The global crypto market continues to face a negative trend as it failed to regain momentum. Recent changes for Bitcoin indicate optimism while other coins have yet to show any positive statistics. Negative changes continue to affect the market. As Bitcoin and others have risen, it is likely that others will follow. If the positive trend prevails, it will be a moment of hope for the market amid the collapse of major companies.
Hoo Exchange has taken down its website while users’ funds are locked. According to a popular Twitter account, the exchange has taken down its official website. The not-so-popular exchange stopped withdrawals earlier this year, trapping users’ funds. The said exchange is another in the list of companies that have fallen amid the chaos of FTX. However, Hoo has failed to attract much attention due to its much smaller size compared to FTX.
A tweet today revealed that the website has taken down its website after months of inactivity. Since July, the Hong Kong-based website has kept its users in the dark, refusing to provide any details about the funding. Additionally, the website’s other social media categories have remained inactive for months. The victims have registered their complaints against Mubadala at a local police station.
Here is a short overview of the current state of the market, analyzing the performance of Bitcoin, Binance Coin and others.
Bitcoin is going up
A mysterious Bitcoin miner has revealed one of the oldest signatures dating back to January 2009. This signature was revealed as an answer to the question of who has the oldest mined Bitcoin. An anonymous member shared the details of the signature that shows the date the Bitcoin was mined.
Recent changes for Bitcoin show a significant improvement. The latest data shows that it has increased by 0.04% in the last 24 hours. Bitcoin’s seven-day data shows a rise of 2.39%.
Bitcoin price value is currently in the range of $16,964.37. Bitcoin market cap is estimated at $326,124,608,858. Bitcoin’s 24-hour trading volume is about $16,040,894,346.
BNB is still in losses
Some fake news about Cristiano Ronaldo Binance NFT crash has been published on social networks. The news about the NFT crash was spread on various Twitter accounts. Official sources have denied any reduction in NFT.
The performance of Binance Coin has shown a negative trend. The latest data shows that it has fallen by 0.24% in the last 24 hours. The seven-day data shows a decrease of 7.78%.
The price value of BNB is currently in the range of $290.23. The market value of this coin is estimated at 46,428,642,764 dollars. The 24-hour trading volume of this coin is about 577280713 dollars.
XCN continues to retreat
This chain has also continued to decrease in value due to the falling market. The latest data shows that it has fallen by 1.97% in the last 24 hours. The coin’s seven-day data shows a 6.01% decline. The price value of XCN is currently in the range of $0.03848.
Chain’s market cap is estimated at $826,175,429. The 24-hour trading volume of this coin is about $9,451,126. The same amount in its native currency is about 245542775 XCN.
Defeated ZEC
The value of Zcash has also decreased due to the negative trend. The latest data shows that it fell by 2.61% in the previous day. The seven-day data shows an increase of 7.92%. ZEC price value is currently in the range of $45.12.
The market value of Zcash is estimated at $714,793,880. The 24-hour trading volume of this coin is about $34,937,117. The circulating supply of this coin is about 15,842,506 ZEC.
Final thoughts
As the downward trend continues, the global crypto market has experienced a decline in value. Bitcoin has recovered in value while others are still at their lowest. Continuous changes indicate that the market will soon turn bullish. If the market takes a positive turn, there will be significant gains amid the fall of various major names.
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