The performance of the global crypto market has continued to show lows as there has been little improvement. The performance of the big coins like Bitcoin, Ethereum, etc., continues to show a regressive pattern. Though there were speculations about their improvement, they haven’t yet turned bullish. The market might have to wait to gain momentum as the losses are yet in full bloom. It is yet to be seen how long this bearishness will continue.
The attacks on leading blockchains have continued, affecting investor trust. The latest on the list is Uniswap which saw a grave attack that caused considerable losses. Hackers attacked Uniswap via a phishing attack and took their bounty in the form of Ethereum. They gained access to Ethereum LPs through a malicious airdrop contact.
This enabled them to steal more than 7,500 Ethereum, which roughly equals $8 million. There is no clear information about the attackers, and law-enforcement agencies will work on tracking them. The little information about the previous attacks has made investors skeptical of the security of the blockchain systems.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC continues to lower
Bitcoin has continued to bear the brunt of being the leading coin in the market. According to the available updates, the US market has hit a seven-day low. US has warned about highly elevated CPI data. The impacts of inflation continue for this and other coins around the globe.
The latest data for Bitcoin shows that it has receded 3.25% over the last 24 hours. The seven-day performance also shows recession, reducing losses to 1.27%. Bitcoin needs to add gains to keep its value consolidated.
The price value for Bitcoin is in the $19,794.67 range. The market cap value for Bitcoin is also recessive, estimated to be $377,549,048,497. The 24-hour trading volume of Bitcoin is about $27,338,598,658.
ETH facing severe bearishness
BTC and ETH liquidation continue amid the bearish market. According to the available updates, more than 62,000 traders have liquidated these two coins. As the bearishness continues, both these coins are expected to lower the price further. The bottom for Ethereum might be lower than $1K.
Ethereum has also continued to lower its value as the losses for the last day are about 6.60%. The weekly performance also shows manifest bearishness as it has shed 4.11%. These changes have deprived it of the recent gains.
The price value of ETH is about $1,067.13 and might lower further. The market cap value for the same coin is estimated to be $129,596,032,509. The 24-hour trading volume of this coin is about $12,546,260,984.
VET unable to add gains
VeChain has also been facing problems as it has shed 3.85% over the last 24 hours. The last seven days were no good for this coin as it has receded 1.51%. These changes affected its price value which was brought to $0.02194.
The market cap value for VET is estimated to be $1,588,429,456. The 24-hour trading volume of this coin is about $78,558,942. The same amount in its native currency is about 3,586,183,155 VET.
APE facing stark bearishness
ApeCoin has continued to lose value due to bearishness. The latest data for this coin shows that it has shed 5.77% during the last 24 hours. The last week wasn’t good for it as it has shed 8.42%. These changes could translate to a loss of value of about $4.30.
As the market remains recessive, the market cap value for this coin is about $1,288,259,343. The 24-hour trading volume of this coin is estimated to be $187,035,403. The circulating supply of this coin remained 299,531,250 APE.
Final Thoughts
The global crypto market has continued to shed value as the influx remains too low. These changes have forced various coins into a recession, lowering the gains. The investors are hesitant about further investments because of the increased losses. The global market cap value has also lowered and is currently estimated to be $881.22 billion.
