The global crypto market has seen a trend of decline in value over recent hours. The performance of Bitcoin, Binance Coin, and others shows that there has been little improvement. As the market has lowered its losses, there has been an improvement in the influx of capital. Though the market has continued to shed value, there is hope that the market will soon regain momentum. The bearishness has seen a considerable change as the market is likely to turn bullish soon.
Ripple’s lawyer has urged FTX venture investors to challenge SEC. The General Counsel of Ripple stated that Kevin and all other FTX venture investors should challenge the SEC. Since the arrest of FTX, US watchdogs have made their best attempts to hold him liable for fraud and other major crimes. However, the US SEC has mentioned in its statement that the company raised $1.8 billion from equity investors in May 2019 to perform the alleged actions.
In a recent interaction with media representatives, Kevin O’Leary mentioned that he and some other investors might not get anything in return. He further added that the venture investors who lost their money understand this problem. Kevin stated that he doesn’t want anything until the users get their money back to their accounts. SEC lawyer said that the investors should stop SEC from using their money to proceed with the case.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC lowering losses
The Russian government has continued to oppose the use of Bitcoin for internal trade. Instead, it is of the view that it should be used only for foreign trade. There have been restrictions regarding the use of Bitcoin by common people.
The performance of Bitcoin has shown little hope as the bearishness continues. The latest data shows that it has shed 1.65% over the last 24 hours. The seven-day data shows that it has declined by 2.51%.
The price value of BTC is currently in the $16,729.37 range. The market cap value of Bitcoin is estimated to be $321,809,550,639. The 24-hour trading volume of Bitcoin is about $22,047,669,352.
BNB continues bearish
There has been a considerable decline in the value of Binance Coin as Mazars suspended its ties. Various crypto audit firms have reconsidered their position in order not to be involved with crypto in a turbulent situation.
The performance of Binance Coin has also shown a negative trend over recent hours. The latest data shows that it has shed 4.99% over the last day. The seven-day data shows that it has regressed by 16.97%.
The price value of BNB is currently in the $238.65 range. The market cap value of this coin is estimated to be $38,176,557,101. The 24-hour trading volume of the same coin is about $1,547,507,939.
XRP still red
XRP has also been in a bearish mood as the market continues to suffer. The latest data shows that it has shed 3.15% over the last 24 hours. The seven-day data shows that it has regressed by 8.98%. The price value of XRP is currently in the $0.3533 range.
The market cap value of XRP is estimated to be $17,787,586,313. The 24-hour trading volume of this coin is about $912,965,836. The same amount in its native currency is about 2,582,200,397 XRP.
TRX reviving value
Tron has made attempts to revive its value, but there has been little change. The latest data shows that it has shed 2.29% in a day. The weekly data shows that it has shed 2.20%. The price value of TRX is currently in the $0.05376 range.
The market cap value of Tron is estimated to be $4,947,157,195. The market cap value of this coin is about $247,937,818. The circulating supply of the same coin is about 92,028,849,363 TRX.
Final Thoughts
The global crypto market has seen a negative trend over recent hours. The latest data shows that the value of Bitcoin, Ethereum, and others has lowered. As the market continues to bearish, there has been a decline in the value of gains. The negative trend has affected the influx of capital, leading to sell-offs. The global market cap value is estimated to be $805.96 billion as the market lowers.
