The global crypto market has seen a change in performance as negative changes persist. Recessive changes in the market show that bitcoin, Binance Currency, and others incurred losses. With the deterioration of the global political and economic situation, the market experienced a decline in value. The recent increase in US inflation was the main reason for the losses in the market. If the Fed hike is announced, the value of these currencies could suffer further setbacks.
Jamie Dimon, CEO of JP Morgan, called cryptocurrency and its associated assets “decentralized Ponzi schemes.” Dimon has previously criticized bitcoin and other crypto assets as worthless. He said in one of the devotees that he had always remained skeptical of these origins. Damon also reiterated that he does not believe in the idea that cryptography is good for anyone. The use of cryptocurrencies for sex trafficking, money laundering, and other illicit uses has given them a bad reputation.
Damon also expressed his views on stablecoins that are controlled by algorithms. He referred to the collapse of “Terra”, which caused losses of more than 3 billion dollars to its users. Dimon instead preferred his desire for regulated stablecoins, which would be something useful for users.
Below is a brief overview of the current state of the market, an analysis of the performance of Bitcoin, Binance Coin, and more.
BTC is back at $19K
Nayib Bukele has remained a staunch supporter of bitcoin despite the bearish pull. In a final step, he is taking the Bitcoin-related discussions to the United Nations General Assembly. Bukele has continued to push for bitcoin-friendly legislation, even though his country remains stuck in debt. The International Monetary Fund has forecast that El Salvador’s debt will reach $38 billion within five years.
The value of Bitcoin continued to decline due to the strength of the bearish pull. The latest data shows that it has lost 1.83% in the past 24 hours. Bitcoin’s weekly data shows that it is down 5.47%.
The value of the BTC price is currently in the $19,005.01 range. The market capitalization of Bitcoin is estimated at $364,559,668,775. The 24-hour bitcoin trading volume is around $54,350,905,831.
BNB . fluctuates
Binance has created a global advisory board to lead responsible crypto regulation. With the regulation process accelerating around the world, there was a need for companies to get involved in the process. The head of Binance CZ has been at the forefront in this regard.
The performance of Binance Coin has not shown any encouraging results in the last hours. The latest data shows that it is down 0.48% over the past day. The performance of this coin for the past week shows a loss of 2.66%.
BNB price value is currently in the $268.59 range. The market value of this coin is estimated at $43,404,228.554. The 24-hour trading volume for this coin is around $1,124,218,987.
NEM has been bullish unlike the rest of the market. The latest data for this coin shows a gain of 1.17%. The data for the seven days shows that it lost 1.06%. The price value of XEM is currently in the $0.04061 range.
The market value of NEM is estimated at $366,054,686. The 24-hour trading volume for this coin also fluctuated, currently at around $10,873,017. The same amount in its original currency is about 267.334,247 XEM.
hot in gains
Holo is also following a bullish pattern as the upward flow reinforced it. The latest data shows that it has added 1.16% in the past 24 hours. The weekly data shows that it lost 1.26%. HOT price value is currently in the $0.002047 range.
Holo’s market value is estimated at $355,206,882. The 24-hour trading volume for this coin is around $26,589,771. The circulating supply of this coin is around 173,342,974,127 HOT.
The global cryptocurrency market continued to suffer due to the prevailing downtrend. The latest data on Bitcoin, Binance Coin, and others shows little hope. As the negative situation continues, the market value will decline. The global market value is likely to suffer even more. The latest data shows that it is estimated at $924.44 billion.
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