The global crypto market hasn’t been able to get rid of the bearish current. It has continued to affect Bitcoin, Ethereum, and others as the losses continue. There have been negative changes in the market as the sell-offs increased. The value of various coins is regressive, and it has brought down their price value. As this trend continues, the investors have felt pessimistic about the market. Thus, the downward journey for the market continues with wavering hopes.
The details of the US Treasury’s policy draft about cryptocurrencies have begun to seep into the media. According to sources, it has been recommended that CBDCs for the well-being of commercial banks. It has detailedly studied the impacts of CBDCs on commercial banks. According to the study, CBDCs help reduce stability risks and give policymakers detailed information.
Three Arrows Capital has also been facing troubles recently as its value dropped. The dramatic turn came when its CEO and other officials couldn’t be located. Their offices were found vacant no details were available about their whereabouts. Now, their assets have been frozen in an emergency hearing by a bankruptcy judge.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC inches lower
The rate of losses for Bitcoin continues as it hasn’t changed its losses. Bitcoin daily exchange net flows show that sell-offs haven’t changed. The data for the last month shows that losses have remained dominant while the dumping policy from some investors has continued.
The latest data for Bitcoin shows that it has shed 2.31% over the last day. The changes for the weekly performance continue as well as it has shed 2.34%. The negative changes have continued to affect its performance.
The price value for Bitcoin is in the $19,428.97 range. The market cap value for Bitcoin is estimated to be $370,944,038,708. The 24-hour trading volume of the same coin is about $25,952,371,527.
ETH continues regressive
Ethereum has been waiting for the merge as it has made revolutionary changes to its system. It is almost complete, but some critics have mocked the Proof of Stake system for this blockchain system. Vitalik Buterin responded to these attacks in a spicy manner, defending Ethereum.
Ethereum has also been facing a regressive current as it has lost 4.10% over the last day. The changes for the same coin over the last seven days are about 6.67%. These changes have led to a reduction in its price value.
The current price value for ETH is in the $1,046.42 range, while some analysts predict it to be lower than $1K. The market cap value for this coin is estimated to be $127,164,020,828. The 24-hour trading volume of the same coin is about $12,709,841,248.
XRP looking for stability
XRP has also faced a steep decline in value due to market bearishness. Its latest data shows that the losses have reached 0.97% over the last 24 hours. The seven-day performance shows a loss of 3.20%. The increasing pace of losses has lowered its price value to $0.312.
The market cap value for XRP is estimated to be $15,084,799,810. The 24-hour trading volume of the same coin is about $973,340,671. The same amount in its native currency is about 3,119,319,259 XRP.
SOL still in lows
Solana has also been in lows due to market bearishness. The latest data shows that its value declined by 2.56% over the last day. The weekly performance shows furthering losses as it has lost 5.79%. These negative changes have brought its price value to the $32.91 range.
If we compare the market cap value for SOL, it is estimated to be $11,353,291,056. The 24-hour trading volume of this coin is about $905,677,819. The circulating supply of this coin is about 345,575,565 SOL.
Final Thoughts
The global crypto market has remained recessive and hasn’t shown any improvement. The increased losses have led to lowered value for Bitcoin, Ethereum, and others. As the losses continue, there has been a trend of decreased investments. The global market cap value has also suffered, estimated to be $867.37 billion. Over the recent few days, there has been a change of more than $100 billion.
