The global crypto market has shown a positive trend as it has struggled with losses. The recent hours brought gains to various coins, including Bitcoin, Binance Coin, and others. The result of the positive changes has been hopes for the investors. The market has dragged itself amidst the harsh situation due to global financial crises. The US Federal Reserve has continued to hike interest rates while other problems persist. The situation demands strength from the market.
Experts have argued that SEC can’t claim jurisdiction over Ethereum transactions. SEC had recently claimed that it has jurisdiction over Ethereum. The statement can create a dangerous precedent for the global crypto market, which has dense node clusters in the US. Though the blockchain has more nodes in the US than in any other country, the claim can’t be justified.
If the mentioned precedent is set, it might create problems for other cryptocurrencies in the future. There are fears of censorship of the network if any government agency handles such events. Market stakeholders said that it is completely unacceptable, and they will strongly push back against any such aggression. Dylan LeClair said that if it serves as a precedent, it will have ugly implications.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC stuck at $19K
Bitcoin price has wavered recently due to difficulties in the market. Market analysts have predicted new blows for Bitcoin during Q4. Bitcoin has dipped deeper into the pit because of the bearish situation. The whole market has seen a meltdown due to an increase in the losses for cryptocurrencies, regardless of their losses.
The recent changes for Bitcoin show a continuation of the recessive trend. The latest data shows that it has added 2.12% over the last 24 hours. The weekly data shows that it has shed 15.29%.
The price value for BTC is currently in the $19,136.49 range. The market cap value of Bitcoin is estimated to be $368,388,118,367. The 24-hour trading volume of Bitcoin is about $35,074,553,009.
BNB trying to regain value
Binance-backed Indian crypto exchange WazirX has announced that it will be delisting several coins. These include USDC, USDP, and TUSD. The change is expected to take place soon. WazirX followed the footsteps of its parent company in delisting these coins.
The value of the Binance Coin has also suffered due to continuing hard times. The latest data shows it has shed 2.58% over the last day. The weekly data for this coin shows that it has shed 9.01%.
The price value for BNB is currently in the $269.60 range. The market cap value for this coin is estimated to be $43,584,904,171. The 24-hour trading volume of this coin is about $918,104,364.
TRX uncertain
The performance of Tron has also shown uncertainty. The latest data shows it added 0.78% over the last 24 hours. The weekly data shows that it has receded by 5.52%. The price value for TRX is currently in the $0.06022 range.
The market cap value for Tron is estimated to be $5,561,612,463. The 24-hour trading volume of this coin is estimated to be $352,867,252. The same amount in its native currency is about 5,859,945,667 TRX.
ATOM in losses
Cosmos has been at losses due to a bearish market. The latest data shows that it has shed 4.29% over the last 24 hours. The weekly data shows that it has receded by 5.61%. The price value for ATOM is currently in the $14.99 range.
The market cap value for Cosmos is estimated to be $4,292,176,406. The 24-hour trading volume of this coin is about $542,480,714. The circulating supply of this coin is about 286,370,297 ATOM.
Final Thoughts
The global crypto market has seen a trend of uncertainty. The difficulty for Bitcoin, Binance Coin, and others has increased. If the current situation persists, the market might go to losses. The global market cap value has also been affected by recent fluctuations. The latest data shows that it is estimated to be $932.72 billion.
