The global crypto market has continued to consolidate value over recent hours. The latest data shows that the performance of Bitcoin and others has continued to improve. In contrast, the value of Binance Coin has lowered. The fluctuations in the market show that there is a possibility of lowering gains in the coming hours. The bearish trend for some coins in the market might affect the overall market if it continues for longer.
Texas regulator has asked Sam Bankman-Fried to appear at the FTX hearing. The regulator has demanded SBF appear at the hearing to answer claims regarding the company. There have been allegations that FTX US offered unregistered securities products through its yield-bearing service. The notice was made public by the Texas State Security Board. TSSB has scheduled the administrative hearing accusing SBF and FTX of violations.
SBF is no longer running the company as the head and there is a hint that the proceedings be conducted over Zoom. There are multiple agencies on the FTX case, and they will be investigating it for multiple violations. The representatives of these agencies have stated on multiple occasions that they are working on bringing enforcement action to the last resort. These agencies will also be looking into the matter of how the FTX collapse took place.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC unable to cross $17K
BTC prices briefly tapped $17K but couldn’t retain it as analysis warns of inbound risk events. The king coin has faced more than the FTX collapse as the macro data is due and Mt. Gox payouts getting closer.
The recent changes for Bitcoin show the continuation of the positive trend. The latest data shows that it has added 2.33% over the last 24 hours. The weekly performance of Bitcoin shows an addition of 2.03%.
The price value of BTC is currently in the $16,877.31 range. The market cap value of Bitcoin is estimated to be $324,393,941,841. The 24-hour trading volume of Bitcoin is about $24,459,945,365.
BNB recessive
Binance has reentered the Japanese market as it acquired Sakura Exchange. The acquisition of this exchange has resulted in the control of over 75% of the exchanges’ monthly trading volume. The company made the announcement on 30 November regarding the acquisition of SEBC.
The performance of Binance Coin has shown a negative trend as it couldn’t retain gains. The latest data shows that it has shed 1.08% over the last 24 hours. The weekly performance of this coin shows an addition of 0.66%.
The price value of BNB is currently in the $300.02 range. The market cap value of this coin is estimated to be $47,993,782,686. The 24-hour trading volume of the same coin is about $965,023,746.
MATIC continues to grow
The value of Polygon has continued to grow due to the bullish trend. The latest data shows that it has added 3.68% over the last day. The seven-day performance of this coin shows an addition of 0.99%. The price value of MATIC is currently in the $0.8712 range.
The market cap value of Polygon is estimated to be $7,609,444,526. The 24-hour trading volume of this coin is about $273,530,710. The same amount in its native currency is about 313,891,275 MATIC.
SOL lowering gains
Solana has also lowered its gains over the recent hours as the influx of capital decreased. The latest data shows that it has added 0.61% over the last 24 hours. The seven-day performance shows that it has added 3.59%. The price value of SOL is currently in the $13.69 range.
The market cap value of Solana is estimated to be $4,973,453,951. The 24-hour trading volume of this coin is about $264,494,849. The circulating supply of the same coin is about 363,230,295 SOL.
Final Thoughts
The global crypto market has witnessed a positive change over recent hours. The latest data shows that the value of Bitcoin and others has improved. Though there have been fluctuations in the value of various coins, the market is yet bullish. The global market cap value has continued to rise as it is estimated to be $852.35 billion.
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