The global crypto market has seen a change in performance as it couldn’t retain gains. The recent hours brought a considerable decline in the value of Bitcoin, Ethereum, and others. Though the metrics suggested hope the other days, the market has seen a negative change. The market might continue to see fluctuations as it continues to suffer from the after-effects of the FTX collapse. There are chances that the market turns bullish again, but it would need a consolidated effort.
A survey from Institutional Investor Custom Research Lab shows that most institutional investors plan to boost crypto allocation in the next three years. The prices of leading cryptocurrencies remain at depressed levels for a year. But the current situation isn’t preventing institutional investors from increasing or plans to increase their positions. 62% of those investors who have invested in crypto have boosted their allocations further over the last year.
While 58% of these plan on further enhancing their circle of investments in the coming three years. The survey was conducted between 21 September and 27 October. These stats suggest that long-term investors plan to expand their investments further, believing in the potential of the industry. 72% of the respondents said that crypto is there to stay and the turmoil is for the time being.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC stays recessive
PEGA Pool, a British Bitcoin mining company has plans to reduce BTC’s carbon mining footprint. The company plans to reduce its carbon footprint by one step at a time. The demand for eco-friendly mining has grown as the concerns about the impact on the environment have increased.
There has been a negative change in the Bitcoin market due to a bearish trend. The latest data shows that it has shed 2.30% over the last 24 hours. The weekly performance of Bitcoins shows an addition of 0.67%.
The price value of BTC is currently in the $16,134.55 range. The market cap value of Bitcoin is estimated to be $310,083,099,837. The 24-hour trading volume of Bitcoin is about $23,149,780,832.
ETH continues to lower value
Ethereum has faced difficulties, but it has seen some major achievements over recent months. This week Ethereum team announced that the fees on the network will be soon reduced by as much as 100x.
The performance of Ethereum also shows a bearish trend as it couldn’t retain its gains. The latest data shows that it has shed 3.90% over the last day. The weekly data shows that it has added 4.27%.
The price value of ETH is currently in the $1,166.07 range. The market cap value of this coin is estimated to be $142,696,635,137. The 24-hour trading volume of the same coin is about $5,305,832,767.
SOL stays red
There has been a decline in the value of Solana due to the negative trend. The latest data shows that it has shed 8.08% over the last 24 hours. The weekly performance of this coin shows that it has added 11.26%. The price value of SOL is currently in the $13.05 range.
The market cap value of Solana is estimated to be $4,735,867,062. The 24-hour trading volume of this coin is about $308,316,682. The same amount in its native currency is about 23,735,564 SOL.
ATOM in losses
The performance of Cosmos has been no different from the rest of the market. The latest data shows that it has shed 6.23% over the last day. The weekly performance shows that it has added 6.06%. The price value of ATOM is currently in the $9.53 range.
The market cap value of Cosmos is estimated to be $2,729,553,804. The 24-hour trading volume of this coin is about $83,074,724. The circulating supply of the same coin is about 286,370,297 ATOM.
Final Thoughts
The global crypto market has seen a negative change in performance over the last day. The performance of Bitcoin, Ethereum, and others has been affected by the bearish wave. As the market saw a recessive change, there has been a decline in its value. The global market cap value has also been affected. The latest data shows that it is estimated to be $815.25 billion.
