The global crypto market has continued to be bearish as the market has kept fluctuating. The recent hours brought it losses as the sell-offs increased. The value of Bitcoin, Binance Coin, and others has continued to decrease. The change in the pace of the gains has affected investors in the market in the hope of gains. The narrowed chances of gains have created a sense of disappointment amongst investors. If the current situation persists, major sell-offs are expected.
Voyager Digital was one of the major names that declined due to a bearish market. The said company had filed a request for bankruptcy. In a recent development, it has plans to hold an auction for its assets on 13 September. Only qualified bidders will be able to participate in the auction; these are the ones who submitted offers on 6 September.
According to media outlets, the auction results will be revealed on 29 September. The auction is being held two months after it filed for bankruptcy. As the bankruptcy court is supervising the process, it will approve the sale of assets to successful bidders. The counsel of Voyager Digital had said on 4 August that 22 companies were in contact with them for placing bids. The auction was to be held on 26 August, but the time was extended as interested parties requested for an extension.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC in losses
The negative trend for Bitcoin has continued despite efforts from investors. The recent changes show that its market cap has dropped considerably. The previous months have seen a continuous decline in the value of Bitcoin.
The recent changes for Bitcoin show that its negative movement hasn’t stopped. The latest data shows that it has shed 6.18% over the last 24 hours. The weekly data shows that the losses of Bitcoin are about 8.01%.
The increasing trend of losses has brought Bitcoin price value to the $18,723.12 range. The market cap value for BTC is estimated to be $357,687,006,597. The 24-hour trading volume of this coin is about $39,452,077,679.
BNB continues red
Binance recently took a decision to merge stablecoins so that USDC is strengthened. Circle CEO Allaire has said that they support this decision. The mentioned CEO said that it would standardize USDC as a stablecoin.
The performance of Binance Coin has also shown a trend of decline. The recent changes show that it has shed 6.74% over the last 24 hours. The weekly data shows that the losses of this coin are about 8.37%.
The price value for BNB is currently in the $263.09 range. The market cap value for this coin is estimated to be $42,513,676,821. The 24-hour trading volume of this coin is about $1,063,373,693.
TRX slipping downhill
The value of Tron has also seen a negative trend due to a bearish market. The recent data shows that it has regressed 5.66% over the last 24 hours. The weekly data shows a loss of 6.38%. The price value for TRX is currently in the $0.06034 range.
The market cap value for Tron is estimated to be $5,573,771,101. The 24-hour trading volume of this token is about $450,561,188. The same amount in its native currency is about 7,467,168,652 TRX.
AVAX unable to retain value
The performance of Avalanche has been no good due to the declining value of the market. The recent data shows that it has shed 9.61% over the last day. The weekly data shows a loss of 7.94%. As the negative changes continue, the price value for TRX has been lowered to the $18.27 range.
The market cap value for AVAX is estimated to be $5,384,659,993. The 24-hour trading volume of this token is about $361,555,617. The circulating supply of this token is about 294,782,244 AVAX.
Final Thoughts
The global crypto market couldn’t get out of the bearish flux. The changes for Bitcoin, Binance Coin, and others show a trend of losses. As the negative trend continues, the global market cap value has decreased. The recent data shows that it has been reduced to $938.35 billion by continuing bearishness.
