Bitcoin, Binance Coin, Elrond, and Quant Daily Price Analyses – 10 September Morning Price Prediction
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The global crypto market has seen a performance shift. Recent data shows a downward trend for various coins. The amount of Bitcoin, Binance Coin and other profits decreased significantly. The following brands turned their performance bearish. If the current situation continues, there is a possibility that the market will go into losses again. The recent changes have come after a long time, and if they do not continue, investors will be discouraged.
Elon Musk has warned about the serious situation of the US economy, which he says is heading towards deflation. Musk said that rate hikes by the Federal Reserve would lead to deflation. His warning came ahead of the jumbo hike after the September FOMC meeting. If the US economy sees a big change, it will have lasting effects on the global crypto market.
Big names like Michael Burry have also predicted a 2008-level economic crisis in the United States. At the same time, Peter Schiff has warned of hyperinflation. There are many reasons for market deflation, and Musk has warned about them. Musk said the risk of deflation comes from a shrinking money supply.
Here’s a quick look at the current market situation, analyzing the performance of Bitcoin, Binance Coin and others.
BTC continues to rise
MicroStrategy has announced that it will sell $500 million of its stock to buy more Bitcoin. Even though the value of Bitcoin dropped significantly, MicroStrategy has kept up with Bitcoin’s rise. The decision to buy BTC may help it improve its business if the ongoing gains continue.
Bitcoin’s recent moves show that gains are slowing. The latest data shows an increase of 1.10% in the last 24 hours. Weekly data shows an increase of 7.11% for Bitcoin.
The price value of Bitcoin is currently in the region of $21,262.35. The market cap of Bitcoin is estimated to be $408,116,814,049. The 24 hour trading volume of this coin is approximately $41,109,370,282.
BNB in profits
Bank of America has said that Binance will benefit from the rise of its own stablecoin. BAC has also clarified that the automatic conversion of other stablecoins may affect Binance’s business. The following days will show the clear effects of the giant’s decision.
The development of Binance Coin has also shown a slowdown. The latest data shows an increase of 0.88 percent in the last 24 hours. Weekly data shows its rise of 6.55 percent.
The price value of BNB is currently in the $294.50 range. This coin has an estimated market cap of $47,513,130,842. The 24 hour trading volume for this coin is around $937,123,508.
Elrond’s value has also decreased due to the recession. According to the latest data, it has fallen by 1.27% in the last 24 hours. In comparison, the weekly data shows an increase of 3.10 percent. EGLD’s price value is currently in the $53.74 range.
Elrond’s market value is estimated at $1,246,045,935. The 24-hour trading volume for this token is approximately $53,083,893. The same amount in its original currency is approximately 984,809 EGLD.
QNT is losing momentum
The value of Quant has also decreased due to the downward trend in the market. The latest data for this token shows a loss of 3.82%. Weekly data for this token shows that it has risen by 9.68%. Quant’s price value is estimated at $102.70.
Quant’s market cap is estimated at $1,242,242,175. The 24-hour trading volume for this token is approximately $22,862,418. This token has a circulating supply of approximately 22,862,416.
The global crypto market has seen a decline in value with a negative trend. The latest data shows that Bitcoin, Binance Coin and some others have slowed their gains. While the following have become declining. If the negative changes continue, the global market value can also be affected. According to the latest data, it is estimated at $1.05 trillion.