The global crypto market has seen a negative trend as it couldn’t recover from losses. The ongoing situation has pushed Bitcoin, Binance Coin, and others into further losses. As the market situation deteriorated, there was no hope for the investors. They have continued to face losses, reducing the worth of their investments. Some investors have preferred to go for sell-offs, while others are weighing their options. The uncertainty in the market has led to a lowering of its value over recent months.
OpenSea has announced that it has revised the NFT rarity ranking protocol after community feedback. While these changes have been made, some community members argued that the new rarity protocol destroys the market-driven rarity structure. As the rarity protocol has been revised, the collectors might get help deciding on purchasing NFTs.
As the new protocol OpenRarity has been put into effect, the users will see rank instead of rarity, thus affecting a user’s decision. The NFT marketplace has made some revisions to the protocol after receiving feedback from users, but there is a lot to be revamped. The new listings show ‘rarity rank’ instead of rank, adding the trait count. The change will be applicable across all chains on 25 October.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC drops to $18.8K
A former congressional candidate has ditched Bitcoin for XRP and LUNC. David Gokhshtein announced on Friday that he prefers to purchase XPR and LUNC instead of Bitcoin. The recent bearish changes for Bitcoin have led to the desertion of a lot of investors.
The recent changes for Bitcoin show a continuation of the negative trend. The latest data shows that it has shed 1.72% over the last day. The weekly data for Bitcoin shows a loss of 4.52%.
The price value of BTC is currently in the $18,842.09 range and is likely to lower. The market cap value for Bitcoin is estimated to be $361,493,215,270. The 24-hour trading volume of Bitcoin is about $28,233,672,642.
BNB in losses
Binance has denied that it has used customers’ UNI for its Uniswap votes. Recently Binance activated a vote function using customers’ UNI tokens. This Binance UNI delegation would have been Uniswap’s second-largest voter. But the denial from Binance for its use has clarified that it won’t be used to impact the community decisions.
The performance of Binance Coin has also shown a trend of decline. The latest data shows that it has shed 1.70% over the last day. The weekly data shows that it has regressed by 2.61%.
The result of negative changes in the price value of BNB is regression, as it is currently in the $267.59 range. The market cap value for this coin is estimated to be $42,809,153,239. The 24-hour trading volume of this coin is about $581,216,463.
LTC continues to regress
The value of Litecoin has also continued to lower due to the negative trend. The latest data shows that it has receded by 2.51% over the last 24 hours. The weekly data shows that it has shed 3.96%. The price value for LTC has lowered to the $50.25 range.
The market cap value for Litecoin is estimated to be $3,590,277,662. The 24-hour trading volume of this coin is about $352,595,594. The same amount in its native currency is about 7,015,444 LTC.
FTT on decline
There has been no positive change for FTX Token due to the negative trend. The latest data shows that it has shed 2.26% over the last day. The weekly data shows that it has receded by 8.30%. The price value for FTT is currently in the $22.10 range.
The market cap value for FTX Token is estimated to be $2,951,148,824. The 24-hour trading volume of this coin is about $39,339,837. The circulating supply of this coin is about 133,373,303 FTT.
Final Thoughts
The global crypto market has seen a negative change in performance. The ongoing changes have affected Bitcoin, Binance Coin, and others. The market will likely continue in losses as the global scene continues unchanged. The global market cap value has also been affected by these negative changes. The latest data shows that it is estimated to be $903.12 billion.
