The global crypto market has seen an overall trend of losses due to a bearish pattern. The latest changes show that the market hasn’t been able to turn bullish. The result of the continuation of bearishness has been a decline for most coins. The value of Bitcoin, Ethereum, and others has a continuation of loss. As this situation continues, the market might bring considerable losses to investors. The changing situation will also make investors reluctant to go for further investments.
Fidelity, Charles Schwab, and other Wall Street giants are set to launch a crypto exchange. The said companies have formed a consortium of broker-dealers, global market makers, and venture capital firms. The group will name its exchange EDX Markets, and it will work on crypto services for institutions and individuals. The exchange has plans to offer the best trading prices by aggregating liquidity from multiple market makers.
EDXM will be backed by Fidelity, Charles Schwab, Citadel, Virtu Financial, Paradigm, and Sequoia. The exchange will be centralized and facilitate trading through trusted intermediaries. Incidentally, Fidelity CEO Mike Novogratz announced their plans to shift retail customers into crypto. Many other firms are expected to partner with EDX Markets in the future.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC in losses
The performance of Bitcoin has been on the commendable side recently. The market giant was able to grow considerably, but it couldn’t retain the momentum. The recent changes have brought it back from $22,000, but experts suggest that good times are not far away and it will soon turn bullish.
The recent changes for Bitcoin show a continuation of a bearish trend. The latest data shows a loss of 8.95% over the last 24 hours. In comparison, the data for the last week shows a gain of 7.57%.
The price value for Bitcoin is currently in the $20,266.79 range. The market cap value for Bitcoin is estimated to be $388,109,448,333. The 24-hour trading volume of this coin is about $51,298,150,203.
ETH continues to decline
The difficulty adjustment estimate says that the Ethereum merge is just two days away. Market analysts expect large ETH transactions to exchanges to spark market dump fears. The sentiments about Ethereum have been those of fear and excitement for users as the mega event takes place soon.
The performance of Ethereum has also shown a negative trend. The latest data shows it has shed 7.00% over the last 24 hours. In comparison, the weekly data shows a gain of 2.51%.
The price value for ETH is currently in the $1,574.63 range. The market cap value for this coin is currently estimated to be $192,669,399,241. The 24-hour trading volume of this coin is about $23,062,527,652.
VET slows down
VeChain has also shown a trend of slowdown due to a bearish market. The latest data shows a loss of 6.39% over the last 24 hours. In comparison, the seven-day data shows that it has added 2.38%. The price value for VET is currently about $0.02364.
The market cap value for VeChain shows it is about $1,713,957,088. The 24-hour trading volume for this token is estimated to be $103,153,684. The same amount in its native currency is about 4,464,048,508 VET.
ApeCoin has been recessive due to lowered influx of capital. The latest data shows that it has shed 3.88% over the last 24 hours. In comparison, the weekly data shows a gain of 20.72%. The price value for APE is currently in the $5.20 range.
The market cap value for ApeCoin is estimated to be $1,596,256,836. The 24-hour trading volume of this token is about $523,548,127. The circulating supply of this token is about 308,875,000 APE.
The global crypto market has seen a trend of losses for a while. The recent changes in the market have brought losses to Bitcoin, Ethereum, and others. If the current situation persists, the market might go further to lows. The continuing losses in the market might deteriorate the situation for investors. The global market cap value has also seen a trend of decline. The latest data shows that it is estimated to be $990.66 billion.
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