The global crypto market has continued to face chaos due to consistent turbulence. The performance of Bitcoin, Binance Coin, and others shows no improvement. As the market continues to face problems, there has been a fluctuation in the influx of capital. The collapse of big companies and their continuing curse has had impacts on the market. As the market continues to face problems, there is little chance of stability of individual coins.
The CEO of collapsed Terraform Labs, Do Kwon, has been reportedly located in Serbia. The Korean ministry of justice is asking Serbia to issue a warrant for the Terraform Labs founder. The local news outlets confirmed that Do Kwon is currently hiding in Serbia though there is no confirmation regarding his possible facilitators. An official South Korean announcement said that they recently received intelligence regarding Do Kwon’s presence in Serbia and it was found t be true.
The South Korean authorities were aware that Do Kwon had fled somewhere from Dubai. But there was no information regarding his final destination, causing consternation. Even though the current details regarding his location have been revealed, there is no clarity why he chose Serbia. The authorities are making legal arrangements to ensure that he is brought to justice.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC again bearish
According to new updates, Bitcoin Lightning Network is to be used for fiat transfers between the EU and Africa. CoinCorner and Bitnob teamed up for the purpose of cross-border transactions between the UK and Africa. As said above, Bitcoin Lightning Network will be used as a facilitator for this purpose.
The performance of Bitcoin shows that it has continued to face problems. The latest data shows that it has shed 1.18% over the last 24 hours. The seven-day data shows that Bitcoin has shed 1.79%.
The price value of BTC is currently in the $16,965.55 range. The market cap value of Bitcoin is estimated to be $326,276,149,908. The 24-hour trading volume of Bitcoin is about $18,254,697,936.
BNB turns recessive
Binance’s CZ has cleared the air regarding the possible disruption, as BNB remains unaffected. Binance has refuted rumors regarding the possible hacking of cryptocurrencies. The exchange suddenly saw a BNB rally on its neutral bearing, leading to different rumors.
There has been no improvement in the performance of Binance Coin over recent hours. The latest data shows that it has shed 4.39% over the last day. The seven-day data shows that it has shed 5.97%.
The price value of BNB is currently in the $277.40 range. The market cap value for this coin is estimated to be $44,375,614,187. The 24-hour trading volume of the same coin is about $633,499,809.
UNI in losses
The performance of Uniswap has also shown a negative trend as it couldn’t regain momentum. The latest data shows that it has shed 3.86% in a day. The weekly performance of this coin shows that it has shed 8.76%. The price value of UNI is currently in the $5.81 range.
The market cap value of Uniswap is estimated to be $4,427,135,872. The 24-hour trading volume of this coin is about $70,199,107. The same amount in its native currency is about 12,078,212 UNI.
XMR regressive
The performance of Monero has also shown bearishness as it continued to lose value. The latest data shows that it has shed 0.36% over the last 24 hours. The weekly performance of this coin shows that it has added 4.94%. The price value of XMR is currently in the $150.23 range.
The market cap value of Monero is estimated to be $2,736,095,337. The 24-hour trading volume of this coin is about $92,835,082. The circulating supply of the same coin is about 18,212,590 XMR.
Final Thoughts
The global crypto market has continued to face turbulence over recent hours. The performance of Bitcoin, Binance Coin, and others shows a continuing decline. As the market has faced turbulence, there has been a fluctuation in the value of the market. The recent fluctuations have brought the global market cap value to the $842.39 billion range.
