The global crypto market has continued to decline in value as there has been no positive change. The recent data for Bitcoin, Ethereum, and others show that they continued to lose value. The market has seen a continuous efflux of capital, thus affecting the performance of most coins. There is a decline seen in the overall value of the market as well as it couldn’t revive due to lasting bearishness. There have been several attempts, but none have proved fruitful.
According to a Wallstreet Journal report, meta has fallen short of user goals for Horizon Worlds. The company changed its monthly users target to 280,000 instead of 500,000 as the number of users continues to dwindle. A survey shows that the players are not satisfied with the quality while they also complain lack of fellow users. The flagship program from Meta, Horizon Worlds, couldn’t achieve its target as users complained about its avatars being unrealistic.
Internal memos and documents accessed by WSJ tell of a lowering active number of users. They had initially targeted an increase in the number of users. The decline has continued since spring and is likely to continue further. The user activity has declined, while some users have quit it. The majority of destinations in Horizon Worlds remain completely ignored.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC continues bearish
Bitcoin prices have seen tough resistance despite resistance on the chart. Though there have been attempts to lower it below $19,000, it has resisted change. The coin continues to fluctuate as there has been no certainty.
The recent data for Bitcoin shows a continuation of the negative trend. The latest data shows it has shed 0.32% over the last 24 hours. The weekly data shows that Bitcoin has shed 1.31%.
The price value of BTC lowered to the $19,126.46 range due to the bearish market. The market cap value for Bitcoin is estimated to be $366,789,687,177. The 24-hour trading volume of Bitcoin is about $15,857,383,100.
ETH lowers further
Ethereum has seen an increase in censors, as 51% of validators can currently censor a user’s transactions. There has been a never-before-seen surge in censorship on the Ethereum blockchain, as 50% of blocks were created over the past day.
The performance of Ethereum has continued to show a negative trend. The latest data shows that it has shed 1.20% over the last day. The weekly data shows that it has declined by 2.11%.
The price value for ETH is currently in the $1,282.50 range. The market cap value for this coin is estimated to be $157,469,240,003. The 24-hour trading volume of this coin is about $6,736,962,385.
VET bullish
The value of VeChain has seen an improvement over recent hours. The latest data shows that it has added 0.84% over the last 24 hours. The seven-day data shows that it has added 0.36%. These changes result in a VET price value hike to the $0.02304 range.
The market cap value for VeChain is estimated to be $1,668,118,571. The 24-hour trading volume of this coin is about $46,671,229. The same amount in its native currency is about 2,028,743,257 VET.
HBAR turns recessive
The performance of Hedera Hashgraph has also seen a negative trend. The recent data shows that it has shed 2.68% over the last day. The weekly data shows that it has added 1.76%. As there has been a mixed trend for HBAR, its price value is currently in the $0.0608 range.
The market cap value for Hedera is estimated to be $1,397,818,366. The 24-hour trading volume of this coin is about $38,198,664. The circulating supply of this coin is about 22,968,168,351 HBAR.
Final Thoughts
The global crypto market couldn’t see a value revival due to the negative trend. The recent data shows that Bitcoin, Ethereum, etc., couldn’t see gains. The result of the recessive trend in the market is a decline in value. The global market cap value has continued to recede due to uncertainty. The latest data shows that it is estimated to be $916.33 billion.