The global crypto market hasn’t been able to revive value over the last few hours. The performance of Bitcoin, Ethereum, and others has continued to show lag. As the value of these coins has lowered, the influx of capital has also lowered. The negative changes in the market have continued for a while and there is no certainty about what comes next. The change in situation is mainly the result of changes in the US economical situation.
Huobi exchange is in huge losses after pNetwork delayed the white-hat attack communication. The clash between the two over a Gala smart contract vulnerability following a white-hat execution has resulted in losses. Huobi wasn’t informed in time about the white hat attack which was meant to thwart malicious intruders from draining funds. Huobi claimed that the attack was planned and that failing to contact Huobi in time was strategic. As per their claims, the attack was intended to drain the exchange’s funds.
pNetwork has published the detail of how the attack took place. The mentioned network has claimed that it contacted Huobi before suspending all BEP20 transactions, including transactions and deposits of GALA coin. However, the blog claims that the communication was ineffective and couldn’t elicit any response. The price value of GALA plummeted 20% resulting from the white hat attack.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC in losses
According to new research on Bitcoin options, traders expect it to hit $30,000 in Q4. Options are financial derivatives in which two parties contractually agree to transact an asset at a stated price before a future date. If the mentioned change takes place, it will benefit the overall market.
The recent changes for Bitcoin show the continuation of the negative trend. The latest data shows a loss of 1.01% over the last 24 hours. The weekly performance shows an addition of 2.60%.
The price value of BTC is currently in the $21,020.74 range. The market cap value of Bitcoin is estimated to be $404,230,873,689. The 24-hour trading volume of Bitcoin is about $37,166,660,778.
ETH in lows
MicroStrategy could have made 108% more profits by investing in Ethereum instead of Bitcoin. American business intelligence firm MicroStrategy is amongst the top names that converted part of their balance sheet to Bitcoin. Their decision would have proved more beneficial if it had invested in Ethereum.
The performance of Ethereum also shows a continuation of lag. The recent data shows that it has shed 1.83% over the last day. The weekly performance shows an addition of 1.10%.
The price value of ETH is currently in the $1,588.54 range. The market cap value of this coin is estimated to be $194,595,969,214. The 24-hour trading volume of this coin is about $12,410,699,901.
NEXO in gains
The performance of Nexo has shown a different trend in contrast to other coins. The recent data shows that it has added 1.44% over the last 24 hours. The weekly performance of this coin shows an addition of 1.78%. The price value of NEXO is currently in the $1.01 range.
The market cap value of Nexo is estimated to be $564,969,700. The 24-hour trading volume of this coin is about $5,515,912. The same amount in its native currency is about 5,467,392 NEXO.
MINA regressing value
The value of Mina has also regressed over the recent hours. The 24-hour data for this coin shows that it has shed 4.40% over the last day. The weekly performance of this coin shows that it has added 4.92%. The price value of MINA is currently in the $0.7073 range.
The market cap value of Mina is estimated to be $518,904,012. The 24-hour trading volume of this coin is about $21,629,015. The circulating supply of this coin is about 732,925,624 MINA.
Final Thoughts
The global crypto market has witnessed no change over the last day. The performance of Bitcoin, Ethereum, and others continues to show losses. As the negative changes continue, there is a likely chance of lowering the value. The global market cap value is also in a reversal mode. The latest data shows that it is estimated to be $1.04 trillion.
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