The global crypto market has seen a positive trend over recent hours. The performance of Bitcoin has shown regression while the rest of the market shows gains. As the market continues to improve, there is a likely chance that Bitcoin will also regain momentum. The market has continued to oscillate between positive and negative trends as the influx of capital has varied. As the market continues to see positive changes, there is a likely chance that it will be able to regain value.
Caroline Ellison has implicated Sam Bankman-Fried, saying she knew that it was wrong. Misleading financial statements have shown that Alameda and FTX had much entangled finances. The CEO of collapsed algorithmic trading firm Alameda told the judge that she agreed with the disgraced former CEO of FTX in providing misleading statements to Alameda’s lenders. The transcript of her courtroom allocution shows these details, which were kept sealed until the release of SBF on bond.
The court asked her to clarify whether she knew it was illegal, and she answered in yes. Ellison, along with Gary Wang, has pleaded guilty to federal charges in connection with their roles in frauds that led to FTX’s collapse. Both are cooperating with the court of the Southern District of New York. News of their plea agreements was held until SBF was en route from the Bahamas to the US.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC turns recessive
Mark Cuban has remained bullish on Bitcoin as he remains a firm adherent. In a recent statement, he reaffirmed his support for Bitcoin. He has dissed gold, saying that he wants Bitcoin price to lower further so that he can buy more.
The recent changes show a continuation of bearishness for Bitcoin. The latest data shows that it has shed 0.04% over the last 24 hours. The seven-day data shows that Bitcoin has added 0.83%.
The price value of BTC is currently in the $16,888.01 range. The market cap value of Bitcoin is estimated to be $324,995,115,471. The 24-hour trading volume of Bitcoin is about $12,474,091,408.
ETH bullish
Ethereum has seen a bearish signal over recent days. The network demand remains low as it has continued to drop. The continuation of lowering network demand might be a sign that Ethereum might see further lows.
The performance of Ethereum has shown slight improvement over recent hours. The latest data shows that it has added 0.19% over the last day. The seven-day data shows that it has added 2.63%.
The price value of ETH is currently in the $1,224.51 range. The market cap value of this coin is estimated to be $149,847,909,790. The 24-hour trading volume of the same coin is about $12,474,091,408.
QNT regaining momentum
The performance of Quant has also shown a positive trend as it regained momentum. The latest data shows that it has added 5.92% in a day. The seven-day data shows that it has added 7.09%. The price value of QNT is currently in the $112.79 range.
The market cap value of Quant is estimated to be $1,361,635,552. The 24-hour trading volume of this coin is about $22,729,201. The same amount in its native currency is about $201,321 QNT.
HBAR resumes gains
Hedera has also resumed gains as the market remains favorable to it. The latest data shows that it has added 0.38% in a day. In comparison, the seven-day data shows that it has added 4.68%. The price value of HBAR is currently in the $0.04378 range.
The market cap value of Hedera is estimated to be $1,096,116,460. The 24-hour trading volume of this coin is about $8,251,039. The circulating supply of the same coin is about 25,037,572,180 HBAR.
Final Thoughts
The global crypto market has seen a positive trend over recent hours. The performance of Bitcoin shows dominant bears, but the rest of the market has remained bullish. The market has continued to fluctuate as the influx has continued to change. The global market cap value has seen a slight improvement over recent hours. The latest data shows that it is estimated to be $813.38 billion.
