The global crypto market has seen another wave of negative changes recently. The latest data shows that Bitcoin, Binance Coin, and others have seen a regressive pattern. As these changes continued, the value of the market dropped significantly. The last few days have been difficult for the market as it made several attempts to recover value. The bearish situation has persisted, despite an increase in the influx of capital from the investors. If the current situation persists, the market will see a continued reduction in value.
Southeast Asia’s largest bank DBS has launched self-directed crypto trading amid institutional demand. The said feature has been launched for users via its app. As a result of the availability of this feature, more customers will be able to access the bank’s digital asset exchange and trade cryptocurrencies. The available cryptocurrencies include Bitcoin and Ethereum, the two major names in the market.
Other cryptocurrencies that can be traded include Bitcoin Cash and XRP. Previously, the exchange offered services to corporate and institutional investors, family offices, and the bank’s private wealth management clients. According to the statement issued by the bank, estimated 100,000 investors in Singapore meet their criteria and are eligible for the services offered by DBS digital assets ecosystem.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC in gains
Bitcoin has seen its worst weekly close since 2020 as BTC price closes at $19K. Though there have been gains in the previous week, there is no change, as Bitcoin stands at the same place it was two years back. The devastating changes have affected it more than any other coin in the market.
The recent changes for Bitcoin show a continuation of the negative trend. The latest data shows it has added 0.23% over the last 24 hours. In comparison, the weekly data shows a loss of 4.02%.
The price value for BTC has also fluctuated as it is currently in the $19,114.46 range. The market cap value for Bitcoin is estimated to be $366,237,562,420. The 24-hour trading volume of Bitcoin is about $22,908,706,361.
BNB loses momentum
New BNB chain DEX BabyDogeSwap is ready to be launched on 5 October. The testnet version was tried before it was going to be live on the mainnet. As the launch takes place, it will create new opportunities for the users.
The performance of the Binance Coin has shown a negative change as its value declined. The latest data shows that it has regressed 0.70% over the last day. In comparison, the weekly data shows a gain of 0.78%.
The price value for BNB is currently in the $278.20 range. The market cap value for this coin is estimated to be $44,883,632,974. The 24-hour trading volume of this coin is about $662,009,261.
TRX recessive
Tron has been in a recessive mood due to uncertainty in the market. The latest data shows it has shed 0.26% over the last 24 hours. The weekly data shows that it has regressed by 2.88%. If the current trend continues, its value will reduce further. While currently, its price value is in the $0.06026 range.
The market cap value for TRX is estimated to be $5,565,002,877. The 24-hour trading volume of this coin is about $260,286,405. The same amount in its native currency is about 4,319,560,973 TRX.
UNI bearish
The performance of Uniswap has shown no positive trend due to bearishness in the market. The latest data shows that it has regressed 0.76% over the last 24 hours. The weekly data shows a gain of 0.80%. The price value for UNI has remained in the $5.93 range.
The market cap value for Uniswap is estimated to be $4,517,807,396. The 24-hour trading volume of this coin is about $61,761,103. The circulating supply of this coin is about 762,209,327 UNI.
Final Thoughts
The global crypto market has seen a change in performance as it couldn’t retain gains. The recent changes for Bitcoin, Binance Coin, and others show a decline in value. The recessive trend has affected the recent gains for the market. If the current situation persists, the global market cap value might suffer further. The recent data shows that it is estimated to be $941.15 billion.
