The global crypto market has faced a decrease in value over the past day. There has been no positive development in the value of Bitcoin, Binance Coin and others. As the market has continued to decline, investments have fallen sharply. Capital inflows have decreased, which has negatively affected investors’ profits. As the recession continues, there are fears of another crash that could weigh on the market further.
Japanese subsidiary FTX plans to resume harvesting by the end of the year. Japanese broadcaster NHK revealed the news of the resumption of filming. Withdrawals cannot be resumed at this time as the Japanese subsidiary uses the same system as the parent company. The country’s financial authority had issued an order to suspend withdrawals on November 10. The company is developing its system to ensure that withdrawals are possible.
The Japanese subsidiary of FTX has a capital of about 138 million dollars. While the parent company owes about 3.1 billion dollars to its creditors. As a result of this amount of debt, it may be forced to sell its subsidiaries, including Japan’s FTX. While FTX Japan is not the only subsidiary that is facing problems due to the collapse of the parent company.
Here is a short overview of the current state of the market, analyzing the performance of Bitcoin, Binance Coin and others.
Bitcoin drops to $16.1k
The fallout from FTX has continued for Bitcoin as it failed to improve its value. The recent conversion of ETH to Bitcoin has raised suspicions as FTX dumping funds continue to move. The continued uncertainty is the reason why Bitcoin has not been able to improve its value.
Recent changes indicate the continuation of the decline in the value of Bitcoin. The latest data shows that it has fallen by 2.30% in the last 24 hours. Bitcoin’s weekly performance shows a decline of 4.74%.
BTC price value is currently in the range of $16,169.05. The market cap of Bitcoin is estimated at $310,661,438,061. Bitcoin’s 24-hour trading volume is about $29,722,776,162.
BNB remains defeated
Binance has moved into the hardware industry as part of its network expansion plan. The new investment details indicate that the company is moving into the hardware wallet industry. The company made a strategic investment in Belgian hardware company Ngrave.
The performance of Binance Coin also does not show positive progress. The latest data shows that it has fallen by 3.05% in the last 24 hours. The weekly performance of this coin shows that it has decreased by 9.44%.
BNB price value is currently in the range of $260.39 as it continues to decline. The market value of this coin is estimated at $41,656,049,645. The 24-hour trading volume of this coin is about $944,216,152.
LTC continues to be in the red
Litecoin’s performance has also shown red candles as it remains bearish. The latest data shows that it fell by 1.73% in the previous day. The weekly performance of this coin shows that it has increased by 3.89%. Recent volatility has pushed the LTC price to the $60.67 range.
The Litecoin market cap is estimated at $4,347,547,323. The 24-hour trading volume of this coin is about $759,974,640. The same amount in its native currency is about 12586016 LTC.
AVAX in loss
Bahman has also been declining during the past day. The latest data shows that it has fallen by 5.76% in the last 24 hours. The seven-day performance of this coin shows that it has lost 11.19%. AVAX price value is currently in the range of $11.98.
The market value of Avalanche is estimated at $3,600,185,424. The 24-hour trading volume of this coin is about $156,410,313. The circulating supply of this coin is about 300,614,108 Avax.
The global crypto market has continued to face problems. Recent data shows that Bitcoin, Binance Coin and others have not grown in value. As the downward trend of the market continues, the amount of sales has increased. Global market value has also been affected. The latest data shows that it is estimated to be $799.71 billion.