The global crypto market has seen a trend of decline due to a strong bearish pull. The performance of Bitcoin, Ethereum, and others shows that there has been no improvement. In contrast, there has been a continuous decline in their value. The market has made its best attempts to regain the bullish trend but hasn’t been able to do so. Major events like FTX collapse at the close of the year have also been the reason the investments have lowered.
FTX debtors have urged the Bahamas Commission to explain the crypto value of seized assets. FTX Trading and its debtors have informed the Bahamas Securities and Exchange Commission regarding the right to take the assets of FTX debtors. The detailed statement said that SBF, Gary Wang, Bahamas SEC, etc., didn’t have the right to take crypto assets of the FTX debtors. The statement was issued late Friday.
Later Thursday, the Bahamas SEC announced that it took control of FTX digital assets valued at more than $3.5 billion as of 12 November. The Bahamas SEC took these assets in its custody because of the significant risk of imminent dissipation if they stayed under FTX’s control. The statement didn’t identify the type of assets that were taken into custody. The debtors said that they have evidence of multiple tokens that were in the custody of FTX.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC trading at $16.5K
Bitcoin has been facing one of the worse years since 2018. The value of Bitcoin has ended up 65% lower compared to the start, capping one of the most challenging years since its inception.
The recent changes for Bitcoin show no significant improvement. The latest data shows that it has receded by 0.21% in a day. In comparison, the weekly data shows that it has declined by 1.52%.
The price value of BTC is currently in the $16,579.64 range. The market cap value of Bitcoin is estimated to be $319,121,253,566. The 24-hour trading volume of Bitcoin is about $16,136,798,140.
ETH facing fluctuations
Recent research shows that Ethereum’s two-year peak dominance over Bitcoin hasn’t translated into new ATH. BTC might be worth more than ETH, but available Glassnode data shows that the latter has peak dominance over the prior.
The performance of Ethereum has also shown a negative trend. The latest data shows that it has shed 0.15% over the recent hours. The seven-day performance shows that it has shed 1.72%.
The price value of ETH is currently in the $1,197.23 range. The market cap value of this coin is estimated to be $146,509,195,083. The 24-hour trading volume of the same coin is about $4,082,685,885.
APE in losses
ApeCoin has also been in losses due to the market’s bearishness. The latest data shows that it has shed 0.84% in a day. The weekly data shows that it has declined by 0.37%. The price value of APE is currently in the $3.61 range.
The market cap value of ApeCoin is estimated to be $1,303,791,365. The 24-hour trading volume of this coin is about $69,698,739. The same amount in its native currency is about 19,341,215 APE.
ALGO stays bullish
Algorand has stayed bullish as it continued to attract the influx of capital. The latest data shows that it has added 2.65% over the last day. The seven-day data shows that it has shed 0.86%. The price value of ALGO is currently in the $0.1688 range.
The market cap value of Algorand is estimated to be $1,204,674,880. The 24-hour trading volume of this coin is about $41,976,220. The circulating supply of the same coin is about 7,137,910,185 ALGO.
Final Thoughts
The global crypto market has seen a continuation of the negative trend. The latest data shows that Bitcoin, Ethereum, and others have seen no positive change. While the negative changes have continued, affecting the individual coins’ performance. As the overall market continues to be negative, there has been an impact on the overall market value. The global market cap value is estimated to be $795.07 billion, and it might lower even further.
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 decision.
