TL; DR failed
- The global crypto market continues to decline 11.31% in 24 hours.
- Bitcoin continues its loss journey and fell 8.46% in 24 hours.
- Binance Quinn also did not get a deadline and lost 13.57%.
- Cardano and Shiba Inu also continued their regression with a decrease of 12.78% and 24.70% in 24 hours.
The market continues to have a difficult journey because new investments are declining while investors are losing money. The market began to change in December, when fluctuations led to price uncertainty. The negative situation has continued since then and the only slight change was related to the short breaks for the currencies. The original name in the sufferings was Bitcoin and its pattern has not changed.
There is no denying that other coins are falling, but dominating the market and the large volume of bitcoins makes it even more damaging. Changes in the market have also affected cryptocurrencies, with leading names including Binance and FTX. The two exchanges lost more than $ 2 billion in total. The reader can guess the extent of the losses of other exchanges.
Many currencies have fallen to new levels and some are at their lowest. Cardano is one of them who is going through his hardest days. There are hopes for normal days, but the current downturn seems to take longer. Therefore, it is not yet clear how long investors should wait for bullish times.
Here is a brief overview of major currencies such as Bitcoin, Binance Coin and more.
BTC has a strong foot on the reverse gear
Experts oppose the El Salvadorian government buying 410 bitcoins. Many refer to the deal as a loss-making purchase, but government officials say it is a future investment as prices rise. It remains to be seen what the investment results will be.
For the past twenty-four hours, the data has been a sad one, as Bitcoin has gone through a difficult time. The loss in the last 24 hours is about 8.46 percent, while the loss in the last seven days is about 17.69 percent. The data show that in recent days it has affected most of Bitcoin.
If we look at the chart of recent days, it shows the continuous losses of the last few weeks. The current price of Bitcoin is $ 35,417.97, while the loss has affected it and recently reduced it from $ 43,000. The current market value of Bitcoin is estimated at $ 670,704,910,210.
Bitcoin trading volume in the last 24 hours is about $ 50,050,036,021. If the market improves, there is a possibility that bitcoin will improve.
The BNB has no choice but to stagnate
Binance Quinn is also going through a difficult time, as it has received blows from investors. A loss of approximately 13.57% in 24 hours brought it to fourth place after Tetra. The Bainance price is also damaged due to constant changes and is estimated at $ 365.17.
While the loss of the last seven days is about 25.79%, which means that it has recently lost a quarter of its value. Changes may continue for a long time and reduce its value. The current market value of the coin is about $ 59,514,871,340.
The coin traded at $ 4,467,667,614 in the last 24 hours.
The ADA reached its lowest point
Cardano is no different from Bitcoin in terms of losses because it has reached its lowest level. The data of the last 24 hours show a loss of 12.78% while the weekly loss reaches 17.78%. The current price of the coin is about $ 1.04, while it ranks 6thSeventh.
If you look at Cardano’s current market value, it is around $ 34,462,779,684. Meanwhile, its trading volume in the last 24 hours is about $ 3,607,063,928.
SHIB needs relief
Shiba Ino has lost 38.71% while in dire need of relief. But there is no good news because it lost 24.70% in 24 hours. The aforementioned blows have reduced its price to $ 0.00001902.
Shiba Ino’s current market value is estimated at $ 10,443,749,034. While compared to the trading volume, it is estimated at $ 1,874,396,038. The mentioned trading volume is equal to 98,543,351,739,047 SHIB can be converted into local currency.
Final Thoughts
The market is going through continuous recessions and suffering has increased the market value to $ 1.61 trillion. The new shocks are severe compared to December 2021 and may further devalue. Investors withdraw their money to make sure they are safe from current changes. The result is a reduction in market size and may continue.
The only solution to this problem is stability, which can be achieved if bitcoin and other leading coins remain stable. Nothing is impossible and it may happen soon.