Over recent hours, the global crypto market has witnessed a speedy rise in value. The data for Bitcoin, Ethereum, and others shows a significant change in value. As there has been a speedy influx of capital, it shows that the market is moving towards healthy changes. The positive change is a sign of recovery that might put the market back on track. The recent months have given the market a recurring pattern of losses, which deprived it of a considerable value.
Cryptocurrency exchange Bithumb ex-chair could face a jail term. As per the available information from the news agency Yonhap, prosecutors in South Korea are seeking Lee Jung-hoon. The former head of a crypto trading company could serve up to eight years in jail for alleged fraud. Fraud involves the selling of the same tokens to multiple parties. He sold BXA tokens to BK Group for $25 million, while these were also sold to investors for around $45 million.
Bithumb didn’t list BXA, which resulted in grave losses for investors. The investors filed a lawsuit against Lee and Kim Mo; the latter serves as the chairman of BK Group. Previously a South Korean court had ruled that Kim didn’t have to answer because he was as much a victim as the investors. Police made several raids on Bithumb following the case filing.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC crosses $20K
Bitcoin is currently seeing a bullish change as its price passes $20K. Daily crypto short liquidations for BTC have passed $400 million as the price action saw its highest levels. The broader risk asset rally has given hope to investors.
The ongoing changes for Bitcoin show a continuation of the bullish trend. The latest data shows that it has added 4.54% over the last 24 hours. The weekly data for Bitcoin shows an addition of 4.45%.
The price value for BTC is currently in the $20,160.03 range. The market cap value for Bitcoin is estimated to be $386,857,314,664. The 24-hour trading volume of Bitcoin is about $49,203,184,269.
ETH close to $1.5K
Ethereum broke out the month-long range as it resisted the downward pressure. The mentioned coin briefly touched $1,500 and is struggling to reach there again. There has been no big change since mid-September, but the ongoing situation will likely give it a positive turn.
The performance of Ethereum has also seen a bullish trend. The latest data shows that it has added 9.84% over the last day. The weekly data shows that it has added 12.63%.
The price value for ETH has rallied to the $1,470.40 range. The market cap value for this coin is estimated to be $179,938,725,030. The 24-hour trading volume of the same coin is about $26,065,093,603.
XTZ continues bullish
The value of Tezos has also risen due to the influx of capital. The latest data shows it added 2.98% over the last day. The weekly data shows that it has added 1.66%. The price value for XTZ is currently in the $1.40 range.
The market cap value for Tezos is estimated to be $1,275,141,086. The 24-hour trading volume of this coin is about $28,502,653. The same amount in its native currency is about 20,427,776 XTZ.
AAVE still recessive
The performance of Aave has shown a decline due to efflux. The latest data shows that it has shed 2.39% over the last day. The weekly data shows that it has declined by 1.34%. The price value for AAVE is currently in the $81.62 range.
The market cap value for Aave is estimated to be $1,146,504,659. The 24-hour trading volume of this coin is about $167,288,580. The circulating supply of this coin is about 14,093,193 AAVE.
Final Thoughts
The global crypto market has seen a positive trend over recent hours. The speedy influx of capital has strengthened Bitcoin, Ethereum, and others. As the inflow continues, there has been a significant increase in investors’ gains. The global market cap value has also seen a considerable change. The latest data shows that it is estimated to be $971.32 billion.
