The negative changes in the performance of the global crypto market have continued. There has been no significant increase in the value of Bitcoin, Ethereum, and others over recent hours. The market is in a complete clutch of a bearish trend, affecting its overall performance. There is a likely chance that the market continues to be bearish with occasional bullish changes. The reasons are crystal clear which include the collapse of major names and continuing losses for exchanges.
Payments company Curve has bid for BlockFi’s 87,000 credit card customers. A Curve spokesperson has confirmed that they have been in negotiations to acquire BlockFi’s credit card programs since 12 November. The credit cards of Curve’s customers have been suspended since 11 November. If the negotiations succeed the customers will be able to reclaim their cards’ use. The talks are still in progress with the company Deserve which services the BlockFi card program.
The terms are being negotiated between Curve and Deserve but the sale or partnership is pending due diligence. The spokesperson also noted that Curve is not interested in BlockFi’s assets. Once the acquisition process succeeds, the company looks to benefit from the credit card program, noting the customers will still be able to earn crypto rewards.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC lowers to $15.9K
Analysts have said that Bitcoin will shrug off FTX’s black swan as it did Mt. Gox. There might be little to worry about when it comes to the collapse of FTX and its impacts on Bitcoin. The trading team Stockmoney Lizards has expressed strong trust in BTC’s resilience. BTC and others saw a significant decline due to the collapse of FTX and Alameda.
The recent changes for Bitcoin show that it hasn’t resumed gains yet. The latest data shows that it shed 5.14% over the last 24 hours. The weekly performance shows that it has regressed by 24.03%.
The price value of BTC is currently in the $15,997.30 range. The market cap value of Bitcoin is estimated to be $307,256,050,287. The 24-hour trading volume of Bitcoin is about $29,334,543,533.
ETH continues losing
Ethereum’s Vitalik Buterin has made another donation to the Dogecoin foundation. The renowned name in crypto has donated 20 million DOGE to the Dogecoin community. The community is yet to announce how the donated Dogecoin will be used by the non-profit organization.
The value of Ethereum has continued to lower as the market remains recessive. The latest data shows that it has shed 6.45% over the last day. The weekly performance shows that it has shed 25.76%.
The speedy regression has brought ETH price value to the $1,181.13 range. The market cap value of this coin is estimated to be $144,539,995,189. The 24-hour trading volume of this coin is about $11,548,176,657.
DOT on a losing spree
The value of the Polkadot has seen no rise because of the constant downward pull. The latest data shows that it has shed 5.10% over the last 24 hours. The weekly performance of this coin shows a loss of 20.25%. The price value of DOT is currently in the $5.53 range.
The market cap value of Polkadot is estimated to be $6,271,411,777. The 24-hour trading volume of this coin is about $258,549,244. The same amount in its native currency is about 47,094,499 DOT.
TRX super-bearish
The value of Tron has also continued to stay at lows because of dominant bearishness. The latest data shows that it has shed 9.02% in a day. The weekly performance shows that it has shed 9.46%. The price value of TRX is currently in the $0.05062 range.
The market cap value of Tron is estimated to be $4,667,067,708. The 24-hour trading volume of this coin is about $677,888,335. The circulating supply of this coin is about 92,206,249,690 TRX.
Final Thoughts
The global crypto market continues in losses due to the constant bearish trend. The value of Bitcoin, Ethereum, and others has seen no hope of a constant downward pull. Incidents like the collapse of FTX and Alameda have added to the misery. The global market cap value also continues to lower as it is currently in the $803.89 billion.
