Bitcoin, Binance Coin, Cardano, Polkadot Daily Price Analysis – October 10 Morning Prediction
The global crypto market has seen a decline in value due to the bearish trend. The last day brought gains to the market, but it could not keep them. Since the market could not retain its value, the performance of Bitcoin, Binance Coin and others saw a decline. The subsequent changes have also affected the following coins. There is no certainty about how the market is going to perform in the coming hours because it has been behaving abnormally in the last few hours.
Brazilian and US authorities have busted a transnational crypto-fraud ring led by Bitcoin Sheikh. The said ring had defrauded hundreds of citizens in Brazil and other parts of the world. Brazil’s federal police bust Bitcoin Sheikh, believed to have defrauded people and laundered funds worth $766 million. The operation was completed with the help of several LEAs.
An October 6 press release from US Immigration and Customs Enforcement revealed the details of the operation. Curitiba, the fraud ring, was formed as a digital asset investment platform and led by Francisco Valdevino di Silva, also known as the Bitcoin Sheikh. The company committed various crimes, including money laundering, fraud, operating a criminal enterprise and crimes against the domestic financial system.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin and others.
BTC again recessive
MicroStrategy founder and Bitcoin supporter Michael Saylor has said that CBDCs are destined to fail. The reason for the failure of CBDCs is the instability; thus he believes they have little chance of survival. While the difficulty of Bitcoin mining has continued to rise.
The latest changes for Bitcoin show a change in performance. The latest data shows that it has decreased 0.50% in the last 24 hours. The seven-day data shows a gain of 0.58% for Bitcoin.
The price value for Bitcoin is currently in the area of $19,413.03. The market value of Bitcoin is estimated at $372,318,229,667. The 24-hour trading volume for Bitcoin is around $20,824,627,124.
BNB is losing momentum
Binance has suddenly removed HNT (Helium Network Token), causing an outcry among users. While the Helium Foundation’s leader reacted to this action. The Helium COO said that there is no basis for a partial delisting of Helium. These trading pairs are likely to be removed from Binance soon.
The performance of Binance Coin also shows a negative trend. The latest data shows it has decreased 0.74%. The weekly performance shows that it has declined 3.66%, unable to retain gains.
The price value for BNB is currently in the area of $276.09. The market value of this coin is estimated at $44,549,225,904. The 24-hour trading volume for this coin is approximately $623,291,463.
ADA in loss
Cardano has also seen a decline in value due to the bearish trend. The latest data shows that it has decreased 1.41% in the last 24 hours. The weekly performance of this coin shows a loss of 1.74%. The price value for ADA has dropped to the 0.4176 area.
The market value of Cardano is estimated at $14,314,070,266. The 24-hour trading volume for this coin is approximately $385,406,353. The same amount in its original currency is approximately 922,693,291 ADA.
DOT sees a downturn
The value of Polkadot also fell due to the negative trend. The latest data shows that it has decreased by 0.29% in the last 24 hours. The seven-day data shows that it has increased by 1.14%. As the market remained volatile, DOT’s price target fell to $6.39.
The Polkadot market cap is estimated at $7,185,913,457. The 24 hour trading volume for this coin is approximately $184,163,210. The circulating supply of this coin is approximately 1,124,994,231 DOT.
Final thoughts
The performance of the global crypto market has seen a decline. The latest data shows that it has not been able to sustain the bullish trend. The value of Bitcoin, Binance Coin and others have fallen. The global market value also saw a change in value. The latest data shows that it is estimated at 940.27 billion dollars.
