Bitcoin, Ethereum, Tron, and Near Protocol Daily Price Analyses – 9 May Morning Price Prediction

The performance of the global crypto market has seen no improvement as the downward journey continues. The freefall situation has affected all the major coins of the market, including Bitcoin, Ethereum, and other significant names. The sweeping change has affected these coins without providing any chance to improve. The consistent negative changes have affected the influx of capital because no investor wants to purchase dips that offer little optimism. The market had faced a similar situation at the start of the Russian invasion of Ukraine, and it seems to be the second wave of that situation.

The performance of the global crypto market has affected various aspects of it. The latest in this regard is the shutting down of various crypto channels on YouTube. The change has come in a period when the global crypto market has suffered huge setbacks in value. There might be several reasons for their ban, but some analysts have translated it as an end to free speech. Though some readers might agree with it, the losses for investors are also considerable and should be recognized. Some crypto channels made predictions far from real and affected the customers.

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

BTC receding unrestrained

The continuous losses for crypto have affected Bitcoin’s capital influx. As a result of these changes, the overall crypto market has suffered. The increase in interest rates in the US has led to a fall in Bitcoin value, and it has continued. The fall in the value of Bitcoin has reached a year-low and might continue further.

The latest data for Bitcoin shows that it has shed 5.37% over the last 24 hours. If we compare the losses for the last seven days, they have seen a rise in value and are about 14.43%. The change in situation has affected the overall market as Bitcoin price directly impacts other coins.

The price value for Bitcoin is in the $32,932.38 range. If we compare the market cap value for Bitcoin, it is estimated to be $626,868,611,773. In contrast, its 24-hour trading volume of it is about $43,592,033,372.

ETH is unable to recover

Analysts believe that Ethereum’s planned merge is affecting it badly. The price value for Ethereum has changed drastically, and they attribute it to this factor as well. Ethereum has planned to shift to a proof-of-stake model, and it has had a huge impact on its indicators. The outward flow pressure has mounted, and it is affecting it further.

The latest data for Ethereum shows that it has shed 6.84% over the last 24 hours. If we compare the losses for the last seven days, they are even higher as Ethereum has shed 14.53%. The changes have continued to affect the price value as well.

The current price value for Ethereum is in the $2,396.50 range. If we compare the market cap value, it is estimated to be $289,292,763,180. The 24-hour trading volume for Ethereum remained $24,306,995,230.

TRX joins the recessive club

Tron has also joined the recessive club as the indicators show bearishness. The latest data for Tron shows that it has shed 6.29%. If we compare the weekly performance, its losses have affected its bullish progress as it is currently about 11.67%. The price value for Tron has been reduced to $0.07826 as per the latest updates.

If we take a peek at the market cap value for Tron, it is estimated to be $7,758,284,087. In contrast, its 24-hour trading volume of it is about $2,922,676,549. The same amount in its native currency is about 37,125,912,202 TRX.

NEAR continues to grow

Near Protocol has continued its positive progress as its gains have increased. The latest data shows that it has gained 4.81% over the last 24 hours. The seven-day performance for NEAR has also entered a bullish phase as the amount of the gain to 0.09%. The price value has also moved in tandem, which is currently about $0.7826.

If we look at the market cap value, it is estimated to be $7,610,874,168. If we compare the 24-hour trading volume for NEAR, it is about $1,315,842,082. The circulating supply for this coin remained 680,330,254 NEAR.

Final Thoughts

The global crypto market is receding faster, affecting the influx of funds. The recession of Bitcoin to $32K has brought the market to an alarming level. Further decrease in the value might result in a huge efflux of funds, bringing the market to a crash. Though there are hopes for improving the market, the current global market cap value suggests strengthening bearishness as it is about $1.51T. Further decrease in the value of the market might have harsh implications for the market.