Latest Situation in Crypto Market: Bitcoin, Binance Coin, Tron and FTX Token Daily Analysis
Cryptocurrency News – The global crypto market continues to lose and is down 2.95%. Losses for Bitcoin increased over time as its value depreciated and decreased by 1.63%. Binance Coin is facing a difficult situation as the value of losses has increased and dropped by 3.76%. Tron and FTX Token are also going through a difficult period, losing 0.26% and 1.36%.
The global crypto market continued to decline to lows. The main reason for this decrease is seen as the expected increase in Fed rates due to uncontrollable inflation. There were attempts to revive the market with interest rate hikes, but no results were achieved. This will be the second attempt and the results have emerged in the form of declining markets. Billions of dollars lost in these two markets are due to significant changes.
The inflation problem continued to affect various markets. The World Bank has predicted a 3% growth in value, with an expected increase in value of $3,000 per ounce. As prices continue to rise, little can be done to prevent the negative effects of these changes. Also, as the recession hit the crypto market, the number of arbitrary data storage assets for Bitcoin has dwindled. It also affects the declining value of Bitcoin, which needs support in difficult times.
Below is the current market situation using the performance of Bitcoin, Binance Coin, and some others.
BTC Dropped To $37,000
Bitcoin faces a similar situation as before when there is an increase in the value of the expected federal rates. The fall of Bitcoin began to negatively affect other cryptocurrencies.
Changes for Bitcoin over the past 24 hours reveal how it could go even lower. It fell 1.63% as losses continued. The losses in the last seven days go further and are around 4.50%. The increase in their value tells what awaits Bitcoin in price value.
The current price for Bitcoin is in the $37,939.51 range. If we compare the market value, it is estimated at $721,859,296,765. Bitcoin's 24-hour trading volume remained at $26,087,557,340.
Latest Status on BNB Coin
Binance Coin is also in trouble due to rapid changes affecting its market value. With the instability in the market, the value of the losses increased. Binance Coin has remained immune to these changes to a certain extent but has also reduced its value.
Data for the last 24 hours show that it has decreased by 3.75%. By comparison, Binance Coin's seven-day performance shows no improvement as it has lost 5.50%. The continued increase in its losses caused its price value to plummet. The current price value for Binance Coin is in the $382.15 range. By comparison, the 24-hour trading volume equates to around $1,559,499,094. The market cap for it is estimated at $62,319,961,514.
TRX Latest Status
Tron has faced constant depreciation as the market has been going through losses. The latest data shows a 0.26% loss in the last 24 hours. If we compare the losses of the last seven days, it fell 5.64%. The value of losses is increasing and no recovery has yet been seen.
It is currently in the $0.06387 range. If we compare the market value for Tron, it is estimated at $6,424,498,521. The 24-hour trading volume remained at $1,054,018,242.
FTT Continues to Lose Value
The FTX token also lost value as losses increased. Changes deprived 1.36% in the last 24 hours. By comparison, the losses in the last seven days are about 7.42%. The price fell into the $38.27 range as investors preferred to sell their capital rather than see it depreciate.
The decline continues as its market cap also drops to $5,236,785,672. By comparison, the 24-hour trading volume was around $77,823,139. If we look at the circulating supply in the last 24 hours, it is around 101,612,877,913 TRX.