The global crypto market couldn’t retain its gains and has seen another bearish wave. The changes in the market have brought a difficult situation. The performance of Bitcoin, Ethereum, and others saw a downtrend, resulting in a decline in value. The recent hours showed positive growth as the global market cap value enhanced. The last few days have brought the trend of alternation of a positive and negative trend. Thus, the tendency for fluctuations has made investors skeptical of the market.
Indian police have arrested two alleged in the crypto scam of $12 million. The police of the western state of Maharashtra conducted a raid, and two people were arrested who are believed to have defrauded 1,400 investors. Police conducted raids in the suburbs of Mumbai on 10 August in the areas of Thane and Powai.
According to the police statement, the arrested are Dilip Kumar Sikligar and Mohan Patil. The latter served as an agent and attracted customers for the prior. Police have taken custody of the two for investigation till 20 August. Police suspect the alleged of at least $750,000 in the scam, but the amount can reach up to $10 million. According to the investigator, 24 investors have reported losses, while the number of investors might increase.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC lowers to $18K
Bitcoin has continued to see a downturn due to a bearish market. Bitcoin investment ETFs and trusts have seen a decline in performance since May. The value of Bitcoin has fallen by about 70% since November 2021, and the negative sentiment has continued.
The recent changes for Bitcoin show no positive change. The latest data shows that it has shed 4.70% over the last 24 hours. In comparison, the losses for the last seven days are about 7.42%.
The price value for Bitcoin is currently in the $18,798.37 range. The market cap value for Bitcoin is estimated to be $359,867,440,060. The 24-hour trading volume of Bitcoin is about $42,407,925,946.
ETH sees decline
OpenSea has recorded further hype in the registration of Ethereum Domains. The reasons for the hype are Ethereum merge, increased adoption and attention towards NFTs, and ease of use. On the other hand, Ethereum miners plan for alternatives after the merge.
The performance of Ethereum has seen a downturn in recent hours. The latest data shows that it has shed 6.55% over the last 24 hours. The changes for the last seven days show a loss of 3.82%.
The price value for ETH is currently in the $1,524.23 range. The market cap value for this coin is estimated to be $186,367,587,011. The 24-hour trading volume of the same coin is about $21,856,432,519.
DASH on reversal
The value of Dash has seen a reversal due to a bearish market. The recent changes show that it has shed 9.97% over the last 24 hours. The weekly data shows that it has regressed by 7.20%. The price value for DASH is currently in the $42.80 range.
The market cap value for Dash is estimated to be $466,057,669. The 24-hour trading volume of this token is about $76,322,139. The same amount in its native currency is about 1,785,135 DASH.
HNT losing
The performance of Helium has also witnessed a decline due to dominant bears. The latest data shows that it has regressed 6.68% over the last 24 hours. The seven-day data shows that its losses are about 36.77%. The price value for HNT is about $3.56.
The market cap value for Helium is estimated to be $447,141,556. The 24-hour trading volume of this token is about $32,709,285. The circulating supply of this token is about 125,626,775 HNT.
Final Thoughts
The global crypto market has seen a speedy fluctuation in value. The recent changes brought losses to Bitcoin, Ethereum, and others. The negative changes were least expected, but the market has continued its fluctuating pattern. The global market cap value has also significantly declined due to bearishness. The recent data shows that it is estimated to be $941.08 billion. The recent changes have brought it down from $1 trillion.
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