- The global crypto market remains dormant over the weekend, shedding 0.70% over the last 24 hours.
- Bitcoin continues in an emaciated manner, shedding 0.37% over the last 24 hours.
- Ethereum is facing the same difficult position as Bitcoin, shedding 1.01%.
- ApeCoin and Ethereum Classic continued to recede in value over the weekend as they shed 4.00% and 3.21%, respectively.
The global crypto market has remained dormant as the weekend set in, lowering activity for most of the coins in the market. Even though the market was moving positively, the gains have been curtailed by the positive changes. The said situation is not favorable for the market because of it hindering the possibility of growth that lay open but was rendered impossible by decreased activity. The new day will determine if it changes course or will remain the same till the start of the new week.
The acceptance of Bitcoin and other currencies has grown over time, especially in Europe, because of its potential benefits. The recent statement supporting crypto and blockchain technology came from the French president Emanual Macron who expressed strong approval of it. Even though Macron supports crypto, he believes that it should be strongly regulated. The impact of crypto’s growth on the financial sector of the EU in general and France, in particular, is considerable because of its impacts. Various EU states will go for crypto recognition, but the terms for regulation are yet to be agreed on.
Here is a brief overview of the current market situation using the performance of Bitcoin, Ethereum, and some altcoins.
BTC remains static
Bitcoin investors have continued to wait for it to cross the threshold level of $40K because of its huge stakes. The value of Bitcoin went low a couple of days back because of the recession in the market. The following days brought optimism to the market but didn’t pull Bitcoin to the bullish state and thus unable to reach $40K.
For the last 24 hours, the data shows that Bitcoin continued to struggle with the influx and efflux of funds. The change induced a bearish pattern that affected its performance, thus shedding 0.37% in 24 hours. If we compare it for the last seven days, Bitcoin has eroded to 2.06%. The price value has decreased in the same manner.
The current price for Bitcoin is still at the same levels as yesterday and is in the $39,593.30 range. If we compare the market cap value, it is estimated to be $753,097,205,387. In comparison, its 24-hour trading volume of it is about $15,580,931,136.
ETH sees little difference
Ethereum has also been on the edge of a hard situation as the losses have continued to grow in value. The changes for Ethereum over the past few days were mired because of the continuous recession. The situation of Ethereum is also unstable because of the uncertainty about its merger that might come soon.
The recent data for Ethereum shows that it could not change direction and shed 1.01% over the last 24 hours. It is the continued legacy of weekly losses, which remain at 3.67%. Its value has eroded likely as the situation bittered.
The current price for Ethereum is in the $2,936.61 range. If we compare the market cap value, the recession has shown its impacts, and it has been reduced to $353,886,954,184. In comparison, the 24-hour trading volume is about $7,942,502,844.
APE experiences lowering gains
ApeCoin is one of those coins which showed great activity over the weekend. Its performance was a mix of gains and losses as it fluctuated in value. The data for the last 24 hours shows that it has shed 4.00%. In comparison, its weekly losses are about 38.71%. Thus, the improvement is far greater than the depreciation.
The current price value for ApeCoin is in the $16.16 range. In comparison, the market cap value is estimated to be $4,603,778,637. If we take a look at its 24-hour trading volume, it is about $1,780,623,115. The circulating supply of this coin is about 284,843,750 APE.
ETC sees further decline
Ethereum Classic is moving towards further decline as the changing situation didn’t help it. The data for the last 24 hours shows that the Ethereum Classic has receded by 3.21%. If we compare the losses for the last seven days, these are about 10.03%. The price value has decreased likewise in the $33.93 range.
The market cap value has also been affected as the market remained bearish. Its current value is estimated to be $4,560,429,922. In comparison, its 24-hour trading volume of it is about $338,192,374. If we convert the same amount to its native currency, it is about 9,968,031 ETC.
The situation of the global crypto market is relatively dipping as various coins lowered their gains over the weekend. Many might find the change unwelcome, but it might continue till Monday. The value of the global market cap remained in the same range, as it is about $1.84T as per the latest updates. There might be an increase in its value if the market resumes in the same bullish manner after the week’s close as it was till Friday.