The global crypto market hasn’t been able to move forward from the ongoing bearish situation. The losses have worsened since the market’s last value has decreased over the last few months. There has been a backward march from various coins, like Bitcoin and others, as they have seen a considerable decrease in the influx of capital. The persisting situation has created a hopeless situation for many investors, while others see it as an opportunity.
One of the major impacts of the market recession is layoffs from companies. Huobi is one of the latest victims of downsizing. According to official reports from the company, they might consider downsizing up to 30% of the total bulk. Also, the company founder might go for the sale of their stake in the company.
FBI has added Ruja Ignatova to one of the ten most wanted fugitives. She is behind one of the major Ponzi scams in the history of crypto, OneCoin. She has been missing for quite some time, and this category might help find her.
Here is a brief overview of the current situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC continues to lower
Mexico might be the next to legalize Bitcoin as it has found a strong Bitcoin supporter. A Mexican senator has presented a bill to make Bitcoin legal tender in the senate. It is yet to be seen if this bill would find allies in the mentioned legislative body.
The latest data for Bitcoin shows that it has shed 1.12% over the last day. The changes have continued to affect its weekly performance as well as it has shed 10.96%. Bitcoin hasn’t been able to get out of this limbo as the market is unable to revive.
The price value for Bitcoin is also lowering as it is currently in about the $19,054.32 range. The market cap value for Bitcoin is estimated to be $363,356,369,061. The 24-hour trading volume of Bitcoin is about $16,260,025,872.
BNB lagging in limbo
Binance has been working on the sustainability of crypto as the struggle for eco-friendliness continues. According to the latest updates, Binance Pool has established a new partnership with Ultimus Pool. This partnership aims to provide incentives to those miners looking for sustainable options.
The changes for BNB have brought further losses as it has shed 0.05% over the last day. The changes in the weekly performance suggest a loss of 10.16%. The price value is also decreasing in tandem as the losses increase.
The price value for Binance Coin is currently in the $216.44 range. The market cap value for this coin is estimated to be $35,339,202,692. The 24-hour trading volume of the same coin is about $707,639,704.
MATIC still bullish
Polygon has continued to add value as it has gained 1.01% over the last day. In comparison, the losses for the last seven days are about 20.39%. These changes suggest that it might erode further if the momentum for gains doesn’t continue. The price value for MATIC is in the $0.4774 range.
If we look at the market cap value for this coin, it is estimated to be $3,834,160,739. The 24-hour trading volume of this coin is about $381,717,810. The same amount in its native currency is about 797,133,933 MATIC.
LINK stays bearish
Chainlink has also stayed bearish as the losses continue. These changes have brought a loss of 1.65% over the last day. The weekly performance shows that the losses have risen to 15.24%. The price value has moved in a bearish pattern as it is currently about $6.08.
The market cap value for LINK is estimated to be $2,842,441,300. The 24-hour trading volume of this coin is about $426,906,341. The circulating supply for Chainlink is 467,099,971 LINK.
Final Thoughts
The global crypto market is moving reversely as it has continuously decreased gains. The changes have affected Bitcoin, Binance Coin, and other major names in the market. These changes have resulted in the loss of considerable value. The global market cap value has also stayed recessive as it is currently about $862.70 billion.