The global crypto market has seen another change as it couldn’t retain its gains. The ensuing situation soon deprived it of its gains as the bears dominated. The changing situation has affected Bitcoin, Binance Coin, and others. As the performance of these coins and other tokens deteriorated, the sell-offs increased. The changed situation wasn’t what the investors expected. The market had gained momentum after a long while, and the bearish wave affected it.
LG has launched an NFT platform with the help of Hedera. South Korea-based digital manufacturers will allow users to buy, sell, and put up digital art or NFTs on their TV sets. Previously Swiss watchmaker, Tag Heuer, had announced that the users would be able to own NFTs on their smartwatches. LG will become another company that will make access to NFTs much easier.
The Seoul-based company announced that LG Art Lab would be available on television WebOS 5.0 or later in the US. As the new movement took place, the users will be able to access artists’ profiles on their TV or come to know about their upcoming works. Hedera Network will provide support to LG Art Lab, and the transactions will take place through Wallypto, an LG-patented wallet.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC turns recessive
MicroStrategy CEO Michael Saylor has said that Bitcoin Lightning Network is the most important technology in the world right now. Saylor has continued to support Bitcoin and its related technologies in the hard times. The recent changes in regulations and market value have severely affected Bitcoin.
The recent changes for Bitcoin show a reversal of gains. The latest data shows that it couldn’t retain its gains and shed 0.53% over the last 24 hours. The weekly data shows a loss of 0.62% for Bitcoin.
The price value for Bitcoin has also been affected as it is currently about $19,693.66. The market cap value for Bitcoin is estimated to be $376,976,196,390. The 24-hour trading volume of this coin is about $27,935,274,329.
BNB takes downturn
Nigeria has begun negotiations with Binance for developing a digital hub for digital economic growth. The African nation and crypto giant are in talks to negotiate something like Dubai Virtual Free Zone. Nigeria will be the first African nation to secure this facility if the negotiations succeed.
The value of the Binance Coin has also been in losses due to a bearish market. The recent data shows that it has shed 1.44% over the last 24 hours. The gains for the last seven days are about 0.44%.
The price value for BNB is currently in the $374.42 range. The market cap value for this coin is about $44,274,960,234. The 24-hour trading volume of this coin is about $600,858,104.
KLAY bearish
The performance of Klaytn has also shown lag due to market bearishness. The latest data shows that it has regressed 2.30% over the last 24 hours. In contrast, the seven-day data shows a recession of 3.21%. The negative changes have brought KLAY’s price value to the $0.2241 range.
The market cap value for Klaytn is estimated to be $675,822,896. The 24-hour trading volume of this token is about $27,300,138. The same amount in its native currency is about 121,197,398 KLAY.
NEO loses momentum
The value of Neo has also seen new lows due to a decline in the market. The latest data shows that it has regressed 0.84% over the last 24 hours. The seven-day data shows that it has added 1.76%. The price value for NEO has remained in the $8.14 range.
The market cap value for Neo is currently estimated to be $644,536 213. The 24-hour trading volume of this token is about $30,509,964. The circulating supply of this token is about 70,538,831 NEO.
Final Thoughts
The global crypto market has seen yet another bearish wave. The recent changes affected the performance of Bitcoin, Binance Coin, etc. The market has been attempting to recover from bearishness but has seen no significant change. The global market cap value has also been affected. The recent data shows that it is estimated to be $972.65 billion.
