There has been no positive change in the performance of the global crypto market. The recent changes show that the value of Bitcoin, Binance Coin, and others has continued to lag. As the market saw a negative trend, it couldn’t retain its gains. Various coins were retesting their resistance levels and have continued to lower in value. If the current situation continues, the market will likely lose further value. The negative trend seems likely to continue as the market has rapidly declined.
EU has banned crypto payments from Russia in a new sanctions package. EU has continued to sanction Russia because of its aggression in Ukraine. Previously European Union had set a limit on transactions from Russia, but this time it has slashed the limit. As a result of the new changes, the cap has been changed to nil.
The new sanctions resulted from the referenda held in Ukraine by Russian authorities. As a result of the new sanctions, restrictions on crypto payments from Russian accounts, wallets, and holding services. The current sanctions are the eighth package from the EU, trying to prevent Russia from continuing its aggression. The new sanctions will also ban imports amounting to 7 billion Euros.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC lowers to $19.6K
A Bitcoin mining site is being used in the Netherlands to warm up a warehouse. Solar Bazooka Bitcoin mine is being used to fulfill energy needs amidst the energy crisis. The heat from this mining farm will be used to replace natural gas as Europe faces a scarcity of gas due to sanctions on Russia.
The recent changes for Bitcoin show a continued trend of a negative pattern. The latest data shows it has shed 1.78% over the last 24 hours. The seven-day data shows that it has added 0.63%.
The price value for BTC is currently in the $19,651.21 range. The market cap value for Bitcoin is estimated to be $376,332,247,760. The 24-hour trading volume of this coin is about $30,765,513,919.
Kazakhstan has granted a permanent license to Binance to offer digital asset services. The AIFC Financial Services Authority in Kazakhstan granted Binance a permanent license to a digital asset platform. On the other hand, Binance has continued to decline in value because of the continuing crypto winter.
The performance of Binance Coin has also continued to show a decline. The latest data shows that it has shed 3.51% over the last day. The seven-day data shows that it has receded by 0.38%.
The price value for BNB has receded to the $283.30 range. The market cap value for this coin is estimated to be $45,657,810,939. The 24-hour trading volume of this coin is about $1,245,100,452.
ADA in lows
The value of Cardano has also declined due to the continuation of losses. The latest data shows it has shed 1.00% over the last day. The weekly data shows that it has shed 2.15% as there is no positive change. The price value for ADA is currently in the $0.4244 range.
The market cap value for Cardano is estimated to be $14,529,798,795. The 24-hour trading volume of this coin is about $419,312,927. The same amount in its native currency is about 988,882,072 ADA.
There has been no positive addition to the value of Solana due to the market bearishness. The latest data shows it has shed 2.16% over the last 24 hours. The seven-day data shows that it has shed 3.65%. The price value for SOL has changed to the $32.93 range.
The market cap value for Solana is estimated to be $11,712,282,058. The 24-hour trading volume of this coin is about $731,987,798. The circulating supply of this coin is about 355,724,954 SOL.
The global crypto market has seen a change in performance as the negative trend continues. The value of Bitcoin, Binance Coin, and others continued to decline. As the market has lowered gains, the global market cap value also lowered. The latest data shows that it is estimated to be $946.40 billion.