The performance of the global crypto market has continued to show a bearish trend. The recent data shows that Bitcoin, Ethereum, and others have remained in a losing mood. As the losses for various tokens continue, the market has emaciated. There has been no change in the market’s value since the Fed’s previous statement about the continuation of a hike in interest rates. Fed rates have been one of the main reasons for the negative trend in the global crypto market.
Poloniex and Bittrex have joined Tether’s war against Roche Freedman. The legal counsel representing the aforementioned firms has asked for the termination of Roche Freedman’s firm from the lawsuit because of the recent allegations and the following controversy. Kyle Roche has withdrawn from various lawsuits as he was seen in a viral video with the principal developers of Ava Labs.
The counsel of Bittrex and Poloniex has filed a complaint in the US District Court for the Southern District of New York. A letter from the mentioned counsel says that Mr. Roche’s recent statements raise concerns about their intent. The letter also accuses Mr. Roche of misusing confidential material for ill purposes.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC lingering at $19K
August was rough for Bitcoin as it saw multiple fluctuations. The changes in the market brought back hard days for Bitcoin, which struggled to regain its value. Analysts suggest that September’s gains may be nothing more than a façade for it. So, the users might get ready for a bumpy journey.
The recent changes suggest fluctuations for Bitcoin. The latest data shows it has shed 0.66% over the last 24 hours. In comparison, the data for the last seven days shows a loss of 1.30%.
The price value for Bitcoin is currently in the $19,814.26 range. The market cap value for Bitcoin is estimated to be $379,258,504,829. The 24-hour trading volume of Bitcoin is about $23,476,451,323.
ETH again in losses
Vitalik Buterin has defended the crypto price crashes in a recent interview. He said in response to a question regarding price fall that it is actually good for the market. He said that crashes like Terra (LUNA) had brought benefits to the market as other companies became alert to possible pitfalls.
The performance of Ethereum has also shown lag as its value continued to lower. The latest data shows that it has shed 0.67% over the last 24 hours. The weekly data shows that the gains for it are about 3.67%.
The price value for ETH has shown a decline as it is currently in the $1,556.67 range. The market cap value for this coin is about $190,273,489,856. The 24-hour trading volume of this coin is about $9,101,673,508.
LTC bearish
Litecoin has also remained bearish due to the unfavorable market. The recent changes show that it has receded 1.88% over the last 24 hours. The gains for the last seven days are about 12.93%. The price value for LTC is currently about $60.12.
The market cap value for Litecoin is estimated to be $4,274,205,148. The 24-hour trading volume of the same coin is about $517,460,595. The same amount in its native currency is about 8,606,532 LTC.
LINK unable to regain value
The value of Chainlink has continued to linger at lows due to bearishness. The latest data for this token shows that it has shed 0.40% over the last 24 hours. The data for the past seven days shows a gain of 5.29%. The price value for LINK is currently in the $6.88 range.
The market cap value for Chainlink is estimated to be $3,384,557,188. The 24-hour trading volume of this token is about $209,954,987. The circulating supply of the same token is about 491,599,970 LINK.
Final Thoughts
The global crypto market has seen a decline in value due to continuing losses. The recent data for the market shows a continuation of losses for Bitcoin, Ethereum, and others. As the negative trend continues, the market has depreciated in value. The global market value has also declined. The recent data shows that it is currently estimated to be $976.87 billion.
