TL; DR failed
- The global crypto market is in decline and has lost 5.17% in the last 24 hours.
- Bitcoin is on the verge of crossing the red line and has lost 5.02% in the last 24 hours.
- Binance Quinn is also going through tough days and has lost 8.03% in the last 24 hours.
- Terra LUNA and Avalanche are also down, losing 4.58% and 7.57%, respectively.
The market is witnessing a major turmoil that has led to a sharp decline in the value of the global market. The result is the loss of major and minor coins, which has reduced their volume. This year, the changes are the first of their kind, as they have not been as close to or close to before. Therefore, the losses are higher than in the previous cases.
As we can see from the impact on Bitcoin, its changes have deprived it of a significant amount. If this situation continues, it could lead to further losses, which will be unfortunate for Bitcoin and other altcoins. Experts refer to this situation as the rise and then fall of bitcoins and other coins. Although Bitcoin and other coins may have plans to get out of this situation at the moment, none of them work, which is very unfortunate.
There have been reports that Meta has been working on combining NFTs on its social networking sites Facebook and Instagram. Once these social media platforms are able to integrate NFTs, it is likely that traffic will be attracted from decentralized digital currency markets. Therefore, this situation may be a new challenge for the weakening market.
Here is a brief overview of the market and the price of bitcoin and other leading coins.
Bitcoin is approaching the red line
Bitcoin is the most flexible coin on the market, because it laid the foundation for the market. It plays a significant role in the market because it dominates the market more than other coins. The current situation of Bitcoin has been severely affected as it has lost 5.02% in the last 24 hours.
The situation is no different in the last seven days, and Bitcoin seems to have broken its previous records. If we look at the weekly losses, it has lost 6.65% in the last seven days. The result of these changes is evident in the changes in the price of Bitcoin in the market, which decreased to $ 39897.91.
The current market value of Bitcoin is estimated at $ 755,475,455,495. Meanwhile, trading volume in the last 24 hours is estimated at $ 23,954,189,899. This change is due to a severe crash and Bitcoin may take a long time to recover.
The BNB had a bloodbath
Bainance Coin has also been among the market casualties such as Bitcoin. A change in the market situation has caused it to lose 8.03% in 24 hours. The change in the last seven days is about 10.32%, which is a lot if we compare it with the bulk volume and market value of BinanceQueen.
The price of the coin is $ 430.89, while the current market value is estimated at $ 71,134,902,752. The change in the situation also affected the trading volume of the coin and decreased to $ 2,112,336,052.
Luna is trying to save herself from humiliation
Terra Luna is also on the list of coins that have suffered 4.58% decline in the last 24 hours. The downtrend is likely to continue, and if it does, the price of the coin may be affected. This change is estimated at 2.34% in the last seven days.
The current market value of the coin is estimated at $ 27,709,133,111. Terra LUNA is currently trading at $ 77.75, while trading volume is estimated at $ 1,288,584,198.
Avalanche decreases, non-stop
The market has been rough compared to all coins and Bahman is in a downward situation. The latest change in the market in 24 hours has deprived 7.57%. In the last seven days, the data show a change of 14.48%, which has reduced the market value and its price.
If we look at the market value for Avalanche, it is estimated at $ 18,822,282,762. The current price of the coin is in the range of $ 77.03, while the trading volume is around $ 551,205,067.
The market has fallen again and the coins have suffered much more this time. As a result of the new changes, the global crypto market has lost 5.17%, reducing the market value to $ 1.88 trillion. The reasons for the change in the market climate are the same as there is no obvious turmoil in the market, but its effects are very harmful for the coin.
There is hope that the market will reverse these losses, and if this does not happen, there is a concern that the market will face more difficult conditions.