The performance of the global crypto market has continued to fluctuate. This is evident from the losses of Bitcoin and some altcoins. Whereas if we look at the performance of Binance Coin and its subsequent altcoins, there has been a trend of increasing gains. Thus, the polarity of the market will determine the trend ahead. If the bearish coins dominate, it will affect the market. Whereas if the bulls can maintain their momentum, they will strengthen the market.
The US government and its representatives have shown a strong stance towards Bitcoin miners. The recent change was the Senate Democrats’ request for data from Bitcoin miners. They requested a detailed report from regulators on energy consumption, environmental impacts and other factors.
A letter from members of Congress, including Sen. Elizabeth Warren, Rep. Jared Huffman and others, to the Department of Energy and the Environmental Protection Agency. According to the details available, they demanded information on emissions and energy consumption. While regulators released data acquired from seven miners.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin and others.
BTC sees a bearish day
Bitcoin’s value continued to fluctuate due to the market decline. Changes in bitcoin value have also affected bitcoin miners. According to them, their profits have dropped by 58%. They barely weathered those losses as their earnings halved and depreciated.
The latest data for Bitcoin shows that it has pared its gains. Although the losses were not that big, it lost 0.90% in the last day. Comparing weekly performance, Bitcoin added 1.71%.
These changes impacted the price value of Bitcoin, which is around $21,266.31. If we compare the market cap value of Bitcoin, it is estimated at $408,204,879,112. The 24-hour trading volume of the same coin is around $23,405,895,754.
BNB continues to appreciate
The UK Treasury announced that its representatives held meetings with top crypto executives during the first quarter of the year. According to the disclosure, they met with representatives from Binance, Paxos, Coinbase, Circle and others.
Binance’s value has strengthened as it added 1.39% over the past day. The weekly performance shows that the gains of this coin are around 7.94%. The strength on his part shows that he will win again.
The price value of BNB is in the range of $252.58 while still improving. The market cap value of this coin is estimated at $41,269,180,689. The 24-hour trading volume of the same coin is around $1,099,968,331.
QNT turns red
Quant faced a downtrend like Bitcoin as the situation remains unfavorable. The latest data shows that it has lost 4.63% over the past day. If we compare the weekly performance, it added 24.40%. The price value of this coin is around $101.10.
If we look at the market cap value of QNT, it is estimated at $1,221,227,325. The 24-hour trading volume of the same coin is around $72,671,926. The same amount in its original currency is approximately 718,416 QNT.
HNT adds further
Helium has continued to grow in value as the inflow of capital continues. The latest data shows that it added 0.38% over the past day. The seven-day performance shows a depreciation of 4.50%. The value of the prize has fluctuated accordingly since it is around $9.02.
If we look at the market cap value of Helium, it is estimated at $1,099,224,724. The 24-hour trading volume of this coin is around $7,011,089. The circulating supply of this coin is approximately 122,016,384 HNT.
Final Thoughts
The global crypto market remained uncertain due to clear bipolarity. Bitcoin and its followers are moving in a negative direction. While Binance Coin and a few others continued to gain in value. It remains to be seen which of the two dominates. The value of global market capitalization also fluctuated. It is currently estimated at $970.94 billion.
