Bitcoin fell almost 1.5% to $16,800 due to the FTX failure, which caused market chaos and a sentiment of risk appetite. Ethereum, the second most valuable cryptocurrency, gained more than 1.5% to trade at $1264.
Major cryptocurrencies traded in the negative, early on Nov. 13, as the global cryptocurrency market capitalization fell 2% the previous day to $855 billion. In the last 24 hours, the total cryptocurrency market volume fell 33% to $96.72 billion.
Total DeFi volume was $4.46 billion, which is 4.5 of the total 24-hour volume in the cryptocurrency market. The combined volume of all stablecoins was $91.30 billion, accounting for 94.40 percent of the total 24-hour volume of the cryptocurrency market.
Bitcoin, Ethereum and Other Cryptocurrencies: What Has Happened
Three of the top 100 coins that have gained value in the last 24 hours are Chain (XCN), GMX (GMX), and Bitcoin SV (BSV). XCN rallied more than 6% to $36.23, GMX gained more than 6% to $36.20, and BSV gained nearly 3.5%.
FTX Token (FTT) lost more than 30% of its value in the last 24 hours and more than 90% in seven days to trade at $2.26. ImmutableX (IMX) and Maker (MKR) fell more than 13% to $0.4108 and $709, respectively.
Bitcoin is consolidating in a wide trading range of $18,000 to 16,000 marks and a breakout will determine future price action.
Ethereum rallied 1% in the previous 24 hours to $1,262. On CoinMarketCap, it now ranks second, with a real-time market capitalization of $154 billion.
FTX Download 90% in Seven Days
The current price of the FTX token is $2.35 and the 24-hour trading volume is $617 million. In the last 24 hours, the FTX token has fallen by 30%. With a real-time market capitalization of $312 million, CoinMarketCap now ranks 92nd. There are 133,025,776 FTT coins in circulation, with a maximum reserve of 352,170,015 FTT coins.
After an unprecedented week of corporate drama that rocked cryptocurrency markets, sent shockwaves through an industry struggling for overall credibility, and sparked government investigations that could lead to more damaging revelations or even criminal charges, FTX announced Friday that they declared bankruptcy.
The company announced Sam Bankman Fried’s resignation in a tweet, and named corporate turnaround expert John J. Ray III as its new CEO. Cryptocurrency experts are shocked by the breakneck speed of FTX’s decline.
Following FTX’s bankruptcy filing, the value of Bankman Fried’s assets dropped to zero within days, according to the Bloomberg Asset Price Index.
After the exchange filed for bankruptcy, analysts said hundreds of millions of dollars’ worth of crypto assets have been wiped out, prompting FTX to announce, through its official Telegram channel, that it had been hacked, and encouraged customers to uninstall all FTX apps.
By Audy Castaneda
