The global crypto market saw a change in the influx of capital recently. The recent performance of Bitcoin, Binance Coin, and others shows a decline in gains. As the market saw a decline in gains, there was a considerable decrease in the value of various coins. The market has continued to fluctuate for a while because of global political and economic instability. There have been various attempts to revive the market, but it is unlikely to happen if there is no stability on the political and economic side.
Hackers have made another strike on the crypto market as they stole $1 million from Bitcoin DeFi protocol Sovryn via iToken price manipulation. The hackers succeeded by discovering a vulnerability in the protocol and exploiting it later. Crypto has remained a lasting target for hackers because of the vulnerability issues.
Sovryn announced on the 4th of this month that a cyber attacker had breached their platform. As the hacker exploited the vulnerability, s/he was able to steal 44.93 RBTC and 211,045 USDT. The developers learned about the issue and put the system in maintenance mode. Thus, they were able to prevent the withdrawal of funds and saved half the amount.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC bullish
Even though the market has shown a bearish trend, there has been considerable growth for Bitcoin. Bitcoin’s hashrate has grown 3X since the Chinese ban, while its mining power has grown. The market capitalization of this coin is still attempting to surpass $1 trillion, but the mining power has shown promising results.
The recent changes for Bitcoin show slackness due to a reduced influx of capital. The latest data shows it added 0.25% over the last day. The weekly data for Bitcoin shows an addition of 3.36%.
The price value for Bitcoin is currently in the $20,148.16 range. The market cap value for Bitcoin is estimated to be $386,258,692,727. The 24-hour trading volume of BTC is about $36,169,845,325.
BNB stuck
Binance Labs has announced to invest in seven startups from the MVB accelerator platform. Binance Labs, the incubation and venture capital arm of Binance Exchange, has announced to invest in these startups to promote innovation and industry development.
The performance of Binance Coin has also shown a decline in gains. The latest data shows that it has added 0.95% in 24 hours. The weekly data shows that it has added 4.59%.
As the influx of capital has fluctuated, the price value for BNB has remained in the $294.76 range. The market cap value for this coin is estimated to be $47,492,120,574. The 24-hour trading volume of the same coin is about $647,253,925.
CRO fluctuating
The value of Cronos has also seen slight changes as it couldn’t see continued gains. The latest data shows that it has added 0.70% over the last 24 hours. The weekly data shows that it has added 0.16%. As the gains lowered, the price value for CRO reached the $0.1106 range.
The market cap value for CRO is estimated to be $2,784,797,604. The 24-hour trading volume of this coin is about $15,207,819. The same amount in its native currency is about 137,961,675 CRO.
LUNC in losses
The performance of Terra Classic has also shown a decline in value as it turned bearish. The latest data shows that it has shed 1.85%. The seven-day data for this coin shows an addition of 7.15%. The price value for LUNC is currently in the $0.0002959 range.
The market cap value for Terra Classic is estimated to be $1,822,363,968. The 24-hour trading volume of this coin is about $336,249,440. The circulating supply of this coin is about 6,151,072,613,161 LUNC.
Final Thoughts
The performance of the global crypto market has seen changes over the last day. The value of Bitcoin, Binance Coin, and others saw a decline due to the inability of the market to retain gains. The result of these changes is a decline in the global market cap value. The recent data shows that it is estimated to be $964.81 billion.
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