The global crypto market has seen no change in performance as it has continued to see a negative trend. The recent changes for Bitcoin and Ethereum suggest positive change while the rest of the market has performed bearish. As the market continues in uncertainty, the trend of losses might continue. The market has continued to face difficulties in the Q4 of 2022 as in the previous quarters. These changes suggest that 2022 will likely close on a bearish note for the crypto market.
The Prime Trust dispute was settled while the fee examiner was appointed at the Celsius hearing. The bankruptcy court has resumed hearing to look at the possible auction options. Celsius has submitted proposals regarding bidding procedures, and there is a chance that the process will be completed at the close of the year. The court has appointed a fee examiner to see how much it costs the state to retain professionals.
Prime Trust has solved its issue by agreeing to send about $17 million in crypto that Celsius says it owed. The lawyers for Celsius have revised the process multiple times based on the question of which assets constitute custody in comparison to other products. The lawyers have raised the question of scarcity of funds which might not end up in the hands of creditors if the bankruptcy process lengthens.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC regains momentum
Fidelity Digital Assets has shared bullish thoughts regarding Bitcoin amid the rising dollar. According to available updates, Fidelity Investments has released a research document, The Rising Dollar and Bitcoin, that takes a bullish view of Bitcoin.
The recent changes for Bitcoin show a change in a negative trend. The latest data shows that it has added 0.19% over the last day. The weekly performance of Bitcoin shows that it has shed 3.54% due to the negative trend.
The change in performance has brought BTC’s price value to the $19,097.75 range. The market cap value for Bitcoin is estimated to be $366,094,549,853. The 24-hour trading volume of Bitcoin is about $23,640,405,301.
ETH in gains
Fidelity Digital Assets has announced that it will support Ethereum trading for institutions. Fidelity Digital Assets will start providing support for Ethereum trading at the institutional level at the end of the month. The news has come as a fresh hope for the lagging crypto market.
The performance of Ethereum also improved as a result of the positive changes. The recent data for this coin shows an addition of 0.67%. The weekly data shows that it has shed 3.06%.
The price value for ETH is currently in the $1,289.48 range. The market cap value for this coin is estimated to be $157,533,916,348. The 24-hour trading volume of this coin is about $8,633,462,792.
FTT still recessive
FTX Token has continued to be recessive due to the negative trend. The latest data shows it has shed 0.29% over the last 24 hours. The weekly data for this coin shows a loss of 6.30%. The ongoing changes have brought the price value of FTT to the $22.47 range.
The market cap value for FTX Token is estimated to be $2,993,279,089. The 24-hour trading volume of this coin is about $41,316,936. The same amount in its native currency is about 1,840,983 FTT.
XMR in losses
The value of Monero has continued to lower due to constant decline. The latest data shows that it has regressed by 1.61% over the last day. The seven-day data for this coin shows a loss of 1.85%. The negative trend has brought XMR price value to the $142.44 range.
The market cap value for Monero is estimated to be $2,590,713,932. The 24-hour trading volume of this coin is about $91,961,441. The circulating supply of this coin is about 18,189,985.
Final Thoughts
The global crypto market has seen no escape from the negative changes. The recent data for Bitcoin, Ethereum, and others show a continuation of the negative trend. The ongoing changes have deprived the market of significant value. The global market cap value has also remained in losses due to these changes. The latest data shows that it is estimated to be $913.97 billion.
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