The global crypto market has changed direction as it turned bullish over the recent hours. The performance of Bitcoin and Ethereum still shows bearishness while others have turned bullish. The change in the performance of the market has brought stability to various coins. While others are likely to turn bullish soon. As the market has taken a positive direction, there is a likely chance that the investors will be benefitted. The recent few days of the bearish market had brought continuing losses to investors.
Terra LUNA CEO, Do Kwon is reportedly living in Europe. According to Korean authorities, his passport has been revoked and he continues to be in hiding. While South Korean publication KBS has claimed that Do Kwon is living in Europe despite the revocation of his passport. He is reported to have fled to an unknown European location via Dubai before the invalidation of his passport. He has ignored the foreign ministry’s requests to return his passport.
Authorities had asked him to return to South Korea and face charges of capital markets law violation, together with several other employees of the company. The South Korean authorities began a manhunt for him after the collapse of TerraUSD stablecoin and then that of LUNA in May 2022. Upon the request of South Korean authorities, Interpol issued a red notice for him.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC still bearish
Bitcoin mining firm Iris Energy might fail to pay off its loans. Several unfortunate cases have sprung up in the Bitcoin and crypto space. One of these is Iris Energy’s inability to pay off loans due to increasing financial issues. On the other hand, Block reported a $14.7 million net loss in Q3.
The recent changes for Bitcoin show the continuation of the negative trend. The latest data shows that it has shed 0.14% over the last 24 hours. The weekly performance shows that it has lost 0.05%.
The price value of BTC is currently in the $20,294.65 range. The market cap value of Bitcoin is estimated to be $389,461,697,840. The 24-hour trading volume of Bitcoin is about $43,142,098,931.
ETH continues recessive
OpenSea Polygon outperformed OpenSea Ethereum in October. As people have continued to move away from speculative asset classes, leading NFTs marketplace OpenSea has continued to suffer. The suffering has come in the form of a decline in its share by market volume.
The value of Ethereum has also suffered losses due to a downward pull. The latest data shows that it has shed 0.39% over the last 24 hours. The weekly performance shows an addition of 1.23%.
The price value of ETH is currently in the $1,540.07 range. The market cap value of this coin is estimated to be $188,328,862,765. The 24-hour trading volume of this coin is about $13,566,408,793.
CRO gains momentum
The value of Cronos has witnessed a hike due to the bullish trend over the recent hours. The latest data shows that it has added 0.25% over the last day. The weekly performance shows that it has added 1.31%. The price value of CRO is currently in the $0.111 range.
The market cap value of Cronos is estimated to be $2,805,070,821. The 24-hour trading volume of this coin is about $28,174,578. The same amount in its native currency is about 253,745,733 CRO.
ALGO turns bullish
The value of Algorand has also seen a boost due to a bullish trend. The latest data shows that it has added 0.39% over the last day. The weekly data shows that it has added 12.75%. The price value of ALGO is currently in the $0.3699 range.
The market cap value of Algorand is estimated to be $2,610,877,459. The 24-hour trading volume of this coin is about $266,644,721. The circulating supply of the same coin is about 7,075,290,344 ALGO.
Final Thoughts
The global crypto market has witnessed a boost in performance over the last day. The data for Bitcoin and Ethereum still shows bearishness while others have seen a positive change. The ongoing changes have brought gains to the investors which are likely to continue. The global market cap value has also seen a hike. The latest data shows that it is estimated to be $1.01 trillion.
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