Bitcoin, Binance Coin, Fantom, and Quant Daily Price Analyses – 2 June Roundup


The losses for the global crypto market have continued without any major change. Bitcoin and other coins in the market showed continuous recession as they didn’t improve. The market has remained bearish for the second day after it couldn’t continue bullish. The changes have brought it considerable losses as it lowered value visibly. The changes might continue because the global economy hasn’t improved. The repercussions of global issues will continue to impact the crypto market.

Russia is expected to enact tough crypto laws in the coming days. Though the Russian Central Bank had opposed a tough approach to crypto, authorities have remained opposed to it. The complete details of the legislation are not yet known, but sources tell us it would be harder on crypto payments. Reasons for this much toughness might be the crypto payments sent out of Russia during the extended period of the Russia-Ukraine war.

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

BTC stays recessive

Bitcoin has remained the center of the crypto business because of its crucial role. According to the latest updates available, Bitcoin miners have begun to sell their Bitcoin holdings in the open market. The reason for the sell-off is the lowering Bitcoin value. The price value will react negatively to these sell-offs if they continue.

BTCUSD 2022 06 02 17 50 08
Source: TradingView

The latest data for Bitcoin shows that it has shed 5.18% over the last 24 hours. If we compare the performance for the last seven days, it shows a gain of 4.27%. The increasing tendency on the side of the latter shows consolidation efforts.

The price value for Bitcoin is in the $30,097.50 range. The market cap value for Bitcoin is estimated to be $573,544,187,578. The 24-hour trading volume of this coin is about $42,231,426,752.

BNB attempting recovery

Binance‘s CEO has said that the current price drop for the crypto market has been part of the usual market fluctuations and is not a big deal. Changpeng Zhao said this one Thursday as he was asked about the drop in the price value of various coins due to the bearish market.

BNBUSDT 2022 06 02 17 50 36
Source: TradingView

Binance Coin hasn’t been able to revive as its losses for the last 24 hours remained 4.55%. It has shed 1.21% over the last seven days. BNB, like BTC, has shown some resilience on the later value.

The price value for BNB is in the $303.71 range. If we compare the market cap value for this coin, it is estimated to be $49,636,279,940. The 24-hour trading volume of this coin is about $1,610,682,690.

FTM is moving in the positive direction

Fantom has been able to lower the amount of losses. For the last 24 hours, its data shows the recession reduced to 7.38%. The seven-day data shows that it has added 1.54%. The value of Fantom saw a continuous decline after the market wasn’t able to maintain bullishness.

FTMUSDT 2022 06 02 17 51 07
Source: TradingView

The price value for FTM is in the $0.3695 range. If we compare the market cap value, it is estimated to be $941,885,806. The 24-hour trading volume for this coin is about $295,118,873. The same amount in its native currency is about 716,359,872 FTM.  

QNT is still in the lows

Quant still hasn’t been able to regain value as its losses persist. The data for the last 24 hours shows that it has shed 7.03% over the last 24 hours. Its performance for the last seven days shows an addition of 3.97%. Thus, if bullishness returns in the shorter while, it will be able to take off easily.

QNTUSDT 2022 06 02 17 51 31
Source: TradingView

The price value for QNT is in the $66.77 range. If we compare the market cap value for this coin, it is estimated to be $803,573,751. The 24-hour trading volume for the same coin is about $51,303,260. The circulating supply for it is about 12,072,738 QNT.

Final Thoughts

The global crypto market has continued to face problems due to recessive bouts in the global economy. The problems that the US and other major economies have faced have resulted in the impacts on different markets, of which crypto is no exclusion. The global market cap value shows that it has been reduced to $1.24T and might reduce further. If the losses persist, the market cap value will go below the $1.20T level. 

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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