Crypto News Today
Coin analysis
There has been an inrush in the amount of capital in the world crypto market. This change is a result of the value of Bitcoin and other major cryptocurrencies’ decreasing growth. Let’s give you a full update on crypto news and the coin’s status
In this article, we shall discuss briefly the current market situation using July as our average. We shall be analyzing BNB, Bitcoin, and a few others.
Binance coin.
BNB has been among the best investment options during this bullish market period. This is because the CEO of Axie Infinity transferred funds to Binance during the saddening news of the Ronin Bridge hack.
As a result of the decision, BNB utilized the market situation and added a significant amount despite of the market conditions. E.g. For the last seven days of July, the coin has increased by 5.70% which is a huge increase compared to the rest of the cryptocurrencies.
Bitcoin’s status.
Despite it being unable to move forward netizens are being encouraged to continue investing in it. Claims are circulating that there is a Bitcoin affair currently going on. This is due to El Salvador’s authorities encouraging its citizens to invest more in it.
Just as in 2015 Bitcoin is going through a difficult market period. But according to crypto analysts, the period will end and its prices will shoot up as before.
Its currently not in a good state but it has managed to stabilise itself within the current price range. This offers a bit of hope that it will rise back to its former state or even higher.
XEM
Nem is among the few cryptocurrencies suffering due to the effects of the bearish market. Its graph is dishearteningly receding.
In the last seven days of July, it has reduced by 2.07 % with its price falling to 0.04903$.
Let’s keep hope that it will rise in the long run.
CELO
This is among the few cryptocurrencies suffering hugely due to the bearish state. It’s currently showing a loss of 4.6%(seven-day average) from its previous price.
With its gains decreasing so is its price which is currently at 0.969$
Conclusion
As the big coins continue losing their value so are the other crypto coins. But this might be a market state such as that of 2015 meaning brighter days are ahead. Therefore let’s all wait for Bitcoin and the other crypto whales to regain their value and we shall enjoy the profits once more.
That’s all the crypto news we had for you today.
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