Bitcoin, Ethereum, VeChain, and Filecoin Daily Price Analyses – 1 October Roundup

The performance of the global crypto market has continued to fluctuate. The recent changes in the value of Bitcoin, Ethereum, and others show uncertainty. As this situation remains unsure, there is little addition to the value of the market. There were small gains to the market, but it couldn’t retain the momentum, resulting in losses. Though the worth of losses is comparatively small, they have prevented the market from growing in value. As this situation of uncertainty persists, the market will likely shed value.

An Indian law enforcement agency has confiscated $1.2 million in a scam. India’s financial watchdog, Enforcement Directorate, has investigated a fraud scheme relying on an app-based token, HPZ. The official press release said that several apps offered the users to buy HPZ tokens for higher returns. The investigations revealed that Chinese entities were behind this scam. Recent years have brought many fraudsters to the cryptocurrency market, affecting its overall credibility.

The increased fraud and scam activities have led to increased activity from law enforcement agencies across the globe. According to ED, the FIR was filed in October 2021 in the Cyber Police Station of Kohima, Nagaland. The complainants cited losses of hard-earned money due to HPZ token app as it couldn’t fulfill its promises of returns on investments.

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

BTC static

Bitcoin price has continued to experiment with new changes. Despite fluctuations in value, El Salvador’s president Nayeb Bukele has continued to be a Bitcoin adherent. In an op-ed, Bukele stated that many countries would follow their model if their Bitcoin experiment succeeded. El Salvador became the first country in September 2021 to make Bitcoin legal tender.

The performance of Bitcoin has continued to show uncertainty. The latest data shows it has shed 0.39% over the last 24 hours. In comparison, the weekly data shows a gain of 1.98%.

The price value for BTC is currently in the $19,334.55 range. The market cap value for Bitcoin is estimated to be $370,624,880,950. The 24-hour trading volume of this coin is about $18,239,974,164.

ETH continues red

Germany’s telecom operator Deutsche Telekom has rolled out Ethereum validator node, staking support. Deutsche Telekom is the latest institution to offer Ethereum staking services to its customers. The transition of Ethereum from Proof of Work to Proof of Stake has created opportunities for those interested in staking.

The performance of Ethereum has also shown lag due to uncertainty in the market. The latest data shows that it has receded 1.40% over the last day. In comparison, the seven-day data shows a loss of 0.72%.

The price value for ETH is currently in the $1,311.66 range. The market cap value for this coin is estimated to be $160,827,816,291. The 24-hour trading volume of this coin is about $6,188,029,968.  

VET in gains

The performance of VeChain has shown an enhancement. The latest data shows that it has added 1.11% over the last day. In comparison, the weekly data shows an addition of 2.22%. The price value for VET is currently in the $0.02347 range.

The market cap value for VET is estimated to be $1,702,172,856. The 24-hour trading volume of this coin is about $45,518,545. The same amount in its native currency is about 1,939,052,102 VET.

FIL recessive

The value of Filecoin has receded due to a negative trend in the market. The latest data shows it has shed 2.50% over the last day. The weekly data shows a loss of 1.08% for this coin. The price value for FIL is currently in the $5.54 range.

The market cap value for Filecoin is estimated to be $1,621,803,130. The 24-hour trading volume of this coin is about $118,526,234. The circulating supply of this coin is about 292,519,642 FIL.

Final Thoughts

The global crypto market has seen yet another fluctuation in value. The recent changes show that it has seen a negative trend for Bitcoin, Ethereum, and others. As the negative trend continues, the value of the market has been affected. The latest changes show that the global market cap value is currently in the $936.46 billion range.