The global crypto market hasn’t stabilized yet as it faces problems. The current situation for Bitcoin, Ethereum, and others shows that the market might have to go through further fluctuations. The changes are suggestive of the potent turbulence in the market, which is the result of the grave problems it faces. If the situation persists, the problems regarding investment and coin prices will continue, plaguing the market.
The problems for the global crypto market continue from multiple sides. One of these is possible hacking attempts which happened multiple times over the past few months. This has been one of the major reasons that trust in crypto has eroded. The changes resulted in decreased investments due to security issues. Celsius has been one of the major names that have begun to take preventative actions in prior so that it remains safe. It has announced a bounty of $20 million about the info of a possible attack. It has taken this measure to prevent itself from a major loss that might affect customer trust further.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and other altcoins.
BTC fluctuating
El Salvador has remained the focal point of Bitcoin investors. The current crisis has strengthened public opinion against Bitcoin because of the growing uncertainty regarding its value. As Bitcoin’s value fluctuated recently, it has affected the investments. As it serves as legal tender in El Salvador, Bitcoin has continued to impact the lives of its citizens.
The latest data shows that Bitcoin has added 4.60% over the last 24 hours. In comparison, the losses for the past week have been reduced to 2.63%. The recent fluctuations in Bitcoin value suggest that it might have to face changes in price value.
The current price value for Bitcoin is in the $20,596.99 range. In comparison, the market cap value for this coin is about $392,352,637,963. The 24-hour trading volume of this coin is about $30,151,762,327.
ETH faces problems
Ethereum has continued to serve the humanitarian cause. It has been one of the major networks that have served the Ukrainian state. According to the latest updates, the CryptoPunk sale has raised $100K in Ethereum to support its war effort. Ukraine has continued to face aggression from the Russian state for more than three months.
Ethereum has also been through a fluctuating period as it has added 4.88% over the last day. In comparison, the last seven days proved regressive as it has shed 0.09%. The changes suggest that turbulence is not yet over.
The price value for ETH is in the $1,125.53 range, while it is likely to change. The market cap value for this coin is estimated to be $136,139,796,041. The 24-hour trading volume of this coin is about $19,490,731,172.
AXS growing at a varying pace
Axie Infinity has also continued to vary its pace as the market has changed speedily. The latest data shows that it has added 8.67% over the last day. The data for the last seven days shows a gain of 13.46%. The value of it enhanced as its price has reached $14.35.
If we look at the market cap value for AXS, it is estimated to be $1,169,731,739. The 24-hour trading volume of this coin is about $145,906,335. The same amount in its native currency is about 10,170,347 AXS.
ZEC turns bearish
Zcash has continued to fluctuate as its daily performance has turned bearish. According to the latest updates, this coin has shed 1.18%. In comparison, the seven-day data shows a gain of 6.26%. The changing pattern has affected its price value which is currently about $64.59.
The market cap value for Zcash is estimated to be $946,249,898. The 24-hour trading volume of this coin is about $99,021,040. The circulating supply for this coin is about 14,649,506 ZEC.
Final Thoughts
The changes in the global crypto market have continued to impact investors. The recent fluctuations in Bitcoin and other coins’ values suggest that the market is not stable yet. The global market cap value has also changed due to an influx of capital. It is currently estimated to be $903.32 billion compared to the previous day.
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