Bitcoin, Binance Coin, Elrond, and Quant Daily Price Analyses – 28 August Morning Price Prediction

The performance of the global crypto market has seen no improvement as bearishness. The value of Bitcoin, Binance Coin, etc. has continued to depreciate. The market bearishness this time proved to be nerve-testing for the investors. As the market decline continues, the investors have seen an increase in their losses. The market would need a strong wave of bullishness for improvement in the current situation. The upcoming hours might decide if the market will be able to regain value.

Ethiopian regulators have made it mandatory for crypto providers to register with the cybersecurity agency. The companies will register with Information Network Security Administration (INSA), as per a report by Ethiopian media outlets. As the registration of crypto services providers has been made mandatory, there are chances of crypto being legalized in Ethiopia.

Currently, the use of cryptocurrencies in the said country is illegal. The National Bank of Ethiopia has said that citizens are using crypto despite the ban, so it needs to register services offering companies. Though INSA was abolished after the ban on crypto, it has been reestablished after the new changes. The new changes will also bring a set of regulations for crypto-related companies.   

Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.

BTC lowers to $19K

Bitcoin outflows have continued to increase due to bearishness. The latest data shows that the outflows have topped $1 billion. In comparison, net inflows for Ethereum have remained increasing. Bitcoin risks have reached their worse since September 2015.

The recent data shows Bitcoin value has continued to decline. The latest data shows a loss of 0.96% over the last 24 hours. The weekly data shows a loss of 6.81% for Bitcoin.

The price value for Bitcoin is in the $19,968.14 range. The market cap value for BTC is estimated to be $382,009,695,023. The 24-hour trading volume of Bitcoin is about $25,692,658,354.

BNB still in losses

Binance has plans to halt Ethereum deposits and withdrawals during the Ethereum merge. The halt will come into effect for ETH and ERC. While Binance has also locked a $1 million corporate account after a request from law enforcement agencies. The account belongs to a Tezos tool contributor.

The value of the Binance Coin has continued to recede due to bearishness. The latest data shows that it has lost 1.45% over the last 24 hours. The weekly data shows that it has regressed by 5.68%.

The price value for BNB is in the $278.49 range. The market cap value for this coin is estimated to be $44,930,431,844. The 24-hour trading volume of this coin is about $847,516,359.

EGLD continues to decline

Elrond has also seen a continuation of losses due to dominant bearishness. The latest data shows that it has depreciated 1.86% over the last 24 hours. The weekly data shows that the losses are about 3.67%. The changes in the market have brought its price value to the $51.83 range.

The market cap value for EGLD is estimated to be $1,195,063,866. The 24-hour trading volume of this coin is about $29,095,352. The same amount in its native currency is about 561,476 EGLD.

QNT in lows

Quant has also been lowering value due to losses. The latest data shows that it has regressed 2.75% over the last 24 hours. The weekly data shows that its losses amount to 14.61%. The bearish changes in the market have brought its price value to the $96.26 range.

The market cap value for QNT is estimated to be $1,163,252,041. The 24-hour trading volume of this coin is about $29,650,943. The circulating supply of the same coin is about 12,072,738 QNT.

Final Thoughts

The global crypto market has continued to recede in value due to a strong bearish pull. The latest data shows that the losses for Bitcoin, Binance Coin, etc. have increased. As the negative trend continues the investors have continued to see losses. The global market cap value has also remained recessive. The latest data shows that it is currently estimated to be $963.84 billion.