- The global crypto market, again in misery, suffers a dip of 1.67% in the previous 24 hours.
- Bitcoin continues to depreciate, instead of gaining momentum, loses 1.98%.
- Binance Coin, in no different situation, depreciates 3.96%.
- Shiba Inu loses 3.33%, while Uniswap adds 0.34%.
There is no change in the market’s mood, though the new year has begun. The market’s current situation is bullish, and it has come down to $2.21T. The trend in the market shows that investors trust in thinning, which results in the loss of capital. The current situation resembles that of December as there has been no improvement seen for the last few days. There are few currencies in the market which are going in the positive direction, and it gives the investors hope that somehow the bearish ones will turn bullish.
Though the situation is difficult for the crypto market, Russia has announced that they won’t ban cryptocurrency. The mentioned announcement has come as a new hope in a multipolar world where China has shown much animosity to this emerging market. There were fears that other countries might also add to the list, but Russia’s assurance might put a halt to it.
Swiss insurance company AXA has announced that they will be accepting bitcoin. They are the first of their kind to accept cryptocurrency for their services. This news comes as a hope for an industry’s difficult situations. The no-change situation of bitcoin has surprised the investors and market experts, as they expected to see it rise. It is a strange situation contrasting with the previous years. The situation for bitcoin is currently uncertain, and it might continue further.
BTC joins the volatile group again
Bitcoin has stayed volatile since December, and it has hardly seen good days since then. The only difference that it made was reaching $56K, which many saw as its resurgence. But there is no sure thing about the market, and the same happened in Bitcoin. Bitcoin came this high and then joined back the lows from it.
The current situation for bitcoin is no different as it is witnessing hard times. The current bitcoin price is about $46,150.83, and it witnessed a loss of 1.86% in the previous 24 hours. The change in the value of bitcoin for the past seven days is no different as it went through 7.37% depreciation. The current market cap for this coin is estimated to be $873,139,092,888. The market cap will improve if the bearishness changes and investors pour their money into bitcoin.
The trading volume for bitcoin during the last 24 hours is estimated to be $32,310,794,342.
BNB practicing new dips
The current condition of the Binance coin is no different from bitcoin and other currencies. The start of the year hasn’t brought Binance coin anything substantial. Experts see the mentioned coin in a difficult situation as it is witnessing new dips.
The current price for the Binance coin has taken a dip after a loss of 3.96% during the last 24 hours. As the price has lowered to $505.39, the losses for the past seven days have remained 8.22% which are comparatively bigger than the other top-2 coins. As the losses continue, the change in the market cap of Binance coin is also evident, which is about $84,433,512,161.
The trading volume has also been affected due to decreased investments, and it is estimated to be $2,151,499,931. The chart shows that Binance has been through a suffering trajectory.
SHIB couldn’t revive from red
Shiba Inu has been the coin making significant gains during the previous recessive days. In contrast, it has begun to take dips due to a change in the market mood, as it lost 3.33% in the last 24 hours. While in comparison, it has shed an amount of 11.59% in the previous seven days.
The change in situation has proved difficult for Shiba Inu because it seems as if its gains are reversing. The current market cap for Shiba Inu is estimated to be $17,939,590,037. The current price for this coin has also decreased and is estimated to be $0.00003267.
As the market is moving in a bearish situation, the trading volume for Shiba Inu has been affected as well and is estimated to be $761,144,861.
UNI in a bullish mood, as the lone survivor
Uniswap is bullish and has continued to gain in a difficult market. The gains for this token during the last 24 hours are 0.34% compared to the seven-day loss of 4.33%. The current price for Uniswap has improved and is estimated to be $18.48.
The current trading volume for the mentioned coin is about $408,265,932. At the same time, the current market cap for this coin is about $11,589,399,629.
Though the start of the new year hasn’t brought any improvement in the market, investors are still hopeful about it. The situation seems to be deadlocked due to the current virus situation in the EU and US. Inflation has affected the markets, and investors fear for their investments. For this reason, they have withdrawn them to ensure that they don’t suffer losses.
As evident from the case of major coins in the market, people are worried about the loss that they might face. So, they think the best solution is the withdrawal of their money. There is one solution to change this situation: pouring investor money, revitalizing the market, and adding to investor trust.