The global crypto market has seen changes in the performance of various coins as the bearish wave strengthened. These changes have affected Bitcoin, Binance Coin, and the following ones. The market has seen rare moments of bullishness for the past few months because of the lowered investor trust. They face problems due to the dominant trend of bearishness, affecting the amount of capital invested. It is yet to be seen what will be the next move for the market amid the ongoing bearishness.
Solana had posed itself as an Ethereum killer as it progressed speedily. The recent changes have brought its progress to an abrupt halt as it faced a wallet attack. Solana users found it a surprise when their wallets were drained on Tuesday of SOL and other Solana-based tokens. The heist resulted in draining 8,000 wallets, and $5 million worth of tokens and coins were taken.
As the news of the Solana wallet hack spread, the amount of investments in it decreased considerably. Now Solana and its related protocols have asked users to reconsider permissions to suspicious links to avoid any such happening in the future. These changes have affected SOL price, which has struggled, resulting from the ensuing challenges. It has lowered 3.28% over 24 hours as the hack was reported.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC stays bearish
Though Bitcoin has remained bearish for the last two days, it has seen some positive changes. According to the available updates, its funding rate has turned positive. The Bitcoin funding rate had fallen below neutral two weeks back, but it has begun to recover.
The latest data for Bitcoin shows that it has shed 1.98% over the last 24 hours. The negative changes have affected it considerably in recent days. The weekly data shows a loss of 4.88%.
The price value for Bitcoin is in the $22,660.84 range. If we compare the market cap value for Bitcoin, it is estimated to be $433,104,792,902. The 24-hour trading volume of this coin is about $24,630,128,584.
ETH facing regression
Ethereum merge was expected to bring its price above $1.9K, but it has remained constricted. Instead of moving forward, it has begun to face hard winds at this point. Some analysts have referred to it as the Pelosi impact, citing Pelosi’s recent visit to Taiwan. On the other hand, Ethereum-based transactions have come to the cheapest since December 2020.
Ethereum has continued to face regression due to a bearish market. It has shed 2.31% over the last day. In comparison, the losses for the last seven days are about 6.41%.
The ongoing changes have brought ETH price value to the $1,611.33 range. The market cap value for this coin is estimated to be $196,313,389,283. The 24-hour trading volume of this coin is about $14,034,101,946.
LRC gains traction
Loopring has gained traction as it has remained bullish. The latest data shows that it has added 1.34% over the last day. The seven-day data shows a loss of 4.86%. These changes have brought its price value to the $0.4169 range.
If we compare the market cap value for LRC, it is estimated to be $555,779,921. The 24-hour trading volume of this coin is about $91,731,335. The same amount in its native currency is about 219,530,775 LRC.
KAVA going up
Kava has also been following Loopring in gains as it has continued bullish. The latest data shows an addition of 1.79% over the last 24 hours. The weekly data shows gains of 8.13%. The consistent gains have brought its price value to the $2.10 range.
The market cap value for KAVA is estimated to be $506,094,695. The 24-hour trading volume of this coin is about $53,601,485. The circulating supply of this coin is about 240,475,034 KAVA.