Bitcoin, Binance Coin, Terra LUNA, and Polkadot Daily Price Analyses – 2 May Roundup

The global crypto market has shown a bearish trend as most of the coins in the market are going through a difficult situation. There has been a clear bifurcation of the market as some coins are following Bitcoin while others are in a bullish mood. The change in the current situation has brought uncertainty because of the no clear indication of what would be the market direction in the coming days. The first day of the market came to a close on a bearish note, while the rest is yet to be seen.

Cryptocurrency lobbies are working on finding a solution to the growing sanctions which have affected the Russian oligarchs. As the situation of the Russia-Ukraine conflict deteriorated, there has been a tightening seen in the sanctions to allow them to play their part in growing crypto. The change has been for the market, which suffered great setbacks due to a continuous decrease in value. These lobbies have continued to put their efforts against those bills which have continued to target these oligarchs. If this discrimination comes to an end, there might be an effective change in the market.

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

BTC in reversal

Bitcoin bears have continued to dominate the scene as the market has been going through a difficult situation. The changes for Bitcoin haven’t been positive as it has receded on the first day of the business week. The recessive trend comes amid the fears that fed rates might see a hike in value.

The data for the last 24 hours show that Bitcoin has lost the momentum it gained recently. The change has affected its value, shedding 0.33% over the last 24 hours. If we compare its performance for the last seven days, it has been forced to shed 4.97%. The price value has likely been in limbo, unable to increase.

The current price value for Bitcoin is in the $38,538.39 range. If we compare the market cap value of Bitcoin, it is estimated to be $733,351,657,963. In comparison, its 24-hour trading volume of it is about $32,437,434,445.  

BNB stays bullish

Binance Coin has been moving in contrast to Bitcoin as it has retained its bullishness. The continuous increase in the value has kept Binance Coin in a stable range. In comparison, the value of other coins is in a continuous recession which is not a good omen for the investors.

The data for the last 24 hours shows that Binance Coin has added 0.17% over the last 24 hours. If we look at the value of the gains, it has been lower than the bullish wave’s start. Still, it has maintained the wave. The data for the past seven days shows that it has shed 3.16%.

If we look at the current price value for Binance Coin, it is in the $391.20 range. In comparison, the 24-hour trading volume of Binance Coin is about $63,873,789,528. While its 24-hour trading volume of it is about $1,342,183,550.

LUNA continues to grow

Terra LUNA has also been in a bullish mood like Binance Coin. For the last 24 hours, its performance shows that it has added 2.46%. In comparison, the past seven days remained bearish for it, making it shed 11.65%. The latter has been a big blow to its price value and other growth indicators.

The current price value for Terra LUNA is in the $84.94 range. In comparison, the 24-hour trading volume of Terra is about $1,913,976,914. While the market cap value for it is estimated to be $29,215,191,779. The circulating supply for this coin is 343,947,501 LUNA as per the latest updates.

DOT remains bearish

Polkadot has been bearish as the changes in the market have brought it sell-offs. The change in the market situation has led to a loss of 1.54% over the last 24 hours. If we compare its performance over the last seven days, the change has brought it a loss of 15.88%. The same changes might follow in the coming days as well.

The current price value for Polkadot is in the $15.17 range. If we compare the market cap value, it is estimated to be $14,977,562,426. While the 24-hour trading volume of Polkadot was also reduced. It is about $661,798,123 for the last 24 hours. The same amount in its native currency is about 43,637,150 DOT.

Final Thoughts

The global crypto market hasn’t been able to maintain a healthy momentum. Though it was continuing in a good manner, bringing new gains, it hasn’t been able to retain it. Thus, negative changes followed for Bitcoin and other currencies, affecting the global market cap value, currently about $1.74T. Further losses might affect it as sell-offs reduced the value of gains.