The global crypto market has experienced a decrease in value over the past day. The performance of Bitcoin, Binance Coin and others has shown losses. The devaluation is part of the volatility that has continued over the past few months. The difference this time is that the market can cross the previous thresholds. There has been a significant improvement and there is a possibility that it can gain more value.
Coinbase’s revenue has dropped by nearly 50% amid crypto winter. The crypto market has continued to see tough times and one of the names affected is Bitcoin. As the negative trend continues for the market, the overall performance shows negative reports. Recently, Coinbase published its annual report for the third quarter of 2022. The report shows that it did not earn significant revenue in the third quarter. The available data shows that its income has decreased by 50% compared to the previous year.
According to official data, the company lost about $545 million, up from $406 million last year. Unfavorable macroeconomic conditions and the decline of the crypto market are the main reasons for the loss. Typically 90% of the company’s profit comes from trading fees, which is significantly higher than other companies.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and others.
Bitcoin is going down
Crypto experts care about Bitcoin if the foundation of DeFi becomes more one-sided with liquidity pools. More options for one-way bitcoin shares could lead to the consolidation of decentralized exchange stacks, which could turn into improvements.
Recent data for Bitcoin shows a decrease in capital inflows. Data from the last 24 hours shows a decrease of 0.76%. The weekly performance shows an increase of 2.18%.
Profit cuts have pushed the price of Bitcoin to the $21,248.80 range. Bitcoin market cap is estimated at $407,771,355,394. The 24-hour trading volume of this coin is about $35,235,428,255.
ETH continues to decline
There is a risk of Ethereum censorship due to OFAC rules. Increasing state regulation, especially from the United States, has led to the decline of various crypto companies. It is clearly stated that Ethereum is based in the United States and is therefore subject to its “regulations”.
Ethereum’s performance continues to decline. The latest data shows that it has decreased by 1.56% compared to the previous day. The weekly performance shows a decrease of 0.06%.
ETH price value is currently in the range of $1620.80. The market value of this coin is estimated at $198,156,287,837. The 24-hour trading volume of this coin is about $10,444,363,005.
FLOW cuts its profits
Flow’s performance has not been impressive either. Recent data shows that it has fallen by 2.01% in the last 24 hours. The weekly performance shows an increase of 3.55%. FLOW price value is currently in the range of $1.83.
Flow’s market cap is estimated at $1,896,202,287. The 24-hour trading volume of this coin is about $95,443,907. The same amount in its native currency is about 52,156,343 FLOW.
CHZ continues to grow
The value of chiles has continued to grow due to bullish changes. The latest data shows that it has increased by 8.13% in the previous day. The weekly performance shows that it has increased by 38.14%. The price value of CHZ is currently in the range of $0.2732.
Chili’s market cap is estimated at $1,641,393,330. The 24-hour trading volume of this coin is about $647345713. The circulating supply of this coin is about 647345713. A dividend increase is likely to improve Chili’s value.
Final thoughts
The global crypto market has witnessed a decline in value due to declining profits. The regressive performance of Bitcoin, Ethereum and others has affected the overall profit. As profits fall, investors are also left behind. The global market value has also been affected by this negative change. The latest data shows that it is estimated to be $1.05 trillion.