The changes in the global crypto market have continued to bring fluctuations. These changes have resulted in the in bringing losses for Bitcoin, Binance Coin, and others. As the fluctuations continue, the influx of capital to the market has also been reduced. It has resulted in lowering the global market cap, which is already in shambles. If the current situation persists, it can stimulate another recession for the market in the upcoming days.
FTX has continued to expand its business as the market continues to be bullish. They have shown no reluctance in acquiring crypto services offering firms. It has set its sights on acquiring those crypto mining companies facing bearish market problems. Other companies have gone for bailout packages and solutions to help the market.
According to market experts, acquiring digital assets in a bearish market won’t have any negative impacts. Instead, it will benefit those who are looking for long-term benefits. So, FTX is working on a long-term strategy that can bring it assets and ROI.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC still recessive
The changes in the market haven’t only impacted the value of Bitcoin and the mining community. According to the latest updates, June brought losses to miners. As per the available data, its price revenues fell by more than 26% while they continued further. The value of revenue coming from Bitcoin mining was $668 million.
The latest data for Bitcoin shows that it has shed 0.39% over the last day. The changes for the last seven days show that it has shed 8.36%. As the bearish situation persists, the investors have seen no big change.
The price value for Bitcoin is in the $19,223.44 range. If we compare the market cap value for Bitcoin, it is estimated to be $366,843,314,457. The 24-hour trading volume of the same coin is about $20,781,105,242.
BNB remains bullish
Binance CEO Changpeng Zhao has made a 10-year prediction about the future of decentralized finance. He is bullish on crypto, decentralized finance, etc., and has continued to predict good days for it. Also, the Binance business has expanded as new games and companies have launched their NFTs on its platform.
The latest data for BNB shows that it has added 0.82%. The decreased gains have affected its weekly performance, showing a loss of 6.27%. These changes suggest that the investors might have to ready themselves for another lag.
The price value for BNB is about $216.10, as it has stayed recessive. The market cap value has seen no improvement as it is currently estimated to be $35,284,267,459. The 24-hour trading volume of this coin is about $829,438,610.
XTZ continues to add value
Tezos has been continuing to be bullish as it has added 4.68% over the last day. The positive changes have helped it lower the weekly losses to 2.59%. These changes show that its price value is likely to improve. It is currently in the $1.43 range and might improve if the gains continue.
The market cap value for XTZ is about $1,286,412,978. The 24-hour trading volume of this coin is about $78,551,539. The same amount in its native currency is about $54,958,087 XTZ.
FIL continues to add
Filecoin has also stayed bullish, adding 0.50% over the last day. The weekly data shows that it has shed 9.66%. The downtrend has affected the price value for this coin as it is about $5.32. As the downtrend continues, it has affected long-term investments.
The market cap value for FIL is estimated to be $1,206,371,986. The 24-hour trading volume of this coin is about $76,275,390. The circulating supply of this coin remained 226,819,893 FIL.
Final Thoughts
The changes in the global crypto market have continued to affect the coins. The value of Bitcoin, Binance Coin, and others has decreased due to losses. As the losses continue, it has brought the market lasting impacts which have affected the new investments. The changes show that the global market cap value has also been affected. It is currently estimated to be $866.41 billion.
