The global crypto market has continued to recede in value, as it has shed 2.33% over a day. Bitcoin hasn’t been able to regain momentum as it has shed 2.31%. Ethereum is facing the same situation as it has dropped 3.42% over the last day. Shiba Inu and Avalanche are both bearish as they have shed 5.33% and 5.18%, respectively.
The performance of the global crypto market indicates that the hard times might continue ahead. The data for Bitcoin, Ethereum, and other coins suggests that there has been no improvement in value over the last day. Also, the market has seen no big drop in value, which has encouraged investors. The lower losses prevent the sell-offs, which gives the investors hope. It is yet to be seen how the market will change its behavior in the coming days.
Crypto has continued to expand its scope to various fields in real life. One of these is Vibe Bio blockchain, which has plans to work in the pharmaceutical industry. According to Vibe Bio CEO, they have plans to revolutionize the trillion-dollar pharmaceutical industry. Alok Tayi was talking to The Scoop about this DAO and how it has plans for real-life benefits.
Catalonia has also announced its metaverse. According to their innovation minister, they plan to utilize the new technologies and will work on creating a tech-friendly environment for innovators and tech developers.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, etc.
BTC continues bearish
Bitcoin has faced a bearish market for a while. The global market has also seen no big change in value. According to the latest updates, its balance on exchanges remains at a 3-year low, which shows that it will soon turn bullish. Its struggle to return to previous highs has continued and is doing its best to make it possible.
The latest data for Bitcoin shows that it has shed 2.31% over the last 24 hours. The weekly performance also shows a drop in value at +0.41%. The recessive march has also affected its price value.
The current price value for Bitcoin is in the $20,595.85 range. If we compare the market cap value for Bitcoin, it is estimated to be $392,947,343,042. The 24-hour trading volume of Bitcoin is about $21,005,120,136.
ETH likely to drop further
Ethereum has seen a drop in value due to the changing market situation. It has seen support from NFTs and other digital assets that continue to use its platform for transactions. Exchanges like BTSE have announced plans for BTC and ETH products, which will incentivize the customers.
Ethereum has continued to shed value as it has receded 3.42% over the last day. The weekly performance is no better as it has reduced gains to 4.60%. The changes have resulted in further losses.
The price value for ETH is about $1,172.61 as the losses continue. The market cap value for this coin is estimated to be $142,267,822,795. The 24-hour trading volume of this coin is about $12,428,554,473.
SHIB sees further decline
Shiba Inu has also seen a decline in value as the losses increased to 5.33%. The weekly performance still consolidates as it has kept gains to 32.18%. The changes have resulted in a decrease in its value. The current price value for this coin is about $0.00001071.
The market cap value of this coin is about $5,878,919,744. The 24-hour trading volume of this coin is about $506,050,022. The same amount in its value is about 47,262,676,869,573 SHIB.
AVAX facing turbulence
Avalanche has also been facing problems as the market has seen a decline. The changes have resulted in a loss of 5.18% over the last 24 hours. The weekly performance shows retention of gains of 12.61%. The price value for this coin is about $18.87.
If we look at the market cap value for AVAX, it is estimated to be $5,323,423,281. The 24-hour trading volume of this coin is about $432,138,597. The circulating supply of this coin is about 282,076,249 AVAX.
The global crypto market has seen a decline in value as the recession strengthens. Currently, the amount of losses is not that big, but it will slowly gain momentum if it continues. The changes for Bitcoin, Ethereum, and others suggest that the market might face another crisis in case of prolonged bearishness. The global market cap value has also declined as it is currently estimated to be $925.72 billion.