The global crypto market hasn’t been able to revive from the ongoing losses. These changes have brought Bitcoin and altcoins to lows again as they tried to improve. The recent changes have eroded the recent gains as the market strives to face difficulties. The market was moving fine during the recent positive change, but it couldn’t continue the momentum. How much lower the current bearishness will take the market is yet to be seen.
G20 watchdog has announced the preparation of a robust crypto regulations framework. According to the available information, this framework is expected to come in October. The recent changes in the market spurred the speedy development of policies regulating crypto. The details of this framework are not known yet, and they might be released to the public soon.
The recent change was the announcement of the completion of a draft regarding crypto policy from the US treasury. The draft resulted from an executive order from President Biden to cope with the ongoing problems.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC at $19K
Even though the market is bearish, Wall Street investors expect Bitcoin to rise to $100K. Bitcoin has seen a speedy decline over the past few weeks and has lagged in the $20K range. Their expectations are seen by many as too optimistic, but their experience in various markets might prove them right.
The latest data for Bitcoin shows that it has shed 3.20% over the last day. The changes for Bitcoin over the last seven days show that it has shed 1.38%. The dominant trend of bearishness has continued to affect it.
The price value for Bitcoin is in the $19,930.94 range. If we look at the market cap value for this coin, it is estimated to be $380,941,235,362. The 24-hour trading volume of Bitcoin is about $24,591,005,864.
BNB in a downwards direction
Binance has prospered despite the ongoing bearishness in the market. The current allegations from reports claiming it to be breaking US sanctions might affect its business. Some Reuters reports have alleged it servicing Iranian miners despite US sanctions.
Binance Coin has continued to suffer as it has shed 2.26% over the last day. The past week was no good either as it has shed 2.54%. The latter value has seen a speedy decline as the market receded.
The current price value for BNB is in the $225.76 range. The market cap value for the same coin is estimated to be $36,861,873,13. The 24-hour trading volume of the same coin is about $1,002,594,940.
HBAR receding fast
Hedera Hashgraph has also been facing difficulties in retaining value. It has shed 3.53% over the last day as the bearish current strengthened. These changes resulted in an increase in weekly losses to 4.00%. The mentioned changes have brought its price value to $0.06108.
The market cap value for HBAR is estimated to be $1,287,846,030. The 24-hour trading volume of this coin is about $20,876,383. The same amount in its native currency is about 341,790,760 HBAR.
EGLD sees no change
Elrond has also attempted improvement, but there hasn’t been any. The recent changes have brought losses of 1.21% over the last day. The changes for the weekly period show that it has shed 7.09%. As these changes continue, its price value will decrease quickly. The current price value for this coin is about $50.39.
Looking at the market cap value for EGLD, it is estimated to be $1,135,941,454. The 24-hour trading volume of this coin is about $51,319,838. The circulating supply of this coin is about 22,542,480 EGLD.
Final Thoughts
The global crypto market hasn’t been able to regain momentum. The losses for Bitcoin, Binance Coin, and others have continued. The ongoing bearishness has likely affected individual investors and companies. The decreased profits have lowered the investments. Currently, the global market cap value is below $900 billion, about $889.63 billion.
