The changes in the global crypto market have continued though the bullishness continues. The latest data for Bitcoin and other coins shows that there have been fluctuations, but the market hasn’t turned bearish. It has retained the bullish wave and is likely to continue this way. The ongoing bullish current has helped the market make up for the recent losses but hasn’t pushed the market to new gains.
China had recently declared all cryptocurrencies illegal in its area of jurisdiction. The recent change came from a court decision that declared illegal salary disbursements in the form of stablecoins. This decision has closed all doors to the possibility of using stablecoins in China. The mentioned Chinese ban has also had an impact on the global market.
Web3 games have continued to prosper, and some new names will add to the list. Animoca, WeMade, and Samsung Next are going to support Web3 studio for the development of open-source games. It will develop games based on Libplanet blockchain technology.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC unable to reach $21K
Bitcoin has continued to see state recognition as two states, i.e., El Salvador and CAR, have already made it the legal tender. According to Prince of Serbia, Philip Karadjordjevic said that an Arab monarchy would likely adopt Bitcoin soon as it is compatible with Sharia Law.
The latest data for Bitcoin shows that it has added 1.73% over the last day. If we compare the data for the last seven days, Bitcoin has added 6.92%. The price value of Bitcoin has remained stuck in the specific range of $21K.
The price value for Bitcoin is in the $20,434.01 range. If we look at the market cap value for Bitcoin, it is estimated to be $390,032,620,762. The 24-hour trading volume of the same coin is about $21,765,637,666.
BNB sees a halt in gains
Binance US has hired former PayPal executive Jasmine Lee for its post of Chief Financial Officer. The decision has been taken to prepare for the IPO in the coming years. Binance has made several structural changes to tackle its challenges due to the turbulent market.
The latest data for BNB shows that it has added 0.36% over the last day. The comparative data for the last seven days shows that it has added 13.48%. The price value of Binance has also fluctuated as the market kept changing.
The current price value for BNB is in the $237.22 range. If we take a peek at the market cap value for this coin, it is estimated to be $38,732,900,755. The 24-hour trading volume of this coin is about $1,008,938,640.
FTT growing without impediments
FTX Token has also been moving without impediments, adding 4.83% over the last day. These changes have brought gains of 13.45% over the last seven days. As the market has continued to be bullish, it has led the price value for this coin to the $26.74 range.
If we look at the market cap value for FTT, it has reached $3,620,078,981. The 24-hour trading volume of the same coin is about $95,977,691. The same amount in its native currency is about 3,588,441 FTT.
XLM continues to fluctuate
The value of Stellar has faced fluctuations as its market remained unstable. The latest data shows that it has added 1.72% over the last day. If we compare the performance for the last seven days, it has added 4.68%. The fluctuations show that Stellar’s price has reached the $0.1107 range.
If we look at the market cap value for XLM, it is estimated to be $2,774,356,784. The 24-hour trading volume of the same coin is about $121,300,266. The circulating supply for the same coin is about 25,053,627,730 XLM.
The global crypto market has remained bullish but could not cross the current threshold. The latest data for Bitcoin and other coins shows they have remained stuck in the previous price range. If we peek at the global market cap value, it is estimated to be $923.53 billion, seeing no significant improvement.