The global crypto market has seen a trend of decline in value as the market continues to be turbulent. The continuing problems have kept the value of Bitcoin, Ethereum, and others declining. As the negative trend continues, there has been a significant decrease in the influx of capital. The market has faced turbulence over most of the year and hasn’t been able to recover from losses. Though there was a slight respite on Christmas eve, that has come to an end.
Extreme weather conditions in North America have affected Binance’s cloud miners, as a result of which their subscriptions have been extended. The historic weather conditions have affected users across the globe in the form of outages. Binance has confirmed that the power outage on the Christmas holiday affected its customers as a power outage was caused, affecting its cloud mining products. Binance has confirmed that the outage lasted between 24 and 26 December, interrupting its services.
Binance has informed the users that it will extend the subscription of miners for three days and honor the average online rate of purchased contracts. The historic cold on 25 December week affected an estimated 250 million people from Texas to Quebec. Binance added that there would be no further announcement regarding the incident.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC drops to $16.5K
MicroStrategy has continued its trust in Bitcoin as it continues to add purchases. In a recent update, it has doubled down on Bitcoin as it made a $56.4 million purchase. MicroStrategy owns a considerable stash of Bitcoin and might have significant impacts on its future.
The recent changes for Bitcoin show that it hasn’t been able to maintain its momentum. The latest data shows that it has added 0.90% over the last 24 hours. The seven-day data shows that Bitcoin has added 1.79%.
The price value of BTC is currently in the $16,550.93 range. The market cap value of Bitcoin is estimated to be $318,537,607,761. The 24-hour trading volume of Bitcoin is about $17,043,243,754.
ETH faces losses
Alameda-linked addresses have begun swapping Ethereum (ERC – 20) tokens for Bitcoin. There is no clear information regarding who is behind the latest transfers from crypto wallets associated with Alameda Research. Alameda had gone bankrupt as the result of FTX collapse and following events.
The performance of Ethereum has shown no good changes recently. The latest data shows that it has shed 1.41% in a day. In comparison, the weekly data shows that it has shed 1.95%.
The price value of ETH is currently in the $1,191.55 range. The market cap value of this coin is estimated to be $145,815,065,709. The 24-hour trading volume of the same coin is about $5,074,562,045.
UNI on decline
Uniswap has also declined in value due to the bearish trend in the market. The latest data shows that it has receded by 3.04% over the last day. The seven-day data shows that it has shed 6.94%. The price value of UNI is currently in the $4.99 range.
The market cap value of Uniswap is estimated to be $3,804,292,748. The 24-hour trading volume of this coin is about $63,922,052. The same amount in its native currency is about 12,812,991 UNI.
XMR in gains
Monero has been in gains as it has attracted an influx of capital over the recent hours. The latest data shows that it has added 0.46% in a day. In comparison, the weekly data shows that it has shed 0.75%. The price value of XMR is currently in the $146.48 range.
The market cap value of Monero is estimated to be $2,668,896,898. The 24-hour trading volume of this coin is about $63,728,525. The circulating supply of the same coin is about 18,219,751 XMR.
Final Thoughts
The global crypto market has seen a trend of decline over recent hours. The value of Bitcoin, Ethereum, and others has continued to lower. The negative trend has affected the influx of capital. As the market has continued to lower value, the global market cap value has been affected. The latest data shows that it is estimated to be $794.37 billion.
