- Global market cap bleeds thanks to bearish run and 2.15% price decrease.
- Bitcoin slides further down in value after 1.33% depreciation, falling to $48.2k again.
- Ethereum slips back to $4,000 price value.
- Binance Coin relinquishes almost $40 in value after 5.76% depreciation.
- GALA makes its way back up the gainers’ list but with only 8.78% gains while EOS rises to $3.44 in price.
The global crypto market keeps straying from its goal recovery more by the days as it reaches a low of $2,232,868,474,305. Investing in cryptocurrency is a very risky business because of the market crashes and sudden upturns that keep investors on their feet and spark anxiety among the market.
It leads the market to wonder, how can the cryptocurrencies recover when everything seems to be going further downhill every day? The crypto market always fluctuates up and down; nothing new about that. It is possible that the crypto market can pick itself back up in a matter of hours, just like how it deteriorated one week ago and fell to its knees in a matter of minutes. Anything is possible because of its unpredictability, no matter the odds.
Just last month, everything was going spectacularly. Every cryptocurrency was at its highest point, and investors had been in great spirits because of it. It took only a day to knock the ball out of the park and for the crypto market to crash in a few hours. Still, the currencies keep on trading, and everything keeps moving forward with time.
Bitcoin bleeds nearly $1k in twenty-four hours
Bitcoin has certainly seen better days. In the long span of a week that seemed to have dragged on forever, it hasn’t taken any lasting strides forward. Bitcoin saw $51k but only a few moments before it was dragged back below the $50k mark. It hasn’t been able to make any grand recoveries; instead, the market value of BTC keeps on sliding downwards.
Bitcoin currently trades at $48,250; it is difficult to see this price, and even more difficult to believe that just at the end of last month, it was trading at nearly $10,000 more than $48k. For now, it continues its way down with a $916,954,025,174 market cap. Its trading volume has risen considerably up to $31,820,286,211. We wish Bitcoin a speedy recovery from its recent market downfall.
Ethereum and Binance slide below their recent upbringing
The past week has led to intense battles between price fluctuations bringing cryptocurrencies down past their worth. However, throughout all this, Binance and Ethereum have not suffered as much as the other cryptocurrencies like Bitcoin or Solana. Their influences in their respective industries are widespread and very notable.
Most people have heard Bitcoin’s name thanks to its popularity, but Ethereum and Binance have built their names thanks to hard work and good servicing in the last few years. Thanks to this influence, they haven’t bled as much this week, but today, even they’ve shown a considerable price drop. Ethereum currently trades at $4,000 after a 2.77% decrease in value, while BNB’s value is $551.73.
Ethereum’s trading volume has risen by 2.26% and trades almost equally to BTC at $26,719,492,111. Its market cap has suffered due to its value and is currently at $479,536,005,023. On the other, BNB’s trading volume has taken a turn far upwards by 17.92% up to $2,322,644,336. Its market cap rests at $92,550,938,578.
Gala and EOS make a comeback today
In this bearish run, seeing coins making gains has been a scarce sight. However, as some investors expected, GALA has risen to the challenge and has taken the top spot on the gainers’ list. However, it is not by much, considering it has only made an 8.78% gain today. It trades at $0.52 and ranks #42 by market cap at $3,694,601,043
EOS, a crypto token formed by the company to promote their decentralized app creation, ranks #47, a little lower on the charts, thanks to its slightly lower market cap of $3,365,472,360. The time for gaining is at an all-time low, but it seems Gala has continued to make a run upwards, which is certainly a mood-lifter for investors.
While the bear market continues to pull the market cap downwards and further below to the depths of the crypto market, some of the green charts turn only a few heads. The developments of the coins are constantly being thrown around as their prices continue downward like a ball in the game of pinball.