The global crypto market has seen a negative trend once again as the fluctuations continue. The recent changes for Bitcoin, Ethereum, and some others didn’t bring good news. Instead, there has been a decline in the value of various coins. As the market changed its direction, there has been a considerable depreciation in its value. If the current situation persists, the market might have to give up its recent gains. There is a hope that the market will soon recover from the recent fluctuations.
Twitter is likely to implement Signal Protocol for encrypted DMs on Twitter. One of major objectives of Elon Musk at Twitter is to implement encrypted messages in what he termed as Twitter 2.0 project. Musk is said to have informed the employees about this project. Furthermore, reports suggest that Musk is planning on bringing video and audio calls to individual users. In this context, it is pretty clear that there is no better option for him other than Signal Protocol.
In addition to news from internal sources, security researchers are also of the view that the recent changes suggest these changes. Interestingly, Meta’s Facebook is also using Signal Protocol since 2016. Musk is of the view that there should be no room for a data breach on Twitter. His recent address to employees said that the users should be free of privacy issues.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC faces decline
Bitcoin outflows from exchanges haven’t halted and that could affect its performance. The outflows have hit new highs since the past week as miners saw losses. The flow from miners to other holders might affect investors.
The recent changes for Bitcoin show another wave of bearishness. The latest data shows that it has shed 0.76% over the last 24 hours. The weekly performance of Bitcoin shows that it has shed 1.11%.
The price value of BTC is currently in the $16,510.69 range. The market cap value of Bitcoin is estimated to be $317,298,276,354. The 24-hour trading volume of Bitcoin is about $17,337,362,702.
ETH in losses
The ongoing week saw a bit of stability in the performance of Ethereum after the major events. Experts are of the view that the storm after the collapse might have passed and Ethereum might follow its usual course.
The performance of Ethereum has also seen lows due to a bearish trend. The latest data shows that it has shed 0.63% over the last day. The weekly data shows that it has shed 0.45%.
The price value of ETH is currently in the $1,213.61 range. The market cap value of this coin is estimated to be $148,514,070,599. The 24-hour trading volume of the same coin is about $4,588,589,058.
DOT continues bullish
The value of the Polkadot has continued to increase due to a bullish trend. The latest data shows that it has added 0.23% over the last 24 hours. The weekly data for this coin shows that it has shed 4.79%. The price value of DOT is currently in the $5.35 range.
The market cap value of Polkadot is estimated to be $6,095,209,587. The 24-hour trading volume of this coin is about $135,967,444. The same amount in its native currency is about 25,438,238 DOT.
SOL turns recessive
The performance of Solana has shown a negative trend. The latest data shows that it has shed 1.80% over the last 24 hours. The weekly performance of this coin shows that it has added 11.15%. The price value of SOL is currently in the $14.20 range.
The market cap value of Solana is estimated to be $5,153,651,779. The 24-hour trading volume of this coin is about $295,186,095. The circulating supply of the same coin is about 363,033,733 SOL.
Final Thoughts
The global crypto market has faced a decline in value due to a negative trend. The recent changes for Bitcoin, Ethereum, and others show a loss of value. As the market has changed direction, the influx of capital has lowered. The global market cap value has also faced a decline as it is currently estimated to be $839.02 billion.