Changes in the global cryptocurrency market have continued to bring fluctuations. These changes have led to losses for Bitcoin, Binance Coin and others. As the fluctuations continue, the inflow of capital to the market has also been reduced. It has led to lower global market capitalization, which is already in chaos. If the current situation persists, it can spur another recession for the market in the coming days.
FTX has continued to expand its business as the market continues to be bullish. They have shown no reluctance to acquire crypto services they offer to companies. It has focused on acquiring those cryptocurrency mining companies facing bear market problems. Other companies have opted for rescue packages and solutions to help market.
According to market experts, acquiring digital assets in a bear market will not have any negative impact. Instead, it will benefit those who seek long-term benefits. Hence, FTX is working on a long-term strategy that can bring resources and ROI.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin and others.
BTC still recessive
Changes in the market have not only affected Bitcoin’s value and the mining community. According to the latest updates, June brought losses to the miners. According to the available data, its price revenues decreased by more than 26% while they continued further. The value of revenue from Bitcoin mining was $ 668 million.
The latest data for Bitcoin shows it has lost 0.39% in the last day. Changes over the past seven days show it has lost 8.36%. As the bearish situation persists, investors have not seen major changes.
Bitcoin’s price value is between $ 19,223.44. If we compare the market cap value for Bitcoin, it is estimated to be $ 366,843,314,457. The 24-hour trading volume of the same coin is approximately $ 20,781,105,242.
BNB remains bullish
Binance CEO Changpeng Zhao made a 10-year prediction on the future of decentralized finance. He is bullish on cryptocurrencies, decentralized finance, etc. And he continued to predict good days. Additionally, Binance’s business has expanded as new games and companies have launched their NFTs on its platform.
The latest figures for BNB show it added 0.82%. Dwindling earnings impacted his weekly performance, showing a loss of 6.27%. These changes suggest that investors may need to prepare for another delay.
BNB’s price value is around $ 216.10, as it has remained recessive. The market cap value has seen no improvement as it is currently estimated at $ 35,284,267,459. The 24-hour trading volume of this coin is approximately $ 829,438,610.
XTZ continues to add value
Tezos continued to be bullish as it added 4.68% on the last day. The positive changes helped him reduce his weekly losses to 2.59%. These changes show that its price value is set to improve. It is currently in the $ 1.43 range and could improve if the gains continue.
The market cap value for XTZ is approximately $ 1,286,412,978. The 24-hour trading volume of this coin is approximately $ 78,551,539. The same amount in its native currency is approximately $ 54,958,087 XTZ.
FIL keeps adding
Filecoin also remained bullish, adding 0.50% on the last day. Weekly data shows it lost 9.66%. The downward trend has affected the price value of this coin as it is around $ 5.32. As the downward trend continues, it has affected long-term investments.
The market cap value for FIL is estimated at $ 1,206,371,986. The 24-hour trading volume of this coin is approximately $ 76,275,390. The circulating supply of this coin remained Fil 226,819,893.
Changes in the global cryptocurrency market continued to affect the coins. The value of Bitcoin, Binance Coin and others fell due to the losses. As the losses continue, it has brought lasting impacts to the market that have impacted new investments. The changes show that the value of global market capitalization was also affected. It is currently estimated at $ 866.41 billion.