The global crypto market has witnessed a decline in value due to a sustained decline. The performance of Bitcoin, Ethereum and others failed to improve. As the negative changes continue, there has been pessimism in the market. As the market continues to struggle with losses, the bearishness is reinforced. If the losses do not end, negative changes are likely to affect the market in the coming days. The market had barely broken past its previous resistance levels, but it seems to have returned to its former position.
Binance’s CEO has rejected Alameda’s offer to buy his company’s FTX tokens. CZ said it would stick to the “free market” and denied allegations of conspiracy against FTX. Binance’s CEO has clearly told Alameda’s CEO that he will not sell his FTX tokens. Responding to a question on Twitter, he said that they prefer not to be part of a conspiracy against anyone.
Alameda CEO Carolyn Ellison has publicly offered to buy all of the FTTs that Binance plans to sell. The proposal was made to limit the impact of liquidation on the market. However, CZ’s response indicates that they will slowly sell the competing exchange’s tokens on the market as originally planned. Binance’s exit from FTT comes as a response to its backdoor lobbying against other players.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and others.
Bitcoin continues to decline
Authorities have seized more than $3.36 billion worth of bitcoins linked to the Silk Road darknet market. U.S. Attorney Damian Williams announced Monday that authorities have seized more than 50,000 bitcoins allegedly linked to illegal online markets.
Recent changes for Bitcoin show no improvement as it continues to lag behind. The latest data shows that it fell by 1.93% in the previous day. The weekly performance shows no improvement as it has only added 0.65%.
BTC price value is currently in the range of $20,639.72. Bitcoin market cap is estimated at $396,308,249,856. Bitcoin’s 24-hour trading volume is about $51,832,874,570.
ETH sees no change
Vitalik Buterin, co-founder of Ethereum, has presented a new roadmap for the blockchain network. He has revealed the details of a new roadmap to get Ethereum back on track. According to the available details, one of its stages is “pest”.
The value of Ethereum has also suffered as it has failed to recover. The latest data shows that it has fallen by 1.03% in the last 24 hours. The weekly performance shows a fall of 0.59%.
ETH price value is currently in the range of $1571.25. The market value of this coin is estimated at 192,280,207,273 dollars. The 24-hour trading volume of this coin is about $14,617,924,420.
Descending ADA
Cardano’s performance continues to show a downward trend. The latest data shows that it fell by 1.10% in the previous day. The weekly performance of this coin shows a loss of 0.68%. ADA price value is currently in the range of $0.4049.
Cardano’s market cap is estimated at $13,860,700,002. The 24-hour trading volume of this coin is about $536,365,585. The same amount in its native currency is about 1,328,997,107 ADA.
Super defeated SOL
Solana’s performance has not changed due to the super recession. The latest data shows that it has lost 11.36% in the last 24 hours. The weekly performance of this coin shows a loss of 10.50%. The price value of SOL is currently in the range of $29.31.
Solana’s market value is estimated at $10,516,905,117. The 24-hour trading volume of this coin is about $2,508,101,180. The circulating supply of this coin is about 361,169,871 SOL.
Final thoughts
The global crypto market continues to suffer as there is still no way out of losses. Recent data for Bitcoin, Ethereum and others shows continued losses. As the market continues to suffer, investors are looking to sell. Global market value has also decreased due to current conditions. The latest data shows that it is estimated to be $1.03 trillion.