The global crypto market continued to face problems even as losses declined. The changes for Bitcoin, Ethereum and others show that there has been a considerable decrease in the amount of losses. The strength of their value is the result of a decrease in inflow and an increase in inflow. As the market continued to move towards positivity, investors found themselves in a favorable position. As the market has turned bullish, this will further strengthen the market.
FTX has offered assistance to Voyager as it faces a difficult situation. As described in the support package, investors will be able to receive a refund on their investments. Sam Bankman-Fried offered a rescue program to Voyager, whose customers can withdraw their funds from FTX. Voyager faced a sharp drop in its capital, thus unable to pay its investors. It halted user transactions on July 1, leaving many in limbo.
According to Sam Bankman-Fried’s proposal, Voyager customers will be offered new accounts on FTX. They can withdraw their money immediately once they open an account in FTX. Although they can also use these funds to trade on FTX. Three companies, namely FTX Trading, West Realm Shires and Alameda Ventures will finance the company.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and a few other altcoins.
BTC remains recessive
Coinbase saw an increase in its nano-Bitcoin futures product. Investors continued to fuel this project which got a boost last week. As the market continues to recover, this project will see a further rise in value.
The latest data shows that Bitcoin has recently pared its losses. The latest data for Bitcoin shows that it has lost 1.97% over the past day. In comparison, the weekly performance shows an addition of 5.79%.
Bitcoin’s price value has also suffered and is currently in the range of $22,433.23. The market capitalization value of Bitcoin is estimated at $428,509,256,541. Bitcoin’s 24-hour trading volume is approximately $24,609,256,211.
ETH blocked by bears
Ethereum has continued to overtake various other coins in the market as it experiences a price thaw. The increase in value has brought him considerable gains and he seems to be overtaking Bitcoin. This may pose serious threats to Bitcoin’s market dominance if growth continues.
The change in the market brought gains to Ethereum reducing its losses. The changes show that it has lost 0.46% over the past day. The weekly performance shows a gain of 16.17%.
The ETH price value is also improving as it is currently around $1,562.47. The market cap value of this coin is estimated at $190,109,142,286. The 24-hour trading volume of this coin is around $15,301,639,394.
FTT continuous red
FTX Token still continued to decline as the inflow is not that strong. The latest data on these coins shows that they have lost 2.73% in the last 24 hours. The weekly performance shows an addition of 2.30%. The price value of the same coin is in the range of $28.61.
If we look at the market cap value for FTT, it is estimated at $3,871,869,205. The 24-hour trading volume for this coin is around $72,535,877. The same amount in its original currency is around 2,535,630 FTT.
LINK is still showing a downtrend
Chainlink also showed a downward trend as the amount of losses is still considerable. The latest data shows that it lost 0.23% over the past day. The weekly performance shows an addition of 6.04%. The price value of this coin has also been affected as it is currently around $3,218,928,477.
The market cap value of LINK is estimated at $3,218,928,477. The 24-hour trading volume of this coin is around $311,506,324. The circulating supply of this coin is approximately 467,099,971 LINK.
The performance of the global crypto market has improved compared to the other day. The amount of losses has decreased significantly. The change led to the improvement of Bitcoin and altcoins. The change helped re-consolidate the value of global market capitalization. It is currently estimated at $1.03 trillion.