The global crypto market hasn’t been able to progress. The lack of enough push from the investors has made it languish at lows. The recent data for Bitcoin, Ethereum, and others show a dominant trend for losses. The market recently turned bullish but couldn’t bring investors the desired gains. As the negative changes continue, the market might face hardships. The continuation of the bearish trend shows that the market might have yet to face hardships.
Coinbase has faced another lawsuit for crashing during the market volatility. The latest lawsuit alleges that it couldn’t uphold access to accounts when it was needed the most. The lawsuit has been filed by one of its users, who alleges its failure to uphold its promises. The plaintiff, George Kattula, has alleged that the exchange doesn’t employ standard practices to secure its consumers’ accounts.
The filing says that the exchange unreasonably locked out the consumers from accounts and funds. In contrast to the usual practice in the market, the exchange couldn’t retain its services. The lawsuit also alleges that the exchange couldn’t safeguard customer assets and complaints in a timely manner. Thus, the plaintiff and other customers couldn’t control their crypto assets and utilize them according to their will.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC uncertain
Bitcoin outflows have affected the market value of Bitcoin. According to available updates, the institutional investor sentiment has remained negative. Thus, Bitcoin couldn’t reach its targets, also affecting the recent gains of the investors.
The recent data for Bitcoin shows that it continues to recede in value. The recent updates tell of a loss of 0.11% for Bitcoin over the last 24 hours. The weekly data shows that its losses amount to 11.09%.
The changes in the market have brought Bitcoin’s price to the $21,348.86 range. The market cap value for BTC is estimated to be $409,396,587,835. The 24-hour trading volume of Bitcoin is about $31,660,736,401.
ETH stuck at $1.6K
Ethereum has continued to face difficulties due to sanctions on Tornado Cash. Various renowned names have condemned the sanctions on the said company. One of these is US senator Tom Emmer who sent a letter to Secretary of the Treasury Janet Yellen condemning the sanctions on Tornado Cash.
The value of Ethereum has also shown a regressive trend. The latest data shows that it has added 0.19% over the last 24 hours. The weekly data shows a loss of 13.77% for this coin.
The price value for ETH is currently estimated to be $1,632.45. The market cap value for this coin is estimated to be $200,166,546,955. The 24-hour trading volume of the same coin is about $18,155,090,102.
SOL in losses
Solana has also remained in losses due to the bearish market. The latest data shows that it has receded 1.54% over the last day. The data for the last seven days shows a loss of 20.06% for this coin. The price value for SOL is in the $34.90 range.
The market cap value for Solana is currently estimated to be $12,249,453,612. The 24-hour trading volume of this coin is about $860,556,836. The same amount in its native currency is about 24,535,842 SOL.
AVAX adds slight gains
Avalanche has added little gains as the market remains favorable for it. The latest data shows that it has added 1.71% over the last 24 hours. The seven-day data shows that the losses are about 15.47%. The price value for AVAX is currently in the $23.20 range.
The market cap value for Avalanche is currently estimated to be $6,613,416,810. The 24-hour trading volume of this coin is about $430,733,024. The circulating supply of the same coin is about 285,024,498 AVAX.
Final Thoughts
The global crypto market has continued to low. Even though a bullish wave attempt to reinvigorate it, there is no change. The result has been a continuous decline value of Bitcoin, Ethereum, and others. The change in the market has also affected the global market cap value. The mentioned value is currently estimated to be $1.03 trillion.
