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  • Daily price analysis of Bitcoin, Ethereum, Phantom and Nexo – November 21 roundup

Daily price analysis of Bitcoin, Ethereum, Phantom and Nexo – November 21 roundup

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  Bitcoin

The global crypto market has experienced a decline in value despite efforts to recover value. Recent changes indicate that there has been no improvement in the value of Bitcoin and Ethereum. In comparison, the following coins have improved significantly due to added value. The market has continued to face problems as major coins are still not able to attract profits. If the two leading coins can absorb profits, it will have a significant impact on the entire market.

The Wall Street Journal has revealed that Binance will not invest in crypto lender Genesis. Despite the lender’s efforts to raise $1 billion as an emergency, Binance has clearly said no. The reason given by Binance for rejecting this deal is apparently a conflict of interest based on the models of the two companies. The lender has suspended customer redemptions and is seeking respite in the form of an emergency loan.

Genesis has also supported Apollo Global Management. Struggles for this company began after the collapse of FTX. Investors sought withdrawals from its affiliated exchange Gemini, which affected its trading. Genesis is still weighing its options to see what it can do and has not yet decided to file for bankruptcy.

Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and others.

Bitcoin drops to $15.7k

Bitcoin address activity has reached its highest level in six months, indicating a significant change in performance. Stunned Bitcoin may have a lot to show for the coming months, but current statistics suggest that it is resistant to further declines. The over-the-counter offering in the derivatives markets shows that there is still hope for King Coin.

BTCUSD 2022 11 22 07 20 56
Source: TradingView

Bitcoin’s recent changes show that it has encountered red candles. The latest data shows that it has fallen by 1.99% in the last 24 hours. Bitcoin’s weekly performance shows a decline of 5.59%.

BTC price value is currently in the range of $15,794.74. The market value of this coin is estimated at $303,477,477,008. Bitcoin’s 24-hour trading volume is about $36,748,233,655.

Ethereum continues to decline

Coinbase stock has reached its lowest point due to the decline of Bitcoin and Ethereum. The crypto industry is facing problems after the collapse of FTX. On the other hand, ETH continues to see a bearish trend due to the large amount of FTX hacker.

ETHUSDT 2022 11 22 07 21 25
Source: TradingView

The performance of Ethereum has also decreased due to the bearish market. The latest data shows that it fell by 2.04% in the previous day. The weekly performance of this coin shows that it has lost 2.62%.

ETH price value is currently in the range of $1100.01. The market value of this coin is estimated at 134,612,423,245 dollars. The 24-hour trading volume of this coin is about $13,806,190,036.

FTM accelerates

Phantom’s performance has shown a positive trend. The latest data shows that it has increased by 1.66% in the last 24 hours. The weekly performance of this coin shows that it has decreased by 6.88%. FTM price value is currently in the range of $0.1703.

FTMUSDT 2022 11 22 07 21 53
Source: TradingView

The market value of Phantom is estimated at $43,338,452. The 24-hour trading volume of this coin is about $49,860,713. The same amount in its native currency is about 292976288 FTM.

NEXO in profit

Nexo’s value has also improved slightly due to capital inflows. The latest data shows that it has increased by 0.25% in the last 24 hours. The weekly performance of this coin shows that it has lost 5.82%. NEXO price value is currently in the range of $0.6723.

NEXOUSDT 2022 11 22 07 22 39
Source: TradingView

Nexo’s market cap is estimated at $376,489,814. The 24-hour trading volume of this coin is about $9,050,717. The circulating supply of this coin is about 560000011 NEXO.

Final thoughts

The global crypto market has witnessed a decline in value due to adverse conditions. The performance of Bitcoin, Ethereum, etc. continues to suffer. In comparison, some of the following coins are bullish. Constant changes indicate that the market continues to lose value. The global market value has declined as it is currently estimated at $786.59 billion.