it has lost 4.89% over the last day. The changes also affected its weekly performance as its gains have been reduced to 12.39%.
The price value for BNB is in the $256.38 range. If we look at the market cap value for this coin, it is estimated to be $41,364,151,080. The 24-hour trading volume of the same coin is about $1,509,139,452.
FLOW facing a steep decline
Flow has seen a downtrend in value as the losses continue. These changes have brought a regression of 9.59% over the last 24 hours. The gains for the last seven days are about 22.52%. The price value for the same coin is about $1.78.
If we look at the market cap value for Flow, it is estimated to be $1,847,386,450. The 24-hour trading volume of the same coin is about $66,291,558. The same amount in its native currency is about 37,162,968 FLOW.
VET shows regression
The situation of VeChain is no different, as the market has seen a regressive trend. The result has been a loss of 8.99% over the last day. The depreciation has resulted in the decrease of its weekly gains to 14.05%. The price value for the same coin is about $0.02468.
The market cap value for VET is estimated to be $1,789,553,562. The 24-hour trading volume of the same coin is about $143,350,303. The circulating supply of this coin is about 72,511,146,418 VET.
Final Thoughts
The global crypto market has continued to change in value. The recent fluctuation has brought losses which resulted in bearishness for Bitcoin and altcoins. These changes have also affected the global market cap value, which is currently about $1.02 trillion. If the changes continue, they will lower the global market cap below $1 trillion.
