The global crypto market has seen a negative trend over the last day. The performance of Bitcoin, Ethereum, and others shows that there has been a decline in their gains. As the market continues to bearish, the influx of capital has also lowered. The negative changes prove to be a discouraging indicator for investors, creating further problems for the market. There is a hope that the market will soon revive its value though it continues to fluctuate.
CZ has reassured Binance retail customers in a personal email. The personal email aims at assuaging the concerns of retail customers and brightening the view of the future. There have been fears regarding the increase in withdrawals from Binance, creating chaos. Binance has been successful in facing this FUD campaign, dispelling customers’ fears, but a lot needs to be done yet. In the most recent step, CZ addressed the management of customer wallets and funds between Binance and retail customers.
In recent reports from media outlets, the email reportedly says that Binance keeps accounts separate and conducts a daily reconciliation of all crypto assets that are held by Binance on behalf of its customers. With this email, it has become clear that Binance has taken the FUD campaign and its ramifications seriously, and the company is now taking solid steps.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC turns red
Economic frailty could be the reason that Bitcoin soon gets a significant new role in global trade. The aggressive rate hikes have affected the global markets considerably. As a consequence of this change, many countries might go for embracing Bitcoin, seeking an alternative.
The recent changes for Bitcoin show a negative trend as it couldn’t regain momentum. The latest data shows that it has shed 0.20% over the last 24 hours. The seven-day data shows that it has added 0.95%.
The price value of BTC is currently in the $16,840.24 range. The market cap value of Bitcoin is estimated to be $324,037,383,423. The 24-hour trading volume of Bitcoin is about $14,786,585,717.
ETH in losses
Ethereum has remained stalled at $1.2K despite its attempts to revive value. Bears still have the upper hand, and that has brought a stalling impact on its price. According to experts, it is still closely mirroring the BTC price.
The performance of Ethereum has also seen a negative trend. The latest data shows that it has shed 0.56% in a day. The weekly data for this coin shows that it has added 3.72%.
The price value of ETH is currently in the $1,218.15 range. The market cap value of this coin is estimated to be $149,069,873,051. The 24-hour trading volume of this coin is about $4,641,026,616.
XRP stays bullish
XRP has been moving in a different direction as it remained bullish. The latest data shows that it has added 1.15% in a day. The seven-day data shows that it has shed 0.05%. The price value of XRP is currently in the $0.353 range.
The market cap value of XRP is estimated to be $17,770,214,349. The 24-hour trading volume of this coin is about $530,172,582. The same amount in its native currency is about 1,502,284,736 XRP.
ADA turns regressive
Cardano has also been in a regressive mood due to the efflux of capital. The latest data shows that it has shed 0.36% in a day. The weekly performance shows that it has shed 0.91%. The price value of ADA is currently in the $0.2597 range.
The market cap value of Cardano is estimated to be $8,957,393,882. The 24-hour trading volume of this coin is about $142,956,979. The circulating supply of the same coin is about 34,497,174,898 ADA.
Final Thoughts
The global crypto market has seen a negative trend over recent hours. The performance of Bitcoin, Ethereum, and others shows negative changes. As the market continues to face problems, there is a chance that the market will lower its value further. The lowered influx of capital has had considerable impacts on the influx of capital. The global market cap value is estimated to be $811.41 billion.
