The global crypto market hasn’t been able to revive as the market continues to lower. These changes have resulted in increased losses for Bitcoin, Binance Coin, and others. As the market has continued to recede, there has been an increasing trend of sell-offs. The investors don’t feel secure about their capital because of the continuous losses. As the market continues to change, the global market cap value hasn’t been able to improve.
KPMG will audit the new Pound-based stablecoin GBPT as it has gained ground. According to the available information, British Pound is one of the top-four traded fiat currencies. As the recent instability in the market has affected various coins, stablecoins are no exception. One of these is Terra, which collapsed and affected the overall market. So, this audit will look for its reliability and viability.
As the US treasury has prepared the draft for crypto regulation, it will spur similar actions across the globe. Many countries were waiting for the US or other major powers to finalize their crypto policies.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC still on backfoot
According to a United Nations report, Kenya has remained in the lead in crypto adoption. As it has remained crypto-friendly, it has helped create policies helping promote Bitcoin and other digital assets. Unlike any other African country, it has gone for minimum possible restrictions.
The latest data for Bitcoin shows that it has receded 2.34% over the last 24 hours. The gains for the last seven days are about 3.16%. The decreased margin of gains shows that it has continued to erode value.
The price value for Bitcoin is in the $20,418.51 range. If we compare the market cap value for Bitcoin, it is estimated to be $389,811,348,376. The 24-hour trading volume of Bitcoin is about $27,268,570,417.
BNB facing recessive trend
US security and regulatory authorities would be probing the allegations of Binance serving Iranian crypto miners. According to the available updates, there are allegations of Binance evading US sanctions to help miners from Iran and promote its business. The probe will disclose the details and reality of these allegations.
Binance Coin has continued to face turbulent times as its losses remained 0.57% for the last 24 hours. Its weekly performance shows that its gains remain at 2.81%. Like Bitcoin, it has also decreased the weekly gains to a considerable range.
The price value for BNB is in the $231.46 range. If we compare the market cap value for the same coin, it is estimated to be $37,791,737,908. The 24-hour trading volume of the same coin is about $945,971,339.
MATIC turns bullish
Polygon has shown much better performance over the recent days. It has added 2.76% over the last day, improving its value. The weekly performance shows an addition of 21.43% as it remains consolidated. The price value for the same coin is improving and is currently about $0.05732.
The market cap value for MATIC is estimated to be $4,589,121,993. The 24-hour trading volume of the same coin is about $485,593,574. The same amount in its native currency is about 847,232,327 MATIC.
LTC moving lower
Litecoin has also declined as the market has seen the recessive trend. These changes have brought a loss of 3.50% over the last day. The changes for the last seven days show a loss of 1.56%. The price value for this coin has lowered to $50.47 due to the recession.
The market cap value for LTC is estimated to be $3,568,238,719. The 24-hour trading volume of the same coin is about $451,697,240. The circulating supply of this coin remained 70,695,381 LTC.
Final Thoughts
The global crypto market has continued to lower in value as there has been little push from the investors. The bearishness continues even though it hasn’t brought a major change to the market this time. The result has been a slightly lowering of price value for Bitcoin, Binance Coin, and others. These changes have brought the global market cap value to $910.94 billion.
