The global crypto market has experienced an overall losing trend due to a bearish pattern. The latest changes show that the market has not been able to rise. The result of the bearish continuation has been a decline for most coins. The value of Bitcoin, Ethereum and others continues to suffer. As this situation continues, the market may bring significant losses to investors. The changing situation also makes investors reluctant to invest more.
Fidelity, Charles Schwab and other Wall Street giants are set to launch a digital currency exchange. The mentioned companies have formed a consortium consisting of brokers, global market makers and venture capital companies. The group will name its exchange EDX Markets and will work on crypto services for institutions and individuals. The exchange has plans to offer the best trading prices by aggregating liquidity from multiple market makers.
EDXM will be supported by Fidelity, Charles Schwab, Citadel, Virtu Financial, Paradigm and Sequoia. The exchange will be centralized and facilitate trading through trusted intermediaries. Meanwhile, Fidelity CEO Mike Novogratz announced plans to switch retail clients to cryptocurrencies. Many more companies are expected to partner with EDX Markets in the future.
Here is a brief overview of the current market situation, analysis of the performance of Bitcoin, Ethereum and others.
Bitcoin in loss
Bitcoin’s recent performance has been admirable. The market giant managed to grow significantly, but could not maintain the momentum. Recent changes have brought it back from $22,000, but experts believe that good times are not far away and it will soon turn upside down.
Bitcoin’s recent changes indicate a continuation of the downward trend. The latest data shows a drop of 8.95% in the last 24 hours. In comparison, last week’s data shows an increase of 7.57 percent.
Bitcoin price value is currently in the range of $20,266.79. The market cap of Bitcoin is estimated at $388,109,448,333. The 24-hour trading volume of this coin is about $51,298,150,203.
Ethereum continues to decline
The regulation difficulty estimate says that the Ethereum merger is only two days away. Market analysts expect large ETH transactions on exchanges to cause fear in the market. Emotions about Ethereum for users have been fear and excitement as this big event is coming up soon.
The performance of Ethereum has also shown a negative trend. The latest data shows a decrease of 7.00% in the last 24 hours. In comparison, weekly data shows an increase of 2.51%.
ETH price value is currently in the range of $1574.63. The current market value of this coin is estimated at $192,669,399,241. The 24-hour trading volume of this coin is about $23,062,527,652.
VET slows down
VeChain has also shown a downward trend due to the bearish market. The latest data shows a 6.39% loss in the last 24 hours. In comparison, seven-day data shows an increase of 2.38 percent. The price value for VET is currently around $0.02364.
The VeChain market capitalization is shown to be around $1,713,957,088. The 24-hour trading volume of this token is estimated at $103,153,684. The same amount in its native currency is about 4,464,048,508 VET.
ApeCoin has been defeated due to reduced capital inflows. The latest data shows that it has fallen by 3.88% in the last 24 hours. In comparison, the weekly data shows an increase of 20.72%. APE price value is currently in the range of $5.20.
The market cap for ApeCoin is estimated at $1,596,256,836. The 24-hour trading volume of this token is about $523,548,127. The circulating supply of this token is about 308875000 APE.
The global crypto market has been witnessing a losing trend for some time. Recent changes in the market have caused losses for Bitcoin, Ethereum and others. If the current situation continues, the market may reach its lowest level. Continued losses in the market may worsen conditions for investors. The global market value has also decreased. The latest data shows that this figure is estimated at 990.66 billion dollars.