The performance of the global crypto market has continued to face fluctuations. The recent change in the market has brought bearishness for Bitcoin and others. The change in the market has resulted in a dominant trend of losses. The mentioned change was expected because of the evident change for Bitcoin and Ethereum the other day. As the negative changes occur, they will affect the recent gains for the market.
South Korean authorities have decided to postpone crypto taxes until 2025. The official announcement said that the imposition of taxes had been postponed again. According to the official statement, President Yoon Suk-Yeol believes that market growth is primary and taxation secondary. He is working on ensuring that the market infrastructure is in place.
The president believes that taxation is easy to impose once an established market. Analysts expected a 20% capital gain tax to come into effect at the start of 2023. There are various other reasons as well for the delay in tax. The decision to postpone it for two years will help strengthen the market.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and other altcoins.
BTC lowers to $22K
Bitcoin is being used for illegal as well as legal activities. The latest in this regard is the personal data of Chinese citizens available for sale. A hacker named ChinaDan has managed to steal personal data available for 10 BTC. It contains data of about 1 billion Chinese citizens.
The latest data for Bitcoin shows that it has shed 5.60% over the last day. The bearish changes have also affected the weekly performance. The weekly data shows that it has added 8.23%.
The price value for Bitcoin is in the $22,332.35 range and might grow lower. The market cap value for Bitcoin is estimated to be $426,569,333,584. The 24-hour trading volume of BTC is about $30,919,662,103.
BNB facing downtrend
Binance Pay and Bolt Global have joined to work on the Web3 social experiment. According to the official sources, it will provide opportunities to streamers, content creators, and their fans. It will also create opportunities for the use of cryptocurrencies at the core.
The value of BNB has also been affected by the bearish changes in the market. The latest data shows that it has receded 4.99% over the last day. The seven-day performance shows a reduction of gains to 8.69%.
The price value for Binance Coin is in the $256.51 range. If we look at the market cap value for this coin, it is estimated to be $41,383,891,834. The 24-hour trading volume of the same coin is about $1,208,927,984.
NEO facing losses
Neo has also faced a difficult situation as the losses continue. The latest data shows that it has shed 8.13% in a single day. The weekly performance shows an addition of 15.27%. These changes have impacted the price value, which has come down to the $10.21 range.
If we look at the market cap value for NEO, it is estimated to be $720,780,872. The 24-hour trading volume of the same coin is about $100,606,193. The same amount in its native currency is about 9,845,771 NEO.
CHZ turns bearish
The value of Chiliz has also remained recessive as the losses continue. The latest data shows it has shed 4.37% over the last day. The seven-day data shows that it has reduced gains to a mere 1.37%. These changes have brought its price value to $0.1066.
The market cap value for CHZ has also suffered, estimated to be $638,596,847. The 24-hour trading volume of the same coin is about $82,665,789. The circulating supply of this coin is about 6,000,378,771 CHZ.
The global crypto market has faced severe bearishness over the recent day. The changes in the market have deprived various coins of the gains they made recently. The result has been a downtrend for Bitcoin and altcoins. The decrease has also affected the global market cap value. It is currently estimated to be $1.02 trillion.
Read More:Bitcoin, Binance Coin, Neo, and Chiliz Daily Price Analyses – 23 July Morning Price