The global crypto market has seen a negative trend as it couldn’t retain gains. The ongoing changes have brought the market to a difficult situation as it has again turned regressive. The value of Bitcoin, Binance Coin, and others has continued to reduce due to increasing pressure. As the market value continues to reduce, there has been increasing pressure on investors. The value of the market will probably decrease further if the current situation persists.
Cardano’s founder has said that there is something special coming in November. Charles Hoskinson has teased the Cardano community with a new announcement today. He hasn’t given any details of the news that he shared. He attached a GIF with the Good News Everyone from Professor Farnsworth’s 1999 animated show. The meme is used by anyone who has good news to share. Cardano recently rolled out its Vasil Update in September.
The delay in the Vasil update had been a matter of worry for Cardano community members. The ADA token, which had seen a significant increase till the upgrade, hasn’t been able to make a significant impact since then. During a recent chat with a YouTuber, Hoskinson said the Cardano network was in ‘wait-and-see’ mode following the release of the Vasil hard fork.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC turns recessive
Kazakhstan is among the top-3 Bitcoin mining destinations after US and China. The top-three countries contributing to the hashrate of Bitcoin have continued to eat away the share of other players, which include Malaysia. The change in policies and other reasons have contributed to the strength of these countries.
The performance of Bitcoin has shown a negative trend over recent hours. The latest data shows that it has shed 0.15% over the last 24 hours. The weekly data shows that it has added 0.16%.
The fluctuations in influx have resulted in the price value of BTC in the $19,172.10 range. The market cap value for Bitcoin is estimated to be $367,668,310,193. The 24-hour trading volume of Bitcoin is about $15,713,073,198.
BNB stays bearish
Binance stablecoin has clocked in market share at its all-time high as the supply tops $20 billion. Binance stablecoin has seen a significant value change due to increased investor trust. The value of stablecoins had seen a considerable decline after the collapse of Terra.
The performance of Binance Coin has also shown a negative trend. The latest data shows that it has shed 0.10% over the last day. The weekly data shows that it has receded by 0.11%.
The price value for BNB is currently in the $269.94 range. The market cap value for this coin is estimated to be $43,155,662,237. The 24-hour trading volume of this coin is about $385,008,207.
LUNC regressive
The recent changes for Terra Classic haven’t been favorable as it has receded in value. The latest data shows that it has shed 2.77% over the last day. The weekly performance of this coin shows a loss of 13.82%. The price value for LUNC is currently in the $0.000228 range.
The market cap value for Terra Classic is estimated to be $1,502,184,450. The 24-hour trading volume of this coin is about $140,413,562. The same amount in its native currency is about 6,589,688,537,260 LUNC.
EGLD stays bullish
The performance of Elrond has been different from other coins in the market. The latest data shows that it has added 0.86% over the last 24 hours. The weekly data shows that it has shed 1.15%. As the market turned bullish, the price value for EGLD reached the $55.64 range.
The market cap value for Elrond is estimated to be $1,309,968,015. The 24-hour trading volume of this coin is about $30,414,628. The circulating supply of this coin is about 23,593,852 EGLD.
Final Thoughts
The global crypto market has seen a negative trend due to a lowering influx of capital. The performance of Bitcoin, Binance Coin, and others showed regression. As there has been a negative trend in the market, the global market cap value has also declined. The latest data shows that it is estimated to be $920.11 billion.
