- The global crypto market continues to recede in value, losing 3.05% over the last 24 hours.
- Bitcoin continues to reverse its value and has shed 2.64% over the last 24 hours.
- Ethereum has been no different as its losses amount to 3.51%, beating Bitcoin.
- Solana and Dogecoin depreciate a bigger value than other top coins, losing 3.99% and 4.95%, respectively.
The start of the new week has resumed the activity in the global crypto market. In contrast to usual Mondays, it shows a depreciating trend for various coins. A dominant trend for the leading twenty coins of the market shows a reduction in value. There were predictions regarding this change before Easter eve. The only change that Easter brought was a brief pause for the bearish coins, which saw bullishness for a short while. As the situation is getting clear with the increasing activity, there are chances that the market might suffer more losses.
Argentina has taken a step forward regarding crypto. Its securities regulatory authority has launched an innovation hub that will work on mainstreaming crypto. It will also work on regulating crypto investments, making them safer for investors. Latin America has taken progressive steps compared to other parts of the world in the promotion of crypto. El Salvador, Argentina, etc., have set examples for other countries. There is news regarding the introduction of NFTs to the market for Arabian horses. Finvault and Sheikh Stud are collaborating on this project.
Here is a brief overview of the current market situation using the performance of Bitcoin, Ethereum, and some other names.
BTC continues reversing gains
Bitcoin has been experiencing the weakest hours as the market has seen a tremendous decline in value. Experts are comparing the Bitcoin situation to a weakening thread. The decreased investments have led to battering Bitcoin, which previously contended for $50K. As the situation has turned for Bitcoin, its price has come much down.
The data for Bitcoin shows that it has shed 2.64% over the last 24 hours. Its past week was no different as the losses have continued in a strand. The weekly performance shows that Bitcoin has shed 4.44%. The weekend brought it little gains, due to which its price remained at the $40K range. Now, the recent changes have brought it to the $39,368.73 range.
The market cap value for Bitcoin is estimated to be $747,945,153,382. In comparison, the 24-hour trading volume of Bitcoin remained at $27,173,596,021. The value of the market cap might increase as Bitcoin is struggling and the investors benefit from it.
ETH still on freefall
Ethereum is also on a freefall like Bitcoin, as the market hasn’t brought favorable changes. The investments have decreased, and the result is decreasing value of this coin. The selling momentum has increased for Ethereum, and according to experts Ethereum Foundation now holds more than $1.6 billion after sell-offs.
According to the latest data, the losses for Ethereum are about 3.51%. In comparison, the last seven days were also tumultuous. It wasn’t able to remain bullish and thus shed 3.79%. The bearishness might increase its momentum because the market might remain unfavorable.
The market cap value for Ethereum is estimated to be $354,051,702,685. In comparison, the 24-hour trading volume of this coin is about 15,632,658,184. The same amount in the native currency of Ethereum is 5,317,346 ETH.
SOL suffers considerable depreciation
Solana is also in a state of bearishness because of the growing turbulence in the crypto market. It has suffered a loss of 3.99% over the last 24 hours. If we take a peek at the losses for the last seven days, these amount to 5.17%. The price value has decreased likely, and it is in the $98.58 range.
The market cap value has also shown a downward trend. Its current value is estimated to be $32,790,784,593. If we compare the trading activity for the last 24 hours, its volume is about $1.705,353,692. The circulating supply for Solana remained 333,118,346 SOL.
DOGE remains bearish
Dogecoin’s graph shows that its value fluctuated largely as the market situation deteriorated. Its daily performance of it shows a loss of 4.95%. The past seven days show a relatively lower amount of losses, which is about 3.70%.
The price for Doge is currently in the $0.1368 range and has not improved recently. If we take a peek at its market cap value, it is estimated to be $18,147,973,438. In comparison, the 24-hour trading volume of Doge was about $942,166,252. The circulating supply for it is about 132,670,764,300 DOGE.
The global crypto market is moving towards hard days as there has been no improvement in its value over the past few days. The ongoing situation shows no positive progress either. The current stats tell of a rollercoaster for the coins, and they should brace for it. If there is no stability in the market, the market might see new lows this time. It would be hard for coins compared to other recessive bouts.