The global crypto market has seen a negative trend over recent hours. The performance of Bitcoin, Ethereum, and others shows that there has been a continuation of the difficult times. The drastic changes in the market and the constant downward pull have continued to affect the market. As the market continues to face problems, there has been a decrease in the influx of capital. If the current situation persists, the market is likely to face turbulence.
According to a report, crypto billionaires have lost $116 billion since March 2022. The loss represents the collective personal equity of 17 people in the space, of which 15 have lost half of their fortunes since March. The bear market and the wave of bankruptcies in the market drained $116 billion from the pockets of the founders and investors in the past nine months. The estimates by Forbes show that there has been a considerable decline.
As a result of these changes, ten names were removed from the crypto billionaires list. One of the major losses was to crypto mogul CZ, the CEO of Binance. His worth was about $70 billion back in March, but it was reduced to $4.5 billion in December. Coinbase CEO has a worth of $1.5 billion which is down from $6 billion in March.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC in losses
There has been a mixed view about the Bitcoin market amongst market analysts. Some predict that there is a chance that Bitcoin will break the current resistance levels, while others have shown a pessimistic view predicting it lowering down to $13K.
The recent changes for Bitcoin show that it has continued to face difficulties. The latest data shows that it has shed 0.01% over the last 24 hours. The seven-day data shows that Bitcoin has shed 0.11%.
The price value of BTC is currently in the $16,842.51 range. The market cap value of Bitcoin is estimated to be $324,091,234,359. The 24-hour trading volume of Bitcoin is about $9,506,050,663.
ETH adds gains
Ethereum has faced a decline in the central exchange reserves, which had an impact on its price value. But the recent changes show that the Christmas season has brought with it good changes. The modest gains show that Ethereum might be able to regain momentum.
The performance of Ethereum shows that there has been an increase in the inflows. The latest data shows that it has added 0.23% over the last 24 hours. The seven-day data shows that it has added 2.93%.
The price value of ETH is currently in the $1,221.35 range. The market cap value of this coin is estimated to be $149,460,735,661. The 24-hour trading volume of this coin is about $2,525,773,769.
TRX resumes momentum
Tron has also seen a positive trend over recent hours. The latest data shows that it has added 0.90% in a day. In comparison, the weekly data shows that it has shed 0.32%. The price value of TRX is currently in the $0.05475 range.
The market cap value of Tron is estimated to be $5,036,716,485. The 24-hour trading volume of this coin is about $99,381,702. The same amount in its native currency is about 1,815,363,115 TRX.
SHIB turns green
Shiba Inu has also turned green as a result of the favorable market. The latest data shows that it has added 0.54% over the last day. The seven-day data shows that it has shed 3.98%. The price value of SHIB is currently in the $0.000008347 range.
The market cap value of Shiba Inu is estimated to be $4,582,859,864. The 24-hour trading volume of this coin is about $45,154,688. The circulating supply of the same coin is about 549,063,278,876,302 SHIB.
The global crypto market has seen a trend of decline in value. The recent changes show that Bitcoin, Ethereum, and others have continued to face turbulence. Even though some of them have turned bullish, there is still considerable pressure. The recent changes have brought a slight respite to the global market cap value as it is estimated to be $811.20 billion.