The global crypto market has seen a negative trend due to a bearish market. There has been a continuation of losses for Bitcoin, Ethereum, and others. But there is a slight change and it suggests that the market will soon turn bullish. In contrast to the start of the day, the losses have come to new lows. If the situation enhances further, there is a likely chance that the market turns bullish. A turn in momentum will strengthen the position of investors.
VISA has launched a special NFT auction ahead of FIFA World Cup in Qatar. The giant financial services and payments company is currently the official payments partner of FIFA. VISA has announced the launch of the Masters of Movement NFTs. According to the firm, the NFTs are inspired by unique goals from five football legends. These include Jared Borgetti, Tim Cahill, Carli Lloyd, Michael Owen, and Maxi Rodriguez.
The movements from these football stars were turned to NFT by the award-winning SK Studio. Further details reveal that the bidding of NFTs has been opened on Crypto.com which serves as the official exchange partner of the 2022 FIFA World Cup. VISA collectors said that the collectors who throw in the winning bid will receive the NFTs will receive them in their wallet while they will also get a high-quality printable file.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC continues recessive
Bitcoin’s hash rate has hit an all-time high as its price value holds above $20K. According to available updates, the Bitcoin hash rate has hit 331EH/s. The data from Glassnode shows that it is the highest hash rate witnessed ever. The increase in hash rate would have repercussions for miners as they have seen recently.
The recent changes for Bitcoin show a continuation of bearishness. The latest data shows that it has shed 0.07% over the last 24 hours. The weekly data shows that Bitcoin has added 1.35%.
The price value of BTC is currently in the $20,487.34 range. The market cap value of Bitcoin is estimated to be $393,170,858,989. The 24-hour trading volume of this coin is about $39,566,563,452.
ETH still in losses
The price surge has put the majority of Ethereum investors in profit. The investors had a rollercoaster year in 2022 as it brought difficult times. Some aspects of it brought success while others proved gut-wrenching.
The value of Ethereum has seen fluctuations due to the bearish trend. The latest data shows that it has shed 0.01% over the last 24 hours. The weekly data shows that it has added 6.49%.
The price value of ETH is currently in the $1,581.51 range. The market cap value of this coin is estimated to be $193,592,433,107. The 24-hour trading volume of the same coin is about $1,219,170,422.
LINK facing hard times
Chainlink has also faced problems due to the bearish pull. The recent data shows that it has shed 1.22% over the last day. The weekly data shows that it has added 8.92%. The fluctuations in the influx of capital have resulted in bringing LINK’s price value to the $7.75 range.
The market cap value of Chainlink is estimated to be $3,812,554,430. The 24-hour trading volume of this coin is about $351,339,303. The same amount in its native currency is about 45,302,538 LINK.
XLM continues to lower
Stellar has also faced a downtrend as the influx of capital has lowered. The latest data shows that it has shed 1.42% over the last 24 hours. The weekly data shows that it has shed 2.26%. The price value of XLM is currently in the $0.1098 range.
The market cap value of Stellar is estimated to be $2,813,102,953. The 24-hour trading volume of this coin is about $78,032,525. The circulating supply of the same coin is about 25,622,450,796 XLM.
Final Thoughts
The global crypto market has witnessed a decline in value due to lasting bearishness. The recent data for Bitcoin, Ethereum, and others show fluctuations. As the market has seen a decline in value, the investors have also been affected. The global market cap value has also seen a change due to a negative trend. The latest data shows that it is estimated to be $1.01 trillion.
