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Bitcoin, Ethereum, eCash, and Huobi Token Daily Price Analyses – 7 October Roundup

Bitcoin

The performance of the global crypto market has continued to show a negative trend. The decline in the value of Bitcoin, Binance Coin, and others has continued. The regression for these coins and others has been a downward pressure. Various coins couldn’t retain value because the market has faced continued bearishness. As the negative trend continues, there is a likely chance that the market will lower its value. The market bearishness seems to be continuing for a while.

Google would have to require government authorization to provide advertising services for financial products in Spain. Google, the web giant, has announced that it will require authorization from government entities before lending advertising services to financial companies in Spain. The measure was implemented in the UK in 2021 and is likely to be expanded to more countries in the upcoming months. The reason for this restriction is the chances of possible fraud.

The Spanish Securities Regulator (CMNV) or the Bank of Spain will give the authorization. Those companies who need to advertise with Google will need verification. Also, Google will likely implement further requirements, which will be applicable from 2023. Google stated that the new measure would help guarantee a safe, healthy, and sustainable advertising system.

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

BTC continues to downsize

Bitcoin has kept sliding as there has been no improvement in its value. On the other hand, a Bitcoiner has claimed that he has found the ‘long lost’ Satoshi Bitcoin Code with personal notations. These claims haven’t been verified by any organization or Bitcoin yet.  

BTCUSD 2022 10 08 06 27 05
Source: TradingView

The recent changes for Bitcoin show a continuation of the negative trend. The latest data shows that it has regressed by 2.12% over the last day. The weekly data for Bitcoin shows a gain of 0.93%.

The price value for BTC is currently in the $19,574.42 range and might be lower. The market cap value for Bitcoin is estimated to be $375,203,864,636. The 24-hour trading volume of this coin is about $28,999,661,965.

ETH lowers further

OpenSea has unlocked the submission of bulk NFT listings and purchases. The largest marketplace for NFTs and crypto collectibles said it would permit bulk purchases and listings. The mentioned step will help with the ease of the customers and sellers.

ETHUSDT 2022 10 08 06 27 24
Source: TradingView

The performance of Ethereum has been no different from the rest of the market because of the bearish trend. The recent data shows that it has shed 1.69% over the last day. The seven-day data shows a gain of 0.27%.

The recent losses have brought ETH’s price value to the $1,333.12 range. The market cap value for this coin is estimated to be $163,571,349,457. The 24-hour trading volume of this coin is about $9,910,910,807.

XEC fluctuates

The performance of eCash has also continued to show a decline because of the lasting winter. The latest data shows that it has declined 1.27% over the last 24 hours. The seven-day data shows that it has added 2.88%. The price value for XEC is currently in the $0.0000424 range.

XECUSDT 2022 10 08 06 27 41
Source: TradingView

The market cap value for eCash is estimated to be $814,395,967. The 24-hour trading volume of this coin is about $83,909,951. The same amount in its native currency is about 1,977,991,046 XEC.

HT bullish

The value of Huobi Token has enhanced as the investors remained bullish on it. The latest data shows it added 5.55% over the last day. The seven-day data shows that it has shed 0.86%. The price value for HT has enhanced to the $4.40 range.

HTUSDT 2022 10 08 06 28 03
Source: TradingView

The market cap value for Huobi Token is estimated to be $674,925,342. The 24-hour trading volume of this coin is about $13,003,361. The circulating supply of this coin is about 153,357,694 HT.

Final Thoughts

Due to a bearish trend, the global crypto market has continued to shed value. The recent changes in the market show losses for Bitcoin, Ethereum, and others. As the negative trend has continued, the market has regressed in value. The global market cap value also declined due to these changes. The recent data shows that it is estimated to be $947.04 billion. 

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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.

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