The global crypto market has taken a turn as it couldn’t retain its gains. The change in its pace has affected the performance of Bitcoin, Ethereum, and others. As the bearish trend set in, it has affected the influx of capital to the market. The new wave of bearishness might deprive the market of the recent gains due to the strong bullish current. The market might face further losses as the negative trend continues.
The bankruptcy of crypto companies has also affected their proponents. One is Mark Cuban, who is facing a class action lawsuit for promoting Voyager Digital. He has remained one of the most vocal proponents of cryptocurrencies. He even went as far as accepting crypto payments for his basketball team Dallas Mavericks.
The crypto foray from Cuban has offended the investors who faced losses as the result of the bankruptcy of Voyager Digital. According to available information, Cuban is facing a class action lawsuit in a district court in Florida. The filing has claimed that Mark Cuban has aided the company in defrauding the customers. The filing also quotes Cuban’s comments about the company, asking the investors for investments.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC unable to retain gains
Though Bitcoin has faced bearishness, it stands a chance to cross $25K. According to analysts, upside affinity for Bitcoin is likely to continue. Though it might face retracement for a while, it has chances to move ahead. The uncertainty for Bitcoin has continued for a few weeks.
The latest data for Bitcoin shows that it has remained recessive. If we look at the 24-hour data for Bitcoin, it has shed 1.59% over the last 24 hours. The weekly data shows a gain of 4.04%.
The change in the performance of Bitcoin has resulted in the change of its price value to the $23,925.89 range. If we compare the market cap value for Bitcoin, it is estimated to be $457,442,344,447. The 24-hour trading volume of Bitcoin is about $35,274,969,876.
ETH yet bullish
Ethereum is expected to reap the benefits of the much-anticipated merge. The question before the investors is whether it will be able to cross $2K before the merge. Ethereum saw highs up to $4.2K before the recent recession.
Ethereum has also seen a regressive trend over the last few hours. The change has affected its 24-hour performance as it has reduced gains to 0.79%. The weekly data shows an addition of 13.56%.
The price value for ETH is in the $1,884.90 range. If we compare the market cap value for it, it is estimated to be $229,822,156,464. The 24-hour trading volume of it is about $21,831,967,567.
LTC facing downtrend
Litecoin has also faced a downtrend as it has shed a considerable amount. The latest data shows a loss of 0.22% over the last 24 hours. The weekly data shows an addition of 1.36%. The price value for Litecoin is in the $61.72 range.
The market cap value for LTC is estimated to be $4,377,491,236. The 24-hour trading volume for this coin is about $463,227,032. The same amount in its native currency is about 7,505,183 LTC.
LINK losing momentum
Chainlink couldn’t retain the momentum amidst the ongoing bearishness. The change has resulted in a loss of 1.76% over the last 24 hours. The seven-day data shows a gain of 39.17%. The price value for LINK is in the $8.97 range.
The market cap value for Chainlink is estimated to be $4,200,577,163. The 24-hour trading volume of this coin is about $513,470,434. The circulating supply of this coin is about 470,099,970 LINK.
Final Thoughts
The global crypto market has seen a change in its pace as bearishness dominates. The change in performance has affected the overall performance of various coins, including Bitcoin, Ethereum, etc. As the losses increased, there has been a trend for reduced investments. The change has affected the global market cap value, which saw an increase recently. It is currently estimated to be $1.14 trillion.
