The global crypto market has shown a positive trend as it struggles with losses. Recent hours brought gains for various coins including Bitcoin, Binance Coin and more. The result of positive changes has been hope for investors. The market has pushed itself forward amid the difficult conditions caused by the global financial crisis. The US Federal Reserve continues to raise interest rates while other problems persist. This situation requires strength from the market.
Experts have argued that the SEC cannot claim jurisdiction over Ethereum transactions. The SEC recently claimed to have jurisdiction over Ethereum. This statement could set a dangerous precedent for the global crypto market, which has a dense cluster of nodes in the United States. Although blockchain has more nodes in the United States than any other country, this claim cannot be justified.
If the aforementioned precedent is established, it may cause problems for other cryptocurrencies in the future. If any government entity manages such events, there is concern of network censorship. Market participants said that this was totally unacceptable and that they would strongly push back against such an attack. If it serves as a precedent, it will have ugly consequences, Dylan Leclerc said.
Here is a brief overview of the current market situation, analysis of the performance of Bitcoin, Binance Coin and others.
Bitcoin remains at $19,000
The price of Bitcoin has fluctuated recently due to problems in the market. Market analysts have predicted new shocks for Bitcoin in the fourth quarter. Bitcoin has fallen deeper into the hole due to the bearish situation. The entire market is stagnant due to the increasing losses of digital currencies, regardless of their losses.
Bitcoin’s recent changes indicate a continuation of the downward trend. The latest data shows that it has increased by 2.12% in the last 24 hours. The weekly data shows a decrease of 15.29%.
BTC price value is currently in the range of $19,136.49. The market value of Bitcoin is estimated at $368,388,118,367. Bitcoin’s 24-hour trading volume is about $35,074,553,009.
BNB attempts to recover value
Binance-backed Indian exchange WazirX has announced that it will delist several coins. These include USDC, USDP and TUSD. This change is expected to happen soon. WazirX followed the lead of its parent company in removing these coins.
The value of Binance Coin has also suffered due to continued hard times. The latest data shows that it fell by 2.58% in the previous day. The weekly data of this coin shows that it has lost 9.01%.
The price value of BNB is currently in the range of $269.60. The market value of this coin is estimated at 43,584,904,171 dollars. The 24-hour trading volume of this coin is about $918,104,364.
TRX is uncertain
Tron’s performance has also shown uncertainty. The latest data shows that it has increased by 0.78% in the last 24 hours. Weekly data shows a 5.52 percent decline. The price value of TRX is currently in the range of $0.06022.
The market cap for Tron is estimated at $5,561,612,463. The 24-hour trading volume of this coin is estimated at $352,867,252. The same amount in its native currency is about 5,859,945,667 TRX.
ATOM in casualty
Cosmos has suffered losses due to the bear market. The latest data shows that it has fallen by 4.29% in the last 24 hours. Weekly data shows a 5.61 percent decline. ATOM price value is currently in the range of $14.99.
The market value of Cosmos is estimated at $4,292,176,406. The 24-hour trading volume of this coin is about $542,480,714. The circulating supply of this coin is about 286,370,297 ATOM.
The global crypto market has seen a trend of uncertainty. The difficulty of Bitcoin, Binance Coin and others has increased. If the current situation continues, the market may face losses. Global market value has also been affected by recent fluctuations. The latest data shows that it is estimated at 932.72 billion dollars.