The performance of the global crypto market has been negative due to continued losses. Recent data for Bitcoin, Binance Coin and others shows continued losses. If the current situation continues, there is a possibility of a further decline in the market. Market losses have been ongoing for some time and may lead to further deterioration. If the market needs profit for the investors, the losing trend has to step.
The former CEO of Morgan Stanley has admitted that if cryptography is used for monetary transactions, it could be a great way to go. As the cryptocurrency sector matures, there is uncertainty about how the industry will evolve. The main question will be how to integrate traditional finance. There is hope, especially among Wall Street figures who believe crypto and digital assets have a role to play in the payment system of the future.
A notable name in this regard is John Mack, the former CEO of Morgan Stanley, who acknowledged that cryptocurrency could be a great medium for transactions in the future. He said this in an interview with CNBC on October 13. According to Mack, crypto has several user advantages over the traditional system.
Here is a short overview of the current state of the market, analyzing the performance of Bitcoin, Binance Coin and others.
Defeated BTC
Yassine Elmandjra of Ark Investments is bullish on Bitcoin, saying it will hit $1 million per coin by 2030. But it is still unclear how Bitcoin will perform in the coming years.
Recent changes for Bitcoin continues to show its negative trend. The latest data shows that it fell 0.16 percent in the previous day. Weekly data shows that Bitcoin is down 1.82%.
BTC price value is currently in the range of $19131.96. Bitcoin market cap is estimated at $367,198,344,594. Bitcoin’s 24-hour trading volume is about $14,904,393,171.
BNB continues to decline
Binance has introduced a $500 million pool as a Bitcoin mining fund. The cryptocurrency giant recently announced that it is helping the ailing Bitcoin mining industry. To this end, Binance announced that it is looking to provide debt financing services to those participants in the sector who are facing difficulties.
The performance of Binance Coin has also not changed positively recently. The latest data shows that it has decreased by 0.42% in 24 hours. Weekly data showed a drop of 2.95 percent.
Negative changes for BNB have led to a decrease in its price value to the range of $269.92. The market value of this coin is estimated at 43,580,986,755 dollars. The 24-hour trading volume of this coin is about $502,036,058.
UNI in loss
The value of Uniswap has continued to decline due to the bearish market. The latest data shows that it fell by 0.37% in the previous day. The seven-day data of this coin shows a drop of 7.27%. As UNI continues to suffer, its price value is currently in the $6.10 range.
Uniswap’s market cap is estimated at $4,653,823,539. The 24-hour trading volume of this coin is about $5,854,3246. The same amount in its native currency is about 9588290 UNI.
Ascending ATOM
Cosmos’ performance has increased as capital inflows have helped it. The latest data shows that it has increased by 0.56% in the previous day. Weekly data shows a decrease of 11.37%. ATOM price value is currently in the range of $11.63.
The market value of Cosmos is estimated at $3,330,995,898. The 24-hour trading volume of this coin is about $111,625,541. The circulating supply of this coin is about 286,370,297 ATOM.
Final thoughts
The global crypto market has continued to witness a decline in value. Recent changes for Bitcoin, Binance Coin and others show a negative trend. As the negative trend is likely to continue, the market will witness further declines in profits. Global market value has also been affected. The latest data shows an estimated $917.38 billion.