There has been no positive change in the global crypto market as the losses continue. The continuation of losses has brought a decrease in the value of Bitcoin, Ethereum, and others. The increased losses have also affected the investors, who have considerably reduced their gains. The change in the market pace has continued for a while as the downwards pull has continued. There is no surety about the market’s next move, but the losses might continue.
Binance has reopened fund withdrawals after a temporary closure. Binance had announced on 17 August that it had temporarily closed withdrawals for many networks. The reason cited for the suspension of withdrawals was a problem with a third-party tech partner. As the minor glitch has been resolved, the users’ withdrawal of funds has resumed.
Binance is one of the leading crypto exchanges, and the users were worried about the possible problems. The company’s management had ensured that there was no big problem and the investor funds were safe. The company had transferred funds to SAFU and ensured customer funds were not compromised.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC lowers to $23.4K
The Tornado Cash saga has created problems for many crypto companies. One of these is Bitcoin Lightning Network, which faces a regulatory risk due to the changing situation. According to policy advisor Patrick Hanson, Bitcoin Lightning Network stands a chance to face risks after the expanding sphere of sanctions.
The latest data shows that Bitcoin hasn’t been able to see enhancements. The latest data shows a loss of 2.48% over the last 24 hours. The weekly data shows the same pattern as it has shed 3.50%.
The price value for Bitcoin is in the $23,474.59 range. The market cap value for Bitcoin is estimated to be $448,936,812,093. The 24-hour trading volume of this coin is about $30,220,702,960.
ETH facing downward pull
Ethereum merge has brought various benefits for the users as well as big companies. According to a report by J P Morgan, the Ethereum merge will greatly benefit Coinbase. The most-anticipated update is expected to be complete on 15 September. Coinbase has been affected recently due to the bearish changes in the market.
Ethereum has also faced problems due to the bearish market. The latest data shows a loss of 2.54% over the last day. The seven-day data shows a loss of 1.54% for Ethereum.
The price value for ETH is in the $1,851.25 range. The market cap value for this coin is estimated to be $225,864,647,247. The 24-hour trading volume of this coin is about $20,189,315,447.
APE still bearish
ApeCoin has continued bearish as the market is unable to regain value. The latest data shows a loss of 2.62% over the last 24 hours. The weekly data shows a loss of 13.02% as the market remains recessive. The price value for APE is in the $6.19 range.
The market cap value for ApeCoin is estimated to be $1,899,930,041. The 24-hour trading volume of this coin is about $221,710,963. The same amount in its native currency is about 35,810,556 APE.
MANA facing losses
Decentraland has been no different from the rest of the tokens. The latest data shows a loss of 7.11% for this coin over 24 hours. The seven-day data shows that it has shed 9.87%. The price value for this coin is in the $0.9711 range.
The market cap value for MANA is estimated to be $1,798,896,010. The 24-hour trading volume of this coin is about $185,851,225. The circulating supply of this coin is about 1,852,422,597 MANA.
Final Thoughts
The global crypto market has continued to face problems due to dominant bearishness. The recent changes have brought considerable losses to various coins. These include Bitcoin, Ethereum, and others that have sustained losses. As the market has remained bearish, the global market cap value has also seen a decline. The recent data shows that it has reached $1.10 trillion, shedding $0.07 trillion in a few days.
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