The Collapse Of FTX: Cryptocurrencies Continuously Slipping, Prices Including Bitcoin Decreased
The collapse of FTX: cryptocurrencies were continuously slipping, and their prices including Bitcoin decreased, now what is today’s price.
The bearish phase continues in the world’s cryptocurrency market. Bitcoin price has seen a decline on Friday and it has fallen by 1.55 percent to $16,419 in the last 24 hours.
At the same time, the price of the world’s second-largest cryptocurrency Ethereum has also fallen by 2.11 percent to $ 1,176 in the last 24 hours.
Nia’s third largest cryptocurrency BNB has a change of 0.82 percent and the price is running around $296.
At the same time, the price of Dose Coin has fallen by 1.45 percent to $0.0813. The price of XRP has increased by 4.30 percent to reach $0.39.
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The Collapse Of FTX: Decreasing business in cryptocurrency.
According to Coin Market Cap, the total value of the world’s total cryptocurrency market has fallen by 1.47 percent to $824.71 billion in the last 24 hours.
During this period, the volume of the crypto market has also fallen by 22.64 percent to $ 47.32 billion.
At the same time, the volume of all stablecoins has increased to about $ 44.33 billion, which is 93.68 percent of the total market volume in the last 24 hours.
Pressure on these cryptocurrencies too.
Tether, Terra, Stellar, Polkadot, Solana, Uniswap, Appcoin, Tron, Polygon, XRP, Cardano, Chainlink, and Litecoin are also seeing a decline in price.
Investors’ confidence was shaken after FTX.
Investor confidence in cryptocurrencies seems to be waning after FTX, one of the world’s largest crypto exchanges, filed for bankruptcy in the US.
Grayscale Bitcoin Trust, the world’s largest bitcoin fund, declined 7 percent on Wednesday.
Companies not giving relief in petro prices due to softening of crude, crude became cheaper by 23 percent as compared to June
The situation that is developing at the international level indicates that there may be a trend of further decline in crude oil prices in the coming days.
The biggest reason is that the manufacturing activities in economically prosperous countries including America, and China are slowing down due to the global recession.
Due to this, the demand for crude is showing signs of decreasing.
The second reason is that from November 05, 2022, a limit is to be set on the prices of Russian crude by the US and its partner-friendly countries.
How much this limit will be, has not been disclosed yet, but it is estimated in the market that this price will be below $ 70 per barrel.
