The changes in the global crypto market have remained negative as the market continues to change. It has affected the performance of Bitcoin, Binance Coin, and other major names. The result of these losses is a speedy increase in market depreciation. The investors have seen its impacts over the past few months. If the current bearish wave continues like this, it will affect the market in the longer run.
The CEOs of big crypto companies are aware of the changes in the market. There have been some bailouts from some big names while others have refused to do so. FTX CEO said that some smaller exchanges are too far gone in, and they would find no way back. They came as the result of the market boom and found no place as the situation began to change.
There are little chances of these exchanges being saved from the heavy losses. As the bearishness continues, they might also lose their capital, impacting their investors.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and other altcoins.
BTC stays bearish
Bitcoin is again back to losses as the situation hasn’t stabilized. Instead, the losses for Bitcoin and various other coins in the market increased over the last day. CoinFlex has alleged Bitcoin investor Roger Ver of defaulting. According to the accusations, Roger Ver has defaulted on $47 million.
The latest data for Bitcoin shows that it has shed 1.22% over the last 24 hours. In comparison, the losses for the last seven days are about 1.12%. Though the weekly losses are not that big, it might face increased losses.
The price value for Bitcoin is in the $20,060.21 range. If we compare the market cap value for Bitcoin, it is estimated to be $382,759,064,464. The 24-hour trading volume of Bitcoin is about $22,920,641,713.
BNB sees recession
Binance’s CEO has continued to stay confident about the company. Also, he said that as the depression furthers, crypto companies will have more liquidations. He has continued to predict losses for other companies, as Terra collapsed recently due to sudden market changes.
The latest data for Binance Coin shows that it has shed 5.98% over the last day. In comparison, the performance for the last seven days shows an additional 0.64%. The changing pattern might affect its value in the coming hours.
The price value for BNB is in the $218.84 range. If we compare the market cap value, it is estimated to be $35,731,926,078. The 24-hour trading volume of this coin is about $1,103,568,072.
MATIC wavering amid losses
Polygon has also faced difficulties as the market has wavered. The latest data shows that it has shed 3.49% over the last 24 hours. In comparison, the performance for the last seven days shows an additional 8.12%. If the market continues to bearish, MATIC might continue to lower in value.
The price value for this coin is about $0.4947. The market cap value for this coin is about $3,977,288,033. The 24-hour trading volume of the same coin is about $866,930,257. The same amount in its native currency is about 1,745,244,616 MATIC.
UNI turns bullish
Uniswap has shown bullishness over the last few hours. It has added 0.35% over the last day, while the weekly losses are about 1.99%. It would work on the recovery of losses that it has suffered. The price value for this coin is about $5.10 and might improve if the gains continue.
The market cap value for UNI is estimated to be $3,742,296,971. The 24-hour trading volume of this coin is about $149,620,984. The circulating supply of this coin remained at 734,135,051 UNI.
The global crypto market has continued to face problems as the bearishness has lasted for a prolonged while. The changes have resulted in the loss of a considerable value while various companies have gone for layoffs. The value of Bitcoin and other major coins has almost halved due to these losses. The global market cap value is estimated to be $897.07 billion.