The global crypto market has seen a positive trend over the last day as gains continued. The recent changes for Bitcoin, Binance Coin, and others show a positive trend. The current performance of the market shows an optimistic performance. Though the market has continued to face a stressful situation, it has shown resilience. If the bullish trend continues, the value of the investor gains is likely to continue.
A recent report has disclosed that the Gemini exchange owed nearly $1 billion by Genesis. The Gemini fund crisis could worsen considering the liquidity crunch faced by Barry Silbert’s company Digital Currency Group. Gemini exchange seems to be the latest victim of the contagion from the FTX collapse as the market has faced turbulence. Earlier, crypto lender BlockFi had filed an application for Chapter 11 bankruptcy owing to the impacts of the meltdown caused by the FTX collapse.
As the latest reports unveiled that the crypto exchange Gemini might face a big crisis as it would have to pay nearly $1 billion. The Winklevoss brothers are trying to recover funds but troubles continue to unravel. The report from Financial Times shows that the crypto exchange has constituted a creditors’ committee that is responsible for the recovery of the user funds. There are speculations about the potential bankruptcy of Genesis, but it is working on restructuring which can avoid the collapse.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC stuck at $16.9K
Bitcoin miner outflow ratio has hit a six-month high in a new threat to BTC price. Bitcoin miners are upping sales but BTC price metrics hint that a relief rally could be next.
The recent changes for Bitcoin show the continuation of the bullish trend. The latest data shows that it has added 0.42% over the last 24 hours. The seven-day data shows that it has added 2.19%.
The price value of BTC is currently in the $16,966.86 range. The market cap value of Bitcoin is estimated to be $326,159,381,505. The 24-hour trading volume of Bitcoin is about $16,461,274,245.
BNB stays bullish
Hooked Protocol (HOOK) has started trading on Binance, which has resulted in its price rise of a whooping 2000%. There is access to four trading pairs of HOOK which can be availed by the investors.
The performance of Binance Coin has also shown a positive trend as the influx of capital continues. The latest data shows that it has added 0.81% over the last day. The seven-day data shows that it has shed 7.47%.
The price value of BNB is currently in the $291.45 range. The market cap value of this coin is estimated to be $46,622,529,497. The 24-hour trading volume of the same coin is about $688,489,982.
SHIB continues to grow
The performance of Shiba Inu also shows a trend of continuous improvement. The latest data shows that it has added 1.78% over the last day. The seven-day data shows that it has added 0.83%. The price value of SHIB is currently in the $0.000009363 range.
The market cap value of Shiba Inu is estimated to be $5,141,048,902. The 24-hour trading volume of this coin is about $102,105,173. The same amount in its native currency is about 10,900,312,786,367 SHIB.
TRX turns bearish
Tron has been moving in contrast to other coins in the market as it turned bearish. The latest data shows that it has shed 0.24% over the last day. The seven-day data shows that it has added 1.20%. The price value of TRX is currently in the $0.05403 range.
The market cap value of Tron is estimated to be $4,977,580,260. The 24-hour trading volume of this coin is about $156,754,074. The circulating supply of the same coin is about 92,127,152,378 TRX.
The global crypto market has witnessed a positive change as it continued to grow. The recent changes for Bitcoin, Binance Coin, and others show a continuous rise in value. As the market has continued to strengthen due to the influx of capital, it is likely to attract further investments. Even though there are difficulties due to the collapse of major companies, the global market cap value is estimated to be $855.12 billion.