The global crypto market has continued to attract gains despite the strong downward pressure. The value of Bitcoin, Ethereum, and others continues to remain unchanged despite the chances of possible bearishness. As the market has faced a decline in gains, there have been lowered chances of the market staying bullish. But the resilience of various coins hasn’t let it happen, and the market has stayed afloat. There is a hope that the market will soon strengthen its gains.
Riot Games has announced the termination of FTX sponsorship due to ‘reputational harm.’ Riot Games has cited various reasons for it, which include damage caused due to violation of the morality clause. North America League of Legends Series (LLC) has made a filing in the FTX bankruptcy case. The company has requested the court to compel FTX to terminate the agreement or allow Riot Games to do so.
According to Riot, the agreement is non-assignable, and FTX can’t assume it under the bankruptcy code. Riot sought to end the agreement because of the reputational damage that FTX caused due to highly controversial actions. Additionally, Riot has expressed its right to put an end to the agreement because of the violation of the morality clause, which gives the right of termination to both parties. The US Bankruptcy Court in Delaware is holding a hearing regarding FTX’s bankruptcy on 11 January 2023.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC trying to stay bullish
Research shows that miners have sent 57K Bitcoin to exchanges in 2022. The mentioned move has led to a decrease in the selling pressure. 2022 proved to be a kind year for Bitcoin miners as the energy crisis followed as the result of Ukraine pushing Bitcoin miners to a relatively better situation.
The recent changes for Bitcoin show that there has been a positive trend. The latest data shows that it has added 0.19% over the last 24 hours. The seven-day data shows that it has shed 1.04%.
The price value of BTC is currently in the $16,772.04 range. The market cap value of Bitcoin is estimated to be $322,654,194,185. The 24-hour trading volume of Bitcoin is about $11,582,849,820.
ETH still green
Ethereum whales have switched to under 100K, and it will help it regain $1.2K. About $139 million worth of ETH got transferred among several wallets, and investors didn’t have any specific viewpoint about its price.
Ethereum has also been in a favorable situation as a result of recent gains. The latest data shows that it has added 0.30% in a day. The seven-day performance shows a loss of 5.38%.
The price value of ETH is currently in the $1,189.19 range. The market cap value of this coin is estimated to be $145,525,337,870. The 24-hour trading volume of the same coin is about $3,751,356,826.
SOL retains gains
Solana has also retained losses as it continues to struggle. The recent changes show that it has added 0.60% over the last 24 hours. The seven-day data shows that it has shed 6.18%. The price value of SOL is currently in the $12.50 range.
The market cap value of Solana is estimated to be $4,584,426,685. The 24-hour trading volume of this coin is about $113,351,216. The same amount in its native currency is about 9,064,608 SOL.
TON super-bullish
Toncoin has been super-bullish in contrast to other coins, which continue to struggle. The latest data shows that it has added 7.61% over the last day. The seven-day data shows that it has added 38.29%. The price value of TON is currently in the $2.72 range.
The market cap value of Toncoin is estimated to be $3,327,753,911. The 24-hour trading volume of this coin is about $44,147,839. The circulating supply of the same coin is about 1,221,401,181 TON.
Final Thoughts
The global crypto market has seen a positive trend over recent hours. The latest data shows that Bitcoin, Ethereum, and others have been able to retain gains. As the market continues to struggle, the investors remain unsure about their move. The influx of capital remained minimal, affecting the performance of the market. The global market cap value is estimated to be $812.06 billion.
