The global crypto market continued to face a negative trend as it was unable to regain momentum. Recent changes for Bitcoin show optimism while other coins have yet to show positive stats. The negative changes continued to affect the market. While Bitcoin and a few others have turned bullish, there is a chance the rest will follow. If the positive trend dominates, it will be a hopeful moment for the market amid the big corporate meltdown.
Hoo Exchange has taken down its website as user funds are blocked. According to a popular Twitter account, the exchange has taken down its official website. The not-so-popular exchange halted withdrawals earlier this year, leaving user funds trapped. The exchange mentioned is another from the list of companies that suffered a meltdown amid the FTX chaos. However, Hoo was unable to attract much attention due to its much smaller size than FTX.
A tweet today revealed that the website had taken down its website after months of inactivity. Since July, the Hong Kong-based website had kept its users in the dark, refusing to provide details of the funds. Additionally, the website’s other social media handles went dormant for months. The victims filed a complaint against the exchange with a local police station.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin and others.
BTC goes bullish
A mysterious bitcoin miner had shown one of the oldest signatures dated January 2009. The signature was shown as an answer to the question regarding who has the oldest bitcoin mined. An anonymous member shared the signature details showing the date Bitcoin was mined.
Recent changes for Bitcoin show considerable improvement. The latest data shows that it added 0.04% in the past 24 hours. Seven-day data for Bitcoin shows it added 2.39%.
The price value of BTC is currently within the range of $16,964.37. The market capitalization value of Bitcoin is estimated at $326,124,608,858. Bitcoin’s 24-hour trading volume is approximately $16,040,894,346.
BNB still in loss
False information about Cristiano Ronaldo Binance NFT has been circulating on social media. News related to NFT’s drop was being spread on various Twitter accounts. Official sources have refuted such NFT drops.
Binance Coin’s performance showed a negative trend. The latest data shows that it has lost 0.24% in the past 24 hours. Seven-day data shows it lost 7.78%.
The price value of BNB is currently in the range of $290.23. The market value of this coin is estimated at $46,428,642,764. The 24-hour trading volume of the same coin is around $577,280,713.
XCN continues to retreat
The chain also continued to decline in value due to the bear market. the latest data shows that it has lost 1.97% in the past 24 hours. The seven-day data of this coin shows that it has regressed by 6.01%. The price value of XCN is currently within the range of $0.03848.
Chain’s market cap value is estimated at $826,175,429. The 24-hour trading volume of this coin is around $9,451,126. The same amount in its original currency is approximately 245,542,775 XCN.
recessive ZEC
Zcash’s value also fell due to the negative trend. The latest data shows that it has lost 2.61% over the past day. Seven-day data shows it added 7.92%. The ZEC price value is currently in the range of $45.12.
The market cap value of Zcash is estimated at $714,793,880. The 24-hour trading volume of this coin is around $34,937,117. The circulating supply of the same coin is approximately 15,842,506 ZEC.
Final Thoughts
The global crypto market faced a decline in value as the downtrend continued. Bitcoin’s value has improved while others are still at lows. The ongoing changes show that the market should soon turn bullish. If the market changes direction to the positive, it will be a huge gain amid the collapse of various big names.
