The performance of the global crypto market has continued to fluctuate. It is evident from the losses for Bitcoin and some altcoins. While if we look at the performance of Binance Coin and its following altcoins, there has been a trend of increasing gains. Thus, the polarity of the market will determine the upcoming trend. If the bearish coins dominate, it will affect the market. While if the bullish ones can retain momentum, they will strengthen the market.
The US government and representatives have shown a tough stance toward Bitcoin miners. The recent change has been the demand from senate democrats to get data from Bitcoin miners. They have asked for a detailed report from regulators about energy consumption, environmental impacts, and other factors.
A letter from congress members including Senator Elizabeth Warren, Representative Jared Huffman, and others to the Department of Energy and Environmental Protection Agency. According to the available details, they have demanded emissions and energy use information. While the regulators have published data acquired from seven miners.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC sees a bearish day
The value of Bitcoin has continued to fluctuate due to market bearishness. The changes in Bitcoin value have also affected Bitcoin miners. According to their claims, their profits have come down by 58%. They have hardly coped with these losses as their gains halved and depreciated.
The latest data for Bitcoin shows that it has lowered its gains. Though the losses are not that big, it has shed 0.90% over the last day. If we compare the weekly performance, Bitcoin has added 1.71%.
These changes have impacted the price value of Bitcoin, which is about $21,266.31. If we compare the market cap value for Bitcoin, it is estimated to be $408,204,879,112. The 24-hour trading volume of the same coin is about $23,405,895,754.
BNB continues to gain value
UK Treasury has disclosed the news that its representatives have had meetings with top crypto executives during the first quarter of the year. According to the disclosure, they met with Binance, Paxos, Coinbase, Circle, and others’ representatives.
The value of Binance has strengthened as it has added 1.39% over the last day. The weekly performance shows that the gains for this coin are about 7.94%. The strength on its part shows that it will gain further.
The price value for BNB is in the $252.58 range while improving further. The market cap value for this coin is estimated to be $41,269,180,689. The 24-hour trading volume of the same coin is about $1,099,968,331.
QNT turns red
Quant has been facing bearishness like Bitcoin as the situation for it remains unfavorable. The latest data shows that it has shed 4.63% over the last day. If we compare the weekly performance, it has added 24.40%. The price value for this coin is about $101.10.
If we look at the market cap value for QNT, it is estimated to be $1,221,227,325. The 24-hour trading volume of the same coin is about $72,671,926. The same amount in its native currency is about 718,416 QNT.
HNT adds further
Helium has continued to grow in value as the influx of capital continues. The latest data shows that it has added 0.38% over the last day. The seven-day performance shows a depreciation of 4.50%. The price value has fluctuated accordingly as it is about $9.02.
If we look at the market cap value for Helium, it is estimated to be $1,099,224,724. The 24-hour trading volume of this coin is about $7,011,089. The circulating supply of this coin is about 122,016,384 HNT.
Final Thoughts
The global crypto market has remained uncertain due to a clear bipolarity. Bitcoin and its followers are moving in a negative direction. While Binance Coin and some others have continued to gain value. It is yet to be seen which one of the two dominates. The global market cap value has also fluctuated. It is currently estimated to be $970.94 billion.
