The bearish trend for the global crypto market continues as capital inflow has barely changed. The total outflow shows that the market faced intensified sell-offs. The value of Bitcoin, Ethereum, etc. has dropped significantly. When the following coins are compared, they faced the same dilemma, with the exception of a few. The market needs to hold its gains as this will affect investments in the coming days. It remains to be seen whether the market will be able to do so or face another rapid run of losses.
The continuation of security exploits in the global crypto market is one of the main reasons for the bear market. The latest on the list is the Nomad Token Bridge exploit, which has had $190 million stolen. Hundreds of potential exploiters emptied the TVL of this token in a matter of hours.
It came in the form of a long series of transactions. The remaining amount in the wallet is about $651.54 million, according to DeFi Llama. The first suspicious transactions took place at 21:32 UTC. The alarms went off and users were alerted to withdraw their funds.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and a few others.
BTC stayed at $23,000
The US Department of Justice has shared the details of a case in which a woman was sentenced to 10 years in prison for using bitcoin for murder. She used bitcoin on the dark web to hire a hitman to kill her husband.
Source: TradingView
The latest data for Bitcoin shows it is down 1.64% over the past 24 hours. Weekly performance has improved as gains remain at 9.26%. It would need to retain profits to solidify its value.
The price value for Bitcoin is in the $23,038.24 range. The market cap value for Bitcoin is estimated at $442,179,643,244. Bitcoin 24-hour trading volume is approximately $25,952,148,508.
ETH continues its downward move
CryptoPunk Ethereum NFT sales have surged following Tiffany’s bid. According to available updates, NFT sales increased by 248% as Tiffany and Co. showed interest in using NFTs. The appeal of luxury brands can improve the struggling market.
Source: TradingView
Ethereum has also seen a lag in gains as it shed 4.79%. The decline has affected it for a while as its metrics show depreciation. Weekly performance shows it is up 13.60%.
The price value for ETH is in the $1,614.36 range. The market cap value for this coin is estimated at $198,195,263,521. The 24-hour trading volume of this coin is approximately $16,404,681,142.
ZEC still making losses
Zcash has also seen a continuation of losses due to a bearish market. The latest data shows it is down 5.55% in the last 24 hours. The seven-day data shows a 15.75% gain. The price value for this coin is in the $62.28 range.
Source: TradingView
If we look at the market cap value for ZEC, it is estimated at $931,075,259. The 24-hour trading volume of this coin is approximately $60,767,900. The same amount in its local currency is approximately ZEC 975,751.
FTM is gaining traction
Fantom has gained traction as it has made sizable gains. The latest data shows it is up 1.77% in the last 24 hours. The weekly data shows an increase of 15.61%. It was able to hold investors through the bearish wave. The price value for Fantom is around $0.3472.
Source: TradingView
The market cap value for FTM is estimated at $883,740,918. The 24-hour trading volume of this coin is approximately $238,039,053. The circulation supply of this coin is approximately 2,545,006,273 FTM.
Final Thoughts
The global crypto market has not seen any changes in the bearish wave. Recent data shows that Bitcoin, Ethereum and others have continued to depreciate. The reddening in the market seems to continue for a while. The value of the global market capitalization has also fallen due to the bear market. It is currently valued at $1.07 trillion.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com is not liable for any investments made based on the information provided on this page. We strongly recommend independent research and/or advice from a qualified professional before making any investment decisions.
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