The global crypto market has seen a decline in value despite the recent bullish trend. The ongoing changes have brought considerable losses to the overall market. The value of Bitcoin, Ethereum, and others has continued to decrease due to the change of the market mood to bearish. As there have been some major fluctuations, there is a likely chance that the market might make attempts to regain value. There are hopes that the market will be able to make gains.
Fan tokens have gained growing popularity amongst cryptocurrency investors. They have come as an offshoot of meme tokens which gained traction and continue to remain popular. Now, fan tokens have begun a trend of their own. Though 2022 is about to end, there is a significant enhancement in the value of these coins.
Football fan tokens have gained ground over the recent year as some of the famous ones include the Manchester City fan token and Santos FC Token. Though they remain popular, there are some downsides, and one of the major ones is FIFA World Cup. Qatar is expected to attract about 5 billion users. But the question is whether the interest in fan tokens will subside once this fever is over. And it is the question that continues to haunt the users.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC again in losses
Analysts have said that Bitcoin needs to continue standing above $19,200 to dilute downward pressure. There has been an increase in selling pressure due to the downtrend for Bitcoin. As a result of these changes, there has been a significant decline in the influx of capital.
The recent data for Bitcoin shows a continuation of the negative trend. The latest data shows that it has shed 3.39% over the last 24 hours. The weekly data shows that Bitcoin has receded by 2.20%.
The price value for BTC continues to fluctuate as it currently remains in the $19,164.84 range. The market cap value for Bitcoin is estimated to be $367,431,907,479. The 24-hour trading volume of Bitcoin is about $35,329,965,926.
ETH losing momentum
Ethereum wallet MetaMask has added instant bank-to-crypto transfers. The upgrade has resulted from the increasing demand for user convenience and scalability. The wallet will likely get further upgrades in the coming months to cope with the market competition.
The performance of Ethereum has also shown a lag. The recent data shows that it has shed 2.48% over the last 24 hours. The weekly performance of this coin shows a loss of 2.80%.
The negative changes have brought its price value to the $1,297.48 range. The market cap value of this coin is estimated to be $159,240,060,439. The 24-hour trading volume of this coin is about $11,866,549,501.
The value of Terra Classic has continued to see hard times. The latest data shows that it has shed 4.20% over the last day. The weekly data shows that it has receded by 6.08%. The price value for LUNC is currently in the $0.0002727 range.
The market cap value for Terra Classic is estimated to be $1,675,559,142. The 24-hour trading volume of this coin is about $267,941,216. The same amount in its native currency is about 983,627,395,545 LUNC.
TON in gains
The growth of Toncoin has continued despite the bearish trend. The latest data shows that it has added 2.02% over the last 24 hours. The weekly data for this coin shows a loss of 8.95%. As it regained momentum, the price value for TON is currently in the $1.25 range.
The market cap value for Toncoin is estimated to be $1,525,206,846. The 24-hour trading volume of this coin is about $6,351,679. The circulating supply of this coin is about 1,221,401,181 TON.
The global crypto market has seen a decline in value despite the recent bullish trend. The ongoing changes have affected Bitcoin, Ethereum, and others. As these changes set in, the overall market’s value has continued to recede. The result of these changes is a decline in the global market cap value. The latest data shows that it is estimated to be $918.73 billion.