The global crypto market’s problems haven’t come to an end. Instead, Bitcoin and other coins have continued to fluctuate. The result of these changes has been depreciation which has hit the investors hard. The need for stability has grown more than ever as the losses have weakened the market. If the changes continue, the market might further lower the global market cap value.
Kazakhstan has continued its crypto-friendly policies. It has continued to provide favorable conditions for crypto mining as it utilizes its excess energy while giving revenues in return. According to the latest available updates, crypto exchanges would be able to operate legally and create their bank accounts.
It has also created an opportunity for crypto exchanges to get representation in Astana International Finance Center in 2022. It has moved in contrast to other countries like China, which has gone for tougher regulations regarding crypto.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC wavering at the $21K range
Though Bitcoin has faced hard times, developers and crypto enthusiasts are rejoicing in it. According to analysts, hard times are good for Bitcoin, which has seen some great developments during bearish markets. One of the great achievements that it made during hard times was Bitcoin Lightning Network. Thus, this time there are equal chances for innovation.
The latest data shows that Binance has continued to fluctuate as it has shed 0.12% over the last 24 hours. In comparison, the losses for the last seven days are about 30.35%. The latter shows a negative tendency affecting Bitcoin metrics.
If we look at the price value for Bitcoin, it is in the $21,122.86 range. In comparison, the market cap value for Bitcoin is estimated to be $402,853,606,544. The 24-hour trading volume of this coin is about $45,001,841,527.
BNB trying to stay bullish
Binance has shown signs of growth despite the losses for the overall market. It is looking forward to hiring 2,000 employees while other firms are going for layoffs. According to Changpeng Zhao, the CEO of Binance, they have plans to hire the mentioned number of employees. It will help in filling vacancies that will enhance Binance’s services.
The latest data for Binance Coin shows that it has added 2.17% over the last 24 hours. In comparison, the losses for the last seven days are about 25.37%. The positive changes on daily metrics show improvement.
Its price value has also seen enhancement as it is about $216.86. The market cap value for BNB is estimated to be $35,332,895,658. The 24-hour trading volume of this coin is about $1,970,204,572.
DOT trying to rise
Polkadot has also made attempts to improve its value. The latest data shows it has added 5.07% over the last 24 hours. In comparison, the seven-day losses for this coin are about 17.76%. Its gains have led to decreasing the weekly losses and improving the price value.
The current price value for it is in the $7.56 range. If we look at the market cap value for this coin, it is estimated to be $7,459,687,977. The 24-hour trading volume of this coin is about $941,587,180. The same amount in its native currency is about 124,655,619 DOT.
TRON adds a considerable amount
Tron has also been bullish as the market remained favorable for it. It has added 8.07% over the last 24 hours. The weekly losses for this coin remained at 26.07%. The price value for this coin is in the $0.05965 range.
If we look at its market cap value, it is estimated to be $5,532,934,050. The 24-hour trading volume of this coin is about $2,050,539,575. The circulating supply for this coin remained at 2,050,539,575.
Final Thoughts
The global crypto market hasn’t seen stability, even though it has been through a free-fall situation. The losses for the market continue as Bitcoin and other coins have continued to face hard times. These losses have resulted in a decrease in global market cap value. It has decreased to $905.51 billion as per the latest updates. It might go even lower if the market continues to be bearish.
