A new record for the cryptocurrency market
Bitcoin price briefly fell below $16,000 last week as FTX Exchange Group declared bankruptcy, according to Iran Economist, citing Crypto.
Last week, inflows into digital currency investments increased sharply as institutional investors took advantage of the drop in the midst of a market crash caused by the bankruptcy of the aforementioned exchange and Alameda Research.
Investments in digital assets totaled $42 million in the week ending Nov. 13, according to data from CoinShares, the largest increase in the past 14 weeks, and funds totaled $8.6 million and $5.9 million, respectively.
Investors also predicted further deterioration in market conditions, with Bitcoin investment posting $4.8 million in weekly inflows. Net inflows were recorded in all major regions of the United States ($29 million), Brazil ($8 million) and Canada ($4.3 million).
Although investors have been investing in cryptocurrencies, their outlook for blockchain stocks has dimmed. Data from CoinShares showed that blockchain stocks recorded $32 million in weekly outflows, the largest amount since May. Meanwhile, the stock market posted its best week of growth since March, with the Nasdaq Composite up 8.1 percent on weaker-than-expected inflation.
The cryptocurrency market faced renewed selling pressure last week as the FTX exchange filed for bankruptcy. Binance CEO Changpeng Zhao expressed interest in buying the collapsing exchange, but pulled out less than 24 hours later due to an apparent hole in FTX’s finances. It has since been revealed that FTX is approximately eight billion dollars in debt.
The total value of the global market of digital currencies is currently estimated at 843.37 billion dollars, which has decreased by 4.07% compared to the previous day. Currently, 38.27% of the total digital currency market is owned by Bitcoin, which has increased by 0.04% in one day.
The total volume of the digital currency market in the last 24 hours is 82.41 billion dollars, which has increased by 34.04%. The total volume in decentralized finance is currently $4.13 billion, which is 5.01% of the total 24-hour cryptocurrency market volume. The volume of all stablecoins is now $77.44 billion, which is 93.98% of the total 24-hour cryptocurrency market volume.
Cryptocurrency price update (up to 08:28 EST)
This category contains the price changes of the 10 largest digital currencies in terms of market capitalization.
1- Bitcoin
Price: 16,762.22 dollars
Price changes in the last 24 hours: 0.28% decrease
Price changes in the last week: 5.03% increase
2- Ethereum
Price: $1,255.76
Price changes in the last 24 hours: 0.00% decrease
Price changes of a recent week: 6.23% increase
3- Tether
Price: $0.999
Price changes in the last 24 hours: 0.00% increase
Price changes in the last week: 0.02% increase
4- USD coin
Price: $1.00
Price changes in the last 24 hours: 0.01% decrease
Price changes in the last week: 0.01 percent decrease
5- Binance Coin
Price: $279.38
Price changes in the last 24 hours: 0.24% decrease
Price changes in the last week: 3.64% increase
6- Ripple
Price: $0.372
Price changes in the last 24 hours: 0.70% increase
Price changes in the last one week, 13.67% increase
7- Cardano
Price: $0.334
Price changes in the last 24 hours: 0.05% increase
Price changes in the last week: 4.96% increase
8- Solana
Price: $14.05
Price changes in the last 24 hours: 1.06% decrease
Price changes in the last week: 11.26% increase
9 – Dogecoin
Price: $0.8688
Price changes in the last 24 hours: 0.34% increase
Price changes in the last week: 6.21% increase
10- Polka dot
Price: $5.87
Price changes in the last 24 hours: 0.14% decrease
Price changes of a recent week: 5.97% increase