The global crypto market hasn’t been able to revive momentum as its value has continued to lower. The negative changes have continued for a day and have considerably affected Bitcoin and other altcoin‘s values. The changes have followed a bullish wave, thus not letting the market consolidate value. The continuous recessive bouts have deprived the market of a significant value, reducing investments. The market might not be able to stand the pressure if the bearishness continues unimpeded.
Bitcoin mining has seen changes across the globe as some countries have put an embargo on it, limiting the opportunities. In contrast, some countries are promoting it to ensure that it continues benefitting the system and the country. The latest in this regard is from Kenya, which has invited Bitcoin mining firms to utilize the surplus geothermal power. If it happens, it will open up new opportunities for Bitcoin mining, helping the miners have easy access to energy.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and some others.
BTC continues to lower
The global crypto market seems to be plunging further into difficulties. The impacts are evident on various Bitcoin activities as it has continued to lower value. The latest is from El Salvador, which has halted the issuance of Bitcoin bonds. These bonds were supposed to be launched this month but have been delayed again.
The latest data for Bitcoin shows that it has shed 3.20% over the last 24 hours. The performance of Bitcoin for the last seven days remained bullish as it has retained gains of 3.49%. The later value shows the resilience of Bitcoin amid the difficult situation.
The price value for Bitcoin is in the $29,595.97 range. If we compare the market cap value for this coin, it is estimated to be $563,932,876,526. The 24-hour trading volume of this coin is about $25,763,276,133.
ETH is making slight improvement
The ApeCoin community has expressed its trust in the Ethereum blockchain. There were some rumors that they would leave ETH, but they have denied them. They denied the news of transfer to a new chain and said they wouldn’t leave Ethereum. Ethereum has faced a critical situation as it has plans to upgrade.
The latest data for Ethereum shows that it hasn’t been able to retain value, shedding 4.01%. If we compare the weekly performance, the gains for Ethereum are 1.79%. The latter value has reduced considerably and might turn bearish soon.
The price value for Ethereum is in the $1,762.62 range. If we compare the market cap value for this coin, it is estimated to be $213,376,132,016. The 24-hour trading volume of this coin is about $14,719,026,660.
CELO is speeding its losses
Celo has also not been able to regain value as the regressive steps continue. The data for the last 24 hours shows that Celo has shed 7.41% over the last 24 hours. The performance of this coin for the last seven days shows a recession of 3.93%. The downtrend has continued to affect its price value.
The latest data for its price value shows that it is about $1.26. The market cap value couldn’t continue unchanged, and it has been reduced to $560,742,502. The 24-hour trading volume of this coin is about $22,945,291.
GALA showing uptrend
Gala has also been facing problems, but it has shown slight improvement. The changes in value show that it has reduced losses slightly, shedding 4.99%. The weekly performance for this coin shows strength in value as it has retained gains of 2.53%.
The price value for GALA is in the $0.07284 range. If we look at the market cap value for this coin, it is estimated to be $508,382,269. The 24-hour trading volume of this coin is about $184,092,597. The circulating supply for this coin is about 6,977,205,436 GALA.
Final Thoughts
The global crypto market has continued in shambles due to difficulties. The change in value has brought considerable losses, affecting the performance of Bitcoin and others. The changes might continue as the market sees no pushing force. The global market cap value has also been affected as it is currently about $1.22T. If the negative trend continues, the global market cap value will reduce further.
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