The global crypto market has seen a positive trend over the recent hours as the influx of capital continues. The latest data for Bitcoin, Ethereum, and others shows that the market has remained favorable to investors. As the influx of capital has continued uninterrupted, there has been an increase in investor gains. The positive trend has continued for a while, which is an indication of stability. Though the fluctuations are likely to continue in the market, the current stability will benefit it.
Sam Bankman-Fried has signed extradition papers and is set to return to the US to face charges. The FTX founder has reportedly signed the documents, which brings him a step closer to returning to US soil. As the documents have been signed, SBF will soon be handed over to the FBI and flown to the United States to face criminal charges. Extradition was an expected move as SBF had agreed to sign the papers to be extradited.
A media outlet has shared the news of SBF signing the extradition papers citing Bahamas’ acting commissioner of corrections, Doan Cleare. SBF has also signed another set of documents waiving his rights to fight extradition. As the final papers are signed, SBF will be taken to the US by FBI agents, where he faces eight counts in the indictment.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC trading at $16.8K
Cipher has purchased new Bitcoin mining rigs for the Odessa data center. Cipher mining disclosed the purchase on Tuesday that the additional mining rigs will be installed at the Odessa data center. The addition of new mining rigs will ensure that its hash rate and other features are improved.
The recent changes for Bitcoin show the continuation of the positive trend. The latest data shows that it has added 0.58% over the last 24 hours. The weekly data shows that Bitcoin has shed 5.06%.
The price value of BTC is currently in the $16,872.22 range. The market cap value of Bitcoin is estimated to be $324,609,787,768. The 24-hour trading volume of Bitcoin is about $21,732,507,344.
ETH in gains
Ethereum has shown a bounce, but derivatives metrics show that the traders might fear lows. The demand for leverage buying remains absent in ETH despite the recent rise to $1.2K. The US Federal Reserve has continued to hike rates despite the ongoing problems.
The value of Ethereum has continued to improve over recent hours. The latest data shows that it has added 1.56% over the last 24 hours. The seven-day data shows that it has shed 8.14%.
The price value of ETH has improved to the $1,212.12 range. The market cap value of this coin is estimated to be $148,331,792,497. The 24-hour trading volume of the same coin is about $6,306,505,433.
ALGO bearish
The performance of Algorand has shown a bearish trend over recent hours. The latest data shows that it has shed 1.63% over the last day. The seven-day data shows that it has regressed by 21.07%. The price value of ALGO has lowered to the $0.1769 range.
The market cap value of Algorand is estimated to be $1,262,125,138. The 24-hour trading volume of this coin is about $42,708,154. The same amount in its native currency is about 241,407,243 ALGO.
VET in losses
The value of VeChain has also continued to lower as a result of recent changes. The latest data shows that it has shed 1.10% in a day. The seven-day data shows that it has shed 15.12%. The price value of VET has also been affected, as it is currently in the $0.01618 range.
The market cap value of VeChain is estimated to be $1,172,953,071. The 24-hour trading volume of this coin is about $23,762,910. The circulating supply of the same coin is about 72,511,146,418 VET.
Final Thoughts
The global crypto market has witnessed a positive change in performance over recent hours. The performance of Bitcoin, Ethereum, and others shows optimistic changes. Though some coins have seen fluctuations, there is still a chance for improvement. The global market cap value has also seen a slight improvement. The latest data shows that it is estimated to be $811.75 billion.
