The global crypto market has turned bearish as a result of lowering addition. The investors have changed their mood because of the changing sell-off pattern, which has seen a rise over the last two days.
Though it wasn’t that big initially, it brought a significant change in the form of bearishness resulting from lowering investor confidence. The change in the market mood affected bullish coins as well. The overall trend is evident from the performance of Bitcoin, which has turned to reds as the gains changed to their lowest. There are exceptions to this trend, but it dominates in the overall market.
There is news that Axie Infinity Ronin Network has suffered one of the worst exploits of DeFi history. It has been through a loss of $625 million due to this exploit. As a result of such losses, regulators tend to tighten their noose on crypto and blockchain companies. It is yet to be investigated how it happened and who might be behind this happening. MasterCard is all set to offer payments in crypto as it has partnered with Bitcoin to offer payments. It will make the transactions process easy and reliable.
Here is a brief overview of the current market situation using the performance of Bitcoin, Binance Coin, and some other notable altcoins
Bitcoin has been lowering the value of gains as the market underwent trend changes. The change took place gradually instead of an abrupt turn in its trend. Even though it is bearish as per the latest updates, experts believe that it will turn bullish and soon cross $50K.
For the last 24 hours, the data shows that Bitcoin has lowered a significant amount. The losses for the previous 24 hours amount to 0.16%. If we compare the weekly performance, Bitcoin has been able to add 11.99%. The current price for Bitcoin is in the $47,302.07 range.
The current market cap value of Bitcoin is estimated to be $898,632,077,050. Its 24-hour trading volume of it is about $32,495,628. The same amount in the native currency of Bitcoin is about 686,979 BTC.
Solana is one of those coins that have continued bullish amid the changing market. The result of these changes has been the addition of 0.95%. The weekly gains are much better as they amount to 21.58%. If the market continues to stay bearish, there are chances that Solana might join the bandwagon.
The current price for Solana is in the $110.29 range. If we take a peek at the market cap value for Solana, it is about 35,856,581,081. The 24-hour trading volume of Solana is estimated to be $3,073,551,995. The mentioned amount in its native currency is about 27,867,659 SOL. The circulating supply for it remained 325,111,185 SOL in the last 24 hours.
Cronos’ graph shows that it has also been through a wave of losses. The result of the bearishness is depreciation in its value, amounting to 1.95%. If we compare the weekly performance, it has gained 14.77%. The market’s volatility has also affected the price value of Cronos, which is in the $0.4766 range.
The current market cap value of Cronos is estimated to be $12,039,302,025. If we take a peek at its 24-hour trading volume, it is about $107,799,809. If we convert the trading volume to its native currency, it is about 226,204,812 CRO.
The circulating supply for Cronos remained at 25,263,013,692 CRO in the last 24 hours. The weekly graph for this coin shows that it has seen a dip after taking a steep climb.