Changes for the global crypto market continue to be in a negative direction as nothing has changed. Capital flows continue for Bitcoin, Ethereum and others. These changes have led to a decrease in the price value for individual coins. Also, the global market capitalization has seen no difference as it has been in bearish mode. The losses in the market have affected the inflow of new capital, which has further declined. Sales growth continues to plague the market.
Celsius has faced problems because the market has been bearish. CEL saw a small rally after it repaid $120 million. The past few weeks have fixed it, and hopefully we’ll see it resurrected soon. It remains to be seen whether it will be able to sustain these gains or face a strong market backlash.
On the other hand, India’s crypto tax has resulted in 83% transaction frequency. Exchanges like WazirX and Zebpay said that more than 83% of their customers have responded to the implementation of the new tax.
Here is a brief overview of the current market situation, analysis of the performance of Bitcoin, Ethereum and others.
Bitcoin continues to decline
Based on available data, there has been a decline in institutional Bitcoin investment over the past few months. Even though investors have continued to profit from the market’s recent rally, there has been bearish sentiment. Future changes will make it clear how the market will fare under the pressure of these changes.
The latest data for Bitcoin shows that it is down 1.96% over the past day. If we compare the performance of Bitcoin in the last seven days, it has decreased by 2.28%. Constant changes have not allowed the value of Bitcoin to increase.
Bitcoin price is in the range of $19,885.48. If we compare the market cap of Bitcoin, it is estimated to be $379,591,118,325. Bitcoin’s 24-hour trading volume is about $26,821,472,090.
ETH is facing a decline
Ethereum has received a mixed reaction from investors as the market continues to change. Recent data shows that Ethereum name service registrations have increased by 216 over the past week. On the other hand, sales at OpenSea exceeded $7.19 million.
Ethereum also saw a decrease in value by 2.71% in the last day. The changes of the last seven days are about 2.75%. Ethereum has continued to struggle amid the bear market.
The price of Ethereum is in the range of $1119.11. If we compare the market value of this coin, it is estimated at $135,926,486,822. The 24-hour trading volume of this coin is about $16,339,105,063.
QNT is damaged
Quant is also facing tough times as casualties continue to mount. The latest data shows that it fell by 4.01% in the previous day. The seven-day profit of this coin is about 1.14%. These changes have led to a decrease in the value of the price to $58.45.
If we compare the market value, it is estimated at $706,286,148. The 24-hour trading volume of this coin is about 33138636 dollars. The same amount in its native currency is about 566,448 QNT.
FTM continues to decline
As the market continues to decline, Phantom has not been able to recover its value. The latest data shows that it fell by 7.21% in the previous day. These changes have increased the weekly loss, which is about 8.54%. The price value of this coin is in the range of $0.2517.
If we compare the market cap of FTM, it is estimated at $640,472,392. The 24-hour trading volume of this coin is about $167,098,104. The circulating supply of this coin is about 2,545,006,273 FTM.
The global crypto market has continued its negative trend. These changes have led to a significant loss of value for the market. The latest data for Bitcoin, Ethereum and others shows that they have failed to recover their value. The global market value of this coin is estimated at 895.53 billion dollars.