logo

Bitcoin, Ethereum, Chainlink, and Monero Daily Price Analyses – 27 October Roundup

Bitcoin

TL;DR Breakdown

  • The global crypto market has seen a trend of decline as it shed 2.13% in 24 hours.
  • The performance of Bitcoin also showed a negative trend as it regressed by 2.48%.
  • The value of Ethereum also lowered as it shed 3.29% over the last day.
  • Chainlink and Monero are both bearish as they receded 3.99% and 0.21%, respectively.

The global crypto market has witnessed a trend of decline over recent hours. The performance of Bitcoin and Ethereum shows that they couldn’t attract gains. As the negative trend continues, the market has depreciated considerably. Though there were hopes regarding the speedy surge in the market following the recent bullish trend, these have been dumped. The market is struggling to retain its gains as the sell-offs saw a surge over the recent hours. There is a likely chance of revival but no certainty about it.

CFTC commissioner has warned of similar themes to the 2008 financial crisis in the crypto market. CFTC commissioner Christy Goldsmith has compared the current situation to the chaos that brought about the 2008 financial crisis. Christy is the latest to ask for more regulatory power over the crypto market. She talked of the ‘contagion risk’ and the following issues. There are also intra-market risks that can affect users across the globe.

She, in her comments, referred to the financial crisis caused in part by the collapse of TerraUSD and 3 Arrows Capital. She said that just as regulators couldn’t see the crisis coming in 2008 due to unregulated companies and products, the same problem is faced today. The commissioner noted that though the crypto market is small today, the growing links and traffic make it problematic if it is unregulated.

Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.

BTC continues to lower

Costa Rica lawmakers have proposed nixing almost all taxes on Bitcoin. If the move is recognized and accepted by the majority of lawmakers, it will attract foreign investors and fintech companies. Thus, new job opportunities will be created for Costa Ricans. Costa Rican congresswoman Johana Obando presented the bill.

BTCUSD 2022 10 28 07 27 39
Source: TradingView

The recent changes for Bitcoin show a negative trend. The latest data shows that it has receded by 2.48% over the last 24 hours. The weekly data for Bitcoin shows that it has added 6.14%.

The price value for BTC is currently in the $20,267.01 range. The market cap value for Bitcoin is estimated to be $388,863,954,311. The 24-hour trading volume of Bitcoin is about $50,190,711,448.

ETH stays recessive

Google has unveiled a cloud-based blockchain node service for Ethereum projects. The giant company has introduced Blockchain Node Engine (BNE) based on Google for (ETH-USD) projects. The change will help integrate the traditional web into Web3.

ETHUSDT 2022 10 28 07 27 57
Source: TradingView

The performance of Ethereum has also shown a negative trend. The latest data shows that it has shed 3.29% over the last day. The weekly performance shows relatively better results as it has added 17.49%.

The price value for ETH is currently in the $1,514.52 range. The market cap value for this coin is estimated to be $185,177,216,037. The 24-hour trading volume of this coin is about $23,157,616,280.

LINK in losses

The value of Chainlink has continued to lower due to the recessive trend. The latest data shows it has shed 3.99% over the last day. The weekly data shows that it has added 3.41%. The recent fluctuations have lowered LINK’s price value to the $6.89 range.

LINKUSDT 2022 10 28 07 28 17
Source: TradingView

The market cap value for Chainlink is estimated to be $3,388,172,764. The 24-hour trading volume of this coin is about $397,854,692. The same amount in its native currency is about 57,725,910 LINK.

XMR fluctuates

The performance of Monero has shown no impressive results as it continues to lower. The latest data shows that it has shed 0.21% in the last 24 hours. The weekly data shows that it has added 2.35%. The price value for XMR is currently in the $145.95 range.

XMRUSDT 2022 10 28 07 29 47
Source: TradingView

The market cap value for XMR is estimated to be $2,662,808,791. The 24-hour trading volume of this coin is about $89,836,647. The circulating supply of this coin is about 18,193,042 XMR.

Final Thoughts

The global crypto market has seen a trend of decline due to bearishness. The value of Bitcoin, Ethereum, and others lowered significantly. As the market couldn’t retain gains, there has been a decline in investor gains. The global market cap has also been affected. The latest data shows that it is estimated to be 982.23 billion. 

[the_ad_placement id=”writers”]

Muhammad Ali

Muhammad Ali

Muhammad Ali is an expert on crypto investments. Loving to write about fintech, he joins the team to provide detailed analyses of the hottest crypto news.

Related News

Hot Stories

GYEN Price Prediction 2023-2031: Will GYEN Rise Again ?
Bitcoin, Ethereum, Shiba Inu, and Solana Daily Price Analyses – 9 December Roundup
Coinbase enables free switch from USDT to USDC, adds 1.5% APY bonus
Avalanche price analysis: Bullish uptrend marks AVAX price above $13.44
Bitcoin price analysis: BTC climbs above $17,000, potential breakout looms

Follow Us

Industry News

Best Twitter threads of the day - December 9th
Top crypto tweets of the day - December 9th
CZ takes a jab at Kevin O'Leary for defending SBF even after losing millions
Coinbase users to convert USDT to USDC for free
Ethereum developers are to release Staked Ether in March 2023

Add Your Heading Text Here