The performance of the global crypto market has seen another trend of lows. The ongoing changes suggest that the market is likely to face bearishness in the upcoming hours. The value of Bitcoin, Binance Coin, and others has continued to regress. If the current situation continues, the market might not be able to regain momentum. The momentary positive changes have helped the market, but there has been little change in its value.
Recent research shows that Florida is the best-prepared US state for widespread crypto adoption. While the US remains the forerunner in the crypto industry, recent data shows that not all states are on equal footing in the competition. Furthermore, not all the US states are ready for widespread crypto adoption. Research suggests that it is not just the pro-crypto regulations that help the market but also the supporting infrastructure.
Florida has remained on the top, weighing on items like Bitcoin ATMs, blockchain companies, and public interest in cryptocurrencies. The US hosts a network of 33,865 Bitcoin ATMs which comprises 87.1% of the global network of the mentioned ATMs. The research conducted by Invezz regarded Florida as the crypto capital of the US for its active engagement in the burgeoning crypto economy.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC turns recessive
Trading of Bitcoin miner Argo Blockchain’s stocks has been suspended in the US and UK. Argo had previously sold 3,843 Antminer S19J Pros for $5.6 million. These assets were sold in an attempt to secure short-term liquidity. The company announced a number of changes in October to cope with the difficulties.
The recent changes for Bitcoin show that it hasn’t been able to retain gains. The latest data shows that it has shed 0.49% over the last 24 hours. The seven-day data shows that Bitcoin has added 1.17%.
The price value of BTC is currently in the $17,159.92 range. The market cap value of Bitcoin is estimated to be $329,981,067,727. The 24-hour trading volume of Bitcoin is about $16,504,739,107.
BNB in losses
Binance CEO CZ and now-bankrupt FTX’s ex-CEO SBF has continued to accuse each other. The two continued their spate about the failure of the FTX/Binance deal. The former FTX CEO claimed that Binance threatened to walk out of the deal at the last minute.
The performance of Binance Coin has also shown a negative trend. The latest data shows that it has shed 1.20% over the last day. The seven-day data for this coin shows that it has shed 1.30%.
The price value of BNB is currently in the $287.34 range. The market cap value of this coin is estimated to be $45,964,635,666. The 24-hour trading volume of the same coin is about $584,721,157.
LTC continues red
Litecoin has also remained red due to the negative trend in the market. The latest data shows that it has shed 1.93% in a day. The seven-day performance of this coin shows that it has regressed by 0.75%. The price value of LTC is currently in the $76.32 range.
The market cap value of Litecoin is estimated to be $5,479,274,539. The 24-hour trading volume of this coin is about $339,129,619. The same amount in its native currency is about 4,444,241 LTC.
TRX still bullish
Tron has been performing differently from the rest of the market. The latest data shows that it has added 0.07% over the last 24 hours. The seven-day data shows that it has added 1.75%. The price value of TRX is currently in the $0.05494 range.
The market cap value of Tron is estimated to be $5,058,712,432. The 24-hour trading volume of this coin is about $150,550,117. The circulating supply of the same coin is about 92,075,811,334 TRX.
Final Thoughts
The global crypto market has witnessed a negative change in performance over recent hours. The latest data shows that Bitcoin, Binance Coin, and others haven’t been able to retain gains. The ongoing situation shows that the market is likely to regress. As the negative trend has continued, the global market cap value has also lowered. The latest data shows that it is estimated to be $855.02 billion.
