The performance of the global crypto market has been through losses as there has been little change. The impacts on Bitcoin and other market coins have continued as the losses continue. There has been a slight decrease in the global market cap value as the losses have slackened. The current change might lower the losses, but it doesn’t mean that the crisis has ended.
Though the market is going through a bearish phase, the positive news has continued. Recently Binance announced new hiring as it needs about 2000 employees for different jobs in various departments. While now, Kraken has followed suit as it has announced hiring 500 staff.
As the market bearishness has continued, various groups have announced layoffs. The recent announcement from Kraken is considered a bold step as companies find it hard to bear the expenses of a large number of employees. It is yet to be seen what will impact this decision.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and other altcoins.
BTC stuck to $20K
The market for Bitcoin has continued to bearish as its value has continued to lower. CleanSpark has purchased new Bitcoin mining rigs. It is counted as one of the main Bitcoin mining companies which have tried to survive the bearish situation. Its current purchase of Bitcoin mining rigs will help the company cope with the current problems.
The latest data shows that Bitcoin has shed 2.21% over the last 24 hours. If we compare the data for the last seven days, it has shed 29.93%. The losses have continued, affecting its activity.
The price value for Bitcoin is in the $20,817.94 range. The market cap value for Bitcoin is in the $399,203,163,534 range. In contrast, the 24-hour trading volume of this coin is about $32,136,088,700.
BNB sees a stable day
Binance has said that the current bearish wave is no problem for its projects. Its DeFi program will remain unchanged as it recently announced hiring 2,000 employees. The mentioned announcement has sent a bold message across the market. Though Binance Coin has faced problems, it is yet to be seen how it will perform in the coming days.
The latest data for Binance Coin shows that it has receded 0.82% over the last 24 hours. The comparison for the last seven days shows that it has shed 24.45%. The value of BNB has seen no improvement as the market remains bearish.
The price value for BNB is in the $217.55 range. In comparison, the market cap value for this coin is about $35,521,014,334. The 24-hour trading volume of this coin is about $1,327,128,307.
SHIB continues bearish
Shiba Inu has continued to lower value as the losses for the market remain unchanged. The latest data shows it has shed 1.59% over the last 24 hours. The seven-data shows that it has shed 21.35%. The increasing losses have brought its price value to the $0.000008122 range.
The market cap value for SHIB is about $4,486,727,557. The decreasing market cap value shows that sell-offs have increased. The 24-hour trading volume of this coin is about $288,671,984. The same amount in its native currency is about 35,326,233,671,642.
UNI trying to recover
Uniswap has also made attempts to recover value as the market remains bearish. The latest data shows that UNI has lost 3.99% over the last 24 hours. In comparison, the losses for the last week are about 21.45%. The changes have continued to remain negative, affecting its price value.
The current price value for UNI is in the $3.92 range. If we look at the market cap value for this coin, it is estimated to be $2,820,469,999. Its 24-hour trading volume of it is about $139,772,849. The circulating supply of it is about 719,949,298 UNI.
Final Thoughts
The global crypto market hasn’t been able to see improvement as the losses continue. The changes have resulted in a recession for Bitcoin, Binance Coin, and other giants. Despite attempts for their recovery, there has been little change. The global market cap value has been reduced to $901.26 billion while it continues to lower.
