The global crypto market has continued the negative trend as it couldn’t make up for losses. The recent changes show that Bitcoin, Binance Coin, and others have shown a recessive trend. The dominant trend for losses has continued for a couple of days, affecting the market’s gains. As the market has seen losses, there has been a decrease in new investments. If this situation persists further, the market might significantly decline in the global market cap value.
Terra has plummeted more than 33% as Do Kwon has faced arrest in Seoul. The court issued arrest warrants for Terra’s co-founder and five other individuals. The response from investors shows that the trust in Terra has lowered considerably and might drop further. Do Kwon had previously stated that he intends to cooperate with law enforcement agencies.
According to the prosecutor’s office, all six individuals are residing in Singapore. The manhunt for Do Kwon and others involved in Terra has begun, and there is a possibility that all these will be arrested soon. The warrant states that Kwon and his accomplices violated capital markets law. Terra 2.0, the company launched after the collapse of Terra, has gone down after the news of arrest warrants.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC back to $20K
Rich Dad Poor Dad author Robert Kiyosaki has said that the Bitcoin revolution will be bigger than the gunpowder revolution. Even though the Bitcoin price recently declined more than 9%, the author is bullish on it. Various big names have a firm belief in the rise of Bitcoin.
The recent changes for Bitcoin show a continuation of the decline of Bitcoin. The latest data shows that it has shed 10.09% over the last 24 hours. In comparison, the weekly data for Bitcoin shows a gain of 8.16%.
The price value for Bitcoin is currently in the $20,278.33 range. The market cap value for Bitcoin is estimated to be $388,928,997,953. The 24-hour trading volume of this coin is about $47,563,848,012.
BNB stays recessive
Binance is to appear in an Italian court for outage charges. A lawsuit was filed against it for exchange outages. The said company’s representative has to appear in court this Thursday. On the other hand, Binance’s CEO has expressed support for EU crypto regulations and said that these would become a global standard.
The value of the Binance Coin has also shown a recessive trend. The latest data for this coin shows that it has shed 5.51% over the last day. In comparison, the weekly data shows a gain of 5.97%.
The price value for BNB is currently in the $279.22 range. The market cap value for this coin is estimated to be $45,162,697,715. The 24-hour trading volume of this coin is about $1,138,726,091.
XRP in losses
XRP has also been affected by the changing market. The latest data shows that it has declined 5.61% over the last 24 hours. In comparison, the weekly data shows a gain of 4.91%. The fluctuations in value have resulted in bringing XRP’s price value to the $0.3359 range.
The market cap value for XRP is estimated to be $16,763,129,766. The 24-hour trading volume of this coin is about $1,476,797,045. The same amount in its native currency is about 4,389,569,415 XRP.
DOGE continues to lose
Dogecoin has also seen a recessive market due to reduced gains. The latest data shows that it has shed 4.92% over the last day. In comparison, the seven-day data shows that it has added 2.24%. The price value for DOGE is currently in the $0.06067 range.
The market cap value for Dogecoin is estimated to be $8,063,798,232. The 24-hour trading volume of this coin is about $483,437,466. The circulating supply of this coin is about 132,670,764,300 DOGE.
Final Thoughts
The global crypto market has seen a negative trend for the last few days. There has been no significant change over the last 24 hours as losses continue. The continued losses have affected Bitcoin, Binance Coin, and others. The global market cap value has also seen a decline. The latest data shows that it is estimated to be $995.47 billion.
