The global crypto market has seen a decline in gains since the last day. The change has affected the overall performance of the market. As Bitcoin, Binance Coin, etc., have turned recessive, the rest of the tokens in the market have followed. Thus, the momentum of gains couldn’t be continued due to a lasting recession. The previous wave of bullishness was expected to take the market beyond the current resistance levels, but it couldn’t.
Monero has upgraded its system, bringing enhancements to security privacy features. The changes came as Monero completed a hard fork on 13 August. The management of the protocol announced the upgrade through a tweet. According to the mentioned tweet, Monero is more private and efficient. The new features include ringsize 16, Bulletproofs+, and view tags.
The developers had been working on the upgrade for the last four months. While the number of developers working on the upgrade was 70. The upgrade to the protocol was mainly aimed at enhancing the signature mechanism of the protocol. The change has upgraded the number of signers from 11 to 16. Also, it hides the origin of transactions on the network.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and some others.
BTC lowers value
Bitcoin’s longest-serving lead maintainer has quit. According to available updates, Wladimir van der Laan has retired after serving for eight years. He has named no successor for the job, leaving the position vacant for a competent person. He expressed the hope that the move would help make Bitcoin more decentralized.
The latest data for Bitcoin shows that it has remained recessive. The 24-hour data shows that Bitcoin couldn’t retain its gains and shed 1.71%. The change affected its weekly performance as well as it shed 0.04%.
The change in the market has affected Bitcoin’s price as well; it is currently estimated to be $24,114.67. The market cap value for Bitcoin is estimated to be $461,124,554,748. The 24-hour trading volume of Bitcoin is about $31,277,664,004.
BNB remains recessive
Binance has received approval for providing services in Kazakhstan. According to available updates, A Binance entity has received approval from Astana Financial Services Authority for carrying out its services in the country. The mentioned approval will help Binance expand its services further.
Binance Coin has also seen a recessive trend. The change in the market has brought losses of 2.98% over the last 24 hours. The seven-day data shows a loss of 4.59%.
The market change has brought BNB price value to the $317.08 range. The market cap value for this coin is about $51,157,271,001. The 24-hour trading volume of this coin is about $1,206,461,341.
LTC continues to shed
Litecoin has also continued in a regressive mood. The changes have brought a loss of 4.72% over the last 24 hours. The weekly data shows a loss of 3.76% for this coin. The price value for the same coin is about $61.36 range.
The market cap value for LTC is estimated to be $4,353,607,626. The 24-hour trading volume of this coin is about $522,752,680. The same amount in its native currency is about 8,519,071 LTC.
LINK unable to retain gains
Chainlink has also been in a depreciation mood due to the bearish market. The latest data shows this coin’s loss of 4.34% over the last day. The weekly data shows that it has added 0.06%. The price value for Chainlink is in the $8.67 range.
The market cap value for LINK is estimated to be $4,075,690,860. The 24-hour trading volume of this coin is about $478,946,919. The circulating supply of this coin is about 470,099,970 LINK.
Final Thoughts
The global crypto market has remained recessive as the bears are in a dominant position. The continuing bearishness of the market has brought losses to Bitcoin and other tokens. The change is expected to continue as there are almost no signs of bullishness. As the negative changes continue, the global market cap value has remained in recession. The mentioned value is currently estimated to be $1.15 trillion.
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