- The global market cap witnessed a loss of 0.64% in the last 24 hours.
- Bitcoin’s hard times continue, losses 0.40%.
- Ethereum and Binance Coin’s misfortunes haven’t come to an end, losing 0.40% and 2.65%, respectively.
- Shiba Inu makes significant gains, adding 1.18% in turbulent times.
The miserable days for the global crypto market are not over yet. There were predictions of hard times ahead, which proved in December, which made the rank-and-file crypto market suffer. There has been no difference in the losses suffered by currencies keeping in view their strength. These losses extend from giants like Bitcoin and Ethereum to Dogecoin, Shiba Inu, and other not famous names.
The rise in the value of capital invested in NFTS has crossed $200 million, major support to the crypto industry during turbulent times. It seems a smaller amount for the gigantic industry, but it will help revitalize investor trust in the market. The previous days clearly show that the deteriorating situation has also affected the investor trust.
The process for drafting the crypto bill is still in the development process in India. A hearing at the parliamentary panel resulted in raised questions over crypto and dark-web use for criminal purposes. Binance Singapore had plans for the crypto license but have changed their mind. It will end its services there on February 13, 2022. It had applied but has withdrawn it for unknown reasons.
BTC still on the roller-coaster, witnesses ups, and downs
Though there are doubts over the price of bitcoin in the upcoming days, there is a positive development. Its total mined coins have reached 90% of the available amount.
It means that the fears of a crash, further liquidation, and government regulations have not daunted the investors. They know that bitcoin will continue to rule the crypto market for long without facing any significant rivalry. This idea hasn’t led to its liquidation at the level witnessed in the case of other currencies. Currently, the price and trust for bitcoin are at the level where it doesn’t have any fears. The future can’t be predicted exactly, but bitcoin shows positive signs for the times ahead.
The current bitcoin price is recorded to be in the $48,818 range, which has remained steady for the past 24 hours. The change in the price of bitcoin is estimated to be 0.40% which is less in comparison to other currencies. Its weekly performance is on the positive side of trajectory and has shown an improvement of 2.88%.
Its trading volume recorded for the last 24 hours is about $23,748,204,211. At the same time, its market cap is estimated to be $922,597,905,830. The stability in its value shows the growing investor trust and the resultant capital investment.
ETH and BNB still not sure if they can revitalize
The rise of Ethereum and Binance coin still seems away because of the recession in their values. Both of them were expected to rise before bitcoin as it happened previously, but still, they are lingering in the lows. There are hopes that they might rise because they have slowed the journey down to the steep side.
The current price for Ethereum is in the $4,011.55 range, while it has seen a decline of 0.40% in the last 24 hours. It is much better compared to the previous days and is expected to turn into a bullish trend. The seven-day development for Ethereum is positive, amounting to 1.17%, which is encouraging in the current situation.
The current market cap for this coin is about $476,253,686,682. Its trading volume recorded during the last twenty-four hours was $15,665,988,936. This amount can be converted to 3.905,216 ETH.
The performance that Binance coin has shown during the past few days has been satisfactory, and it is showing signs of improvement. Its current price is estimated to be $550.18. It has witnessed a liquidation of 2.65% during the last 24 hours, while it has added 1.35% in the last seven days.
Its current market cap is estimated to be $91,770,512,469. Its trading volume during the last 24 hours remained $1,435,983,604. This amount in Binance coins is 2,610,029 BNB.
SHIBA INU bullish after long turbulence
Shiba Inu has been amongst the hard-hit during the last recessive blow. It is currently ranking 13th on the list and has the current price in the $0.00003477 range. It has shown a growth of 1.81% in the last 24 hours, while the seven-day growth for this coin is estimated to be 3.88%.
Its current market cap is estimated to be $19,116,224,849. While the trading volume during the last 24 hours was $1,626,437,534. This amount in SHIB is 46,714,671,361,702. The recent developments show that it can add further gains to its bag and improve its position.
The recession in the value of the global market cap results from the recovering market that has suffered blows during the recent days. It was a turbulent time for all major coins, and they tried hard to stay in the market. This situation had the possibility of landing the lead coin, i.e., bitcoin, in a crashing situation of free fall, but fortunately, it steadied its speed.
The recent improvements show that the market will try to steady itself and stabilize the situation. As soon as the investor interest is regained, the market will see its boom. One of the major reasons the market is consistently recessive is the global changes taking place on the legislative and political levels. There are hopes that the situation will be better soon.