The global crypto market has continued to fluctuate due to difficulties. The value of Bitcoin, Ethereum, and other major names hasn’t been able to stay in a stable range. Instead, the speedy fluctuations have emaciated them. As the new changes continue, the market has continued to suffer. The investors in the market have also seen losses resulting from the uncertain situation. If this situation persists, the market will reduce its value further, which might enter a difficult phase.
OpenSea has adopted the scarcity tracking tool OpenRarity. The result of this change is being able to see how rare a specific NFT is in the market. The users can see the rarity of Cool Cats, Pudgy Penguins, and Moonbirds collections. The users won’t need third-party apps for scarcity checks, and this tool can easily assert the NFTs’ value in the market. Other market additions include augmenting airdrops and making creator’s fees more prominent.
The scarcity check tool will be able to check about 8,888 to 10,000 NFTs included in the collection of NFTs from Pudgy Penguins, Cool Cats, and Moonbirds. Their algorithmically generated images will help identify and check their respective NFTs. The check will help users determine the price value of a specific NFT without compromising their safety.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC stays regressive
Colorado has become the latest US state to allow residents to pay tax in Bitcoin. As a result of this change, Colorado has become the first US state that has officially recognized acceptance of tax in crypto.
The recent changes for Bitcoin show a continuation of the bloodbath. The latest data shows it has shed 2.54% over the last 24 hours. The seven-day data for Bitcoin shows that it has shed 8.35%.
The price value for Bitcoin is currently in the $18,443.48 range. The market cap value for BTC is estimated to be $353,325,424,832. The 24-hour trading volume of Bitcoin is about $47,110,790,186.
ETH reverses
Though Ethereum is undergoing hard times, it has caused some good changes for the market. Recent research suggests that Ethereum NFTs are driving crypto adoption in Central and South Asia. According to the mentioned study, of all the crypto-related web traffic in the region, more than half is going to NFTs sites.
The performance of Ethereum has continued to show a negative trend. The latest data shows it has shed 6.13% over the last 24 hours. The losses for the last seven days are about 22.79%.
The price value for ETH has lowered to the $1,249.97 range. The market cap value for this coin is estimated to be $153,083,428,999. The 24-hour trading volume of this coin is about $20,944,897,795.
DCR in losses
The performance of Decred has shown no signs of hope because of the continuing losses in the market. The latest data shows that it has shed 1.42% over the last 24 hours. In comparison, the weekly data shows a loss of 13.29%. The price value of DCR has also been affected as it lowered to the $23.90 range.
The market cap value for Decred is estimated to be $343,344,066. The 24-hour trading volume of this coin is about $2,380,927. The same amount in its native currency is about 99,624 DCR.
CELO remains red
The performance of Celo has been no different from other coins in the market. The latest data shows that it has shed 2.81% over the last day. The weekly data for this coin shows that it has shed 7.87%. The price value for CELO is currently in the $0.7336 range.
The market cap value for Celo is estimated to be $339,564,236. The 24-hour trading volume of this coin is about $17,017,445. The circulating supply of this coin is about 462,324,704 CELO.
Final Thoughts
The global crypto market has seen a speedy change in the market. The latest data shows that the value of Bitcoin, Ethereum, and others has been affected by bearish changes. The result of bearish changes has been an overall trend of losses in the market. The global market cap value has also seen a depreciation. The latest data shows that it is currently in the $899.02 billion.
