TL;DR Breakdown The global crypto market has again turned bearish; the losses for the last 24 hours amount to 3.26%. Bitcoin is also recessive, lost about 3.75% in the last 24 hours. Ethereum’s situation is no different, loses 3.95% in the last 24 hours. Solana and Cardano also continue to lose, even though they didn’t … Read more
- The global crypto market has again turned bearish; the losses for the last 24 hours amount to 3.26%.
- Bitcoin is also recessive, lost about 3.75% in the last 24 hours.
- Ethereum’s situation is no different, loses 3.95% in the last 24 hours.
- Solana and Cardano also continue to lose, even though they didn’t make much in the bullish period, losing 5.14% and 3.61%, respectively.
The market’s reversal is sudden, and it has shocked analysts as the predictions of growth haven’t proved correct. Experts hoped that the market’s bullishness would continue for long, but it couldn’t even continue for a week. Thus, due to the reversal of growth, the market is suffering from losing the gains it made in recent days. The only hope is an upcoming surge in the market about which none is sure, but it might take place very soon.
As the market is going through difficult times, the North Korean hackers’ group is trying to target the new startups in crypto. The apparent aim of this hacker group is to sabotage the growth of the crypto market. The unsure situation of the market, eroding investor trust, and uncertain situation of the market are causing great harm to the market. The results are evident in decreased market cap and pulling out of capital.
There is a need for stability in the market, or otherwise, it will follow the same bearish pattern. Here is a brief overview of bitcoin, Ethereum, and some altcoins.
BTC in a difficult situation
Bitcoin is the leading coin in the crypto market and suffers the most compared to other coins. The latest example is of its performance over the last 24 hours. The data taken from CoinMarketCap shows that bitcoin lost 3.75% in the last 24 hours. If we compare its performance for the last seven days, it shows a 0.64%. The change in the market has affected both its 24-hour and seven-day performance.
The current market cap for bitcoin is about $797,514,375,598. If we view the current price for bitcoin, it has come down to $42,132 and might recede further if the situation didn’t change.
The trading volume for bitcoin during the last 24 hours is estimated to be $36,587,919,669. The mentioned amount for bitcoin trading volume can be converted to 868,410 BTC.
ETH is trying to outclass bitcoin in losses
Ethereum is no different in the blows of recession and has suffered more than bitcoin. The data for the last 24 hours shows that it suffered a loss of 3.95% in the last 24 hours. The price for it has also decreased and is about $3,225.35. The performance for the last seven days also shows bearishness, and the value is about -0.79%.
The current market cap for Ethereum is about $384,320,118,074. The decrease in the market cap results from the recessive market, which has reduced this value. The trading volume for Ethereum is about $15,865,321,952 for the last 24 hours.
The new upgrades in Ethereum might attract new investments, which might give hope for a rise.
SOL is no different in losses
Solana has been suffering since December, and the brief change in the situation gave it hope for gains. The market’s bullishness was short-lasted, and resultantly coins didn’t gain much. The same holds about Solana, whose weekly performance shows a gain of 1.93%.
If the bearishness continues, Solana might not keep its gains. The data for the last 24 hours shows that it lost about 5.14% of its value. If the situation continues, further losses might weaken it.
The current price for Solana is estimated to be $144.35, while the market cap during the last 24 hours is about $45,181,902,367. If we take a peek at its trading volume, it is estimated to be $2,451,326,994.
ADA witnessing dips as the market turns bearish
The current price for this coin is about $1.24, while the market cap is estimated to be $41,522,842,908. The trading volume for the said coin during the last 24 hours is about $2,144,256,302.
The market has been waiting for stability for long but hard times continue. There is a need for a reversal of the situation towards bullishness. The gains during the previous bullishness are just a glimpse of what the market might achieve if it remains stable. So, the earnest target of the leading coins should be stabilization. If this happens, the pouring-in of the new capital will revitalize the market.