Bitcoin, Binance Coin, Axie Infinity, and Flow Daily Price Analyses – 7 May Roundup


The performance of the global crypto market has taken another weird turn as it hasn’t been able to stay stable at a specific point. The changes in its value have been disconcerting for the investors because of the continuing bearishness as seen in case of Bitcoin and Binance Coin. The only difference is short-lasting bullish periods, which keep the market value in a moderate range. As the new bearish wave has affected the market, there has been a considerable decrease in its capital value.

The US has been taking some serious steps regarding curbing those involved in digital sabotage. The recent one in this regard is the bounty offered for information regarding Conti ransomware. It is an organized group that has inflicted severe harm on various financial organizations. Ultimately, the US state department had to come forward to look for a solution. The said department has announced two separate bounties amounting to $1.5 million for those who can identify any information regarding the group. This case might prove an example in the future if it is solved, identifying the culprits.

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

BTC dizzying again

Bitcoin has been facing problems for more than a month now. The short-lasting changes in value have helped it remain bullish after dips, but there has been no lasting encouragement. The new problem came as financial experts expressed their doubts that the Central African Republic’s Bitcoin adoption deal is legitimate. It would have lasting repercussions for Bitcoin.

BTCUSD 2022 05 08 08 09 00
Source: TradingView

The latest data for Bitcoin shows that it has been through steep depreciation as it has shed 3.93%. If we compare the performance of Bitcoin for the last seven days, its losses have increased to 8.80%. As the value of losses has soared, the price has gone in the inverse direction.

The current price value for Bitcoin is in the $34,533.26 range as its value has gone below the $35K range. The market cap value has also been in chaos as it is currently in the $658,179,108,380 range. At the same time, its 24-hour trading volume is about $29,034,806,363.  

BNB in no mood to recovery

Binance Coin had shown a little improvement over the last few days. But the current situation shows that it might not be able to achieve its targets in the coming days. The delay has come due to rising bearishness which has affected its value.

BNBUSDT 2022 05 08 08 09 21
Source: TradingView

The data for the last 24 hours shows that Binance Coin has shed 5.22%. If we compare its performance for the last seven days, the losses are about 5.85%. The latter value shows improvement over the last few days, which has been reversed due to the current bearish wave.

The current change has also affected the price value as it has been reduced to $358.62. In comparison, the market cap value is estimated to be $58,554,683,639. In contrast, its 24-hour trading volume of it is about $1,681,499,268.

AXS stays bullish

Axie Infinity has continued to gain value in the bearish market. It has retained its gains as the amount of addition is about 2.19%. If we compare the weekly performance, it has suffered losses of 4.81%. The price value is in the $28.65 range as it has been through a steep decrease in value.

AXSUSDT 2022 05 08 08 09 46
Source: TradingView

If we look at its market cap value, it has been affected by ongoing bearishness and is about $1,745,284,985. In comparison, its 24-hour trading volume of it is about $261,317,263. The circulating supply of it remained at 60,907,500 AXS.

Flow continues to shed value

Flow is also in losses as it has followed the dominant market pattern. The changes have been depreciating for it as it has suffered a loss amounting to 2.65%. If we compare the weekly losses, these are about 4.43%. The price value is in the $4.30 range and might decrease further.

FLOWUSDT 2022 05 08 08 10 06
Source: TradingView

The market cap value for Flow is estimated to be $1,567,071,962. If we look at the 24-hour trading volume, it is about $68,034,165. The circulating supply for Flow is about 364,061,129 FLOW.

Final Thoughts

After enjoying bullishness for a while, the global crypto market is again back to losses. The change has been discouraging for the investors, as evident from the decrease in the market cap value. Another aspect of it is depreciation of Bitcoin which has impacts on the whole market. The global market cap value is currently estimated to be $1.58T, which is reduced from the $1.60T range. Upcoming days might affect it further if the bearishness continues for the crypto market.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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