- The global crypto market continues depreciating and has lost 18.42% over the last 24 hours.
- Bitcoin is going through a hard day, shedding 2.38% over the last 24 hours.
- Ethereum is also in a difficult situation as its losses continue, shedding 2.11% in 24 hours.
- Dash is bullish compared to the dominant trend, adding 3.30%, while Basic Attention Token loses 2.39%.
The global crypto market underwent one of the hardest days as it shed more than 18% over the last day. The said indicators tell of a hard day that might be following as most coins would be struggling to retain their value. The change was unexpected as most coins were expected to follow the bullish pattern as it was continuing the other days. Instead of seeing improvement over the upcoming hours, the smaller coins of the market lowered value. The reason was sell-offs resulting from the increasing losses. As the new day sets in, Bitcoin and other coins might be looking forward to new gains.
Market analysts were expecting Ethereum to merge in June 2022, but there are chances that it might not take place then. Instead, it will take time, and the date has been extended. As the merge takes place, many changes will be a necessary part of the blockchain system, enhancing the user experience. Cardano is struggling to give Ethereum a tough time, and analysts predict that it might happen soon as it is drawing closer. Thus, it might threaten the monopoly of Ethereum on the prized second rank in the market.
Here is a brief overview of the current market situation using the performance of Bitcoin, Ethereum, and some other altcoins.
BTC remains unsure about the direction
The coin that has suffered the most during the recent market dips has been Bitcoin. It went through fluctuations that proved the worst after the ones during the start of the Russia-Ukraine conflict. The current situation seems to be continuing this way as there are little chances that the growth value will turn positive for Bitcoin.
The recent data for Bitcoin shows that it has gone through a loss of 2.38%. The losses have continued to increase as Bitcoin had little to gain over the last seven days. The weekly data shows that it has shed 7.14%. The price value for Bitcoin is also deteriorating, and it is currently about $40,146.44.
The market cap value for Bitcoin is estimated to be $763,278,669,530. If we compare the 24-hour trading volume of Bitcoin, it is about $26,441,825,427. The trading volume in the native currency of Bitcoin is about $658,634 BTC.
ETH continues to lower its value
Ethereum is facing the same situation as Bitcoin, and it has lowered value during the ongoing recession. Bitcoin and Ethereum were both improving, but then the pattern changed, and now both are at a loss. The recent twenty-four hours show no difference.
The latest data shows that Ethereum has depreciated 2.11% over the last 24 hours. If we compare the weekly losses for Ethereum, these have increased in leverage. The seven-day depreciation for this coin amounts to 6.81%. As the losses continue, there are chances that Ethereum might suffer further.
The current price for Ethereum is in the $3,020.80 range. In comparison, the market cap value of Ethereum is estimated to be $363,667,847,161. The 24-hour trading volume of Ethereum remained at $14,314,326,034.
DASH adds further value
The value of the Dash coin is strengthening compared to Bitcoin and other coins. The increase for Dash amounted to 3.30% over the last 24 hours. If we compare its weekly performance, it has shed 2.52%. The price value for Dash has been through a difficult phase due to losses, and it is currently in the $109.02 range.
If we take a peek at the market cap value for Dash, it is estimated to be $1,163,869,338. The 24-hour trading volume of this coin is about $235,841,542. The circulating supply of this coin improved after the new influx, and it is about 10,676,069 DASH.
BAT suffers fluctuations
The basic Attention token currently ranks 79th on the global list. As the market moves deeper into depreciation, it has shed 2.38% in 24 hours. In comparison, the weekly losses for this coin also tell a sorry tale as it has depreciated 5.74%. The current price value for BAT is about $0.7213.
If we look at the market cap value for Basic Attention Token, it is estimated to be $1,081,357,188. In comparison, the 24-hour trading volume of this coin is about $66,141,356. The circulating supply was about 1,499,204,735 BAT for the last 24 hours.
The market seems to be thin as the amount of losses is increasing. A single day cost the market more than it went through a whole week. It has also affected the global market cap value, which is currently about $1.87T. The value might decrease further as the indicators tell of continuing depreciation. Even though it is going through hard times, the previous examples show that it has revived soon after.