The global crypto market has seen a decline in value over recent hours. The performance of Bitcoin, Binance Coin, and others shows that there has been no significant improvement. In contrast, the market has declined in value as there has been an increased downward pull. The changes in the market show that there has been no improvement despite hopes of bullishness due to Christmas. As the market continues to lower gains, there is a chance that bears will strengthen.
Bitcoin mining hashrate has plunged more than 30% as America’s big winter storm continues. As a result of these changes, the BTC hashrate dropped to 155 EH/s from 230 EH/s. The ongoing blizzard has resulted in the creation of a unique set of challenges for Bitcoin miners in the US. The blizzard has continued, as a result of which many mining facilities have been shut down. Thousands of homes and businesses have been without power amid an Arctic blast and winter storm.
Heavy storms and winds tore down power lines while temperatures have also dropped to dangerous lows, leaving several dead. As the hashrate has dropped, there has been a considerable decline in the speed of transactions. The extreme weather condition has resulted in the announcement of the cessation of mining facilities by various miners.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC in trouble
Bitcoin has seen lowered volatility over Christmas, as the market has seen lowered losses. The changes in the market show that it has traded below $17K but hasn’t seen much change. Some analysts have argued that it is likely to continue like this.
The recent changes for Bitcoin show a continuation of lag. The latest data shows that it has shed 0.07% over the last 24 hours. The seven-day data shows that it has added 0.63%.
The price value of BTC is currently in the $16,826.74 range. The market cap value of this coin is estimated to be $323,795,370,983. The 24-hour trading volume of Bitcoin is about $9,421,243,131.
BNB stays green
Binance has announced the addition of SHIB worth $76 million. As a result of this addition, there is a big pump expected in the value of the largest meme coin. SHIB has seen no big changes in value for a long.
The performance of Binance Coin has shown hope to investors. The latest data shows that it has added 0.26% over the last 24 hours. The seven-day data shows that it has shed 0.95%.
The price value of BNB is currently in the $244.71 range. The market cap value of this coin is estimated to be $39,144,474,244. The 24-hour trading volume of the same coin is about $252,167,698.
TON bullish
Toncoin has also stayed bullish as the market remained favorable to it. The latest data shows that it has added 3.03% in a day. The weekly data shows that it has declined by 10.55%. The price value of TON is currently in the $2.44 range.
The market cap value of Toncoin is estimated to be $2,985,395,900. The 24-hour trading volume of this coin is about $62,158,350. The same amount in its native currency is about 25,430,557 TON.
XMR in gains
Monero has been in gains over the recent hours as the influx continues. The latest data shows that it has added 1.31% over the last 24 hours. The seven-day data shows that it has added 0.32%. The price value of XMR is currently in the $144.14 range.
The market cap value of Monero is estimated to be $2,625,944,608. The 24-hour trading volume of this coin is about $41,400,557. The circulating supply of the same coin is about 18,218,210 XMR.
Final Thoughts
The global crypto market has seen a decline in performance despite attempts to recover value. The recent changes for Bitcoin, Binance Coin, and others show a difficult situation. Though some coins have shown a positive trend, there has been little change in the overall performance. The global market cap value has continued to face a downward pull. The latest data shows that it is estimated to be $809.74 billion.
