Bitcoin, Binance Coin, Litecoin and Avalanche Daily Price Analysis – November 21 Morning Prediction
The global crypto market has seen a drop in value over the past day. There has been no positive progress in the value of Bitcoin, Binance Coin and others. As the market has continued to face decline, there has been a sharp reduction in investment. The inflow of capital has decreased, which has negatively affected investor profits. As the stagnation continues, there are fears of another crash that could further affect the market.
The Japanese subsidiary of FTX plans to resume withdrawals before the end of the year. The Japanese broadcaster NHK has revealed the news of the resumption of withdrawals. Withdrawals cannot be resumed at this time because the Japanese subsidiary uses the same system as the parent company. The country’s financial authority had ordered a halt to withdrawals on 10 November. The company is developing its own system to ensure that withdrawals are possible.
The Japanese subsidiary of FTX has about 138 million dollars in funds. While the parent company owes around $3.1 billion to its creditors. As a result of this amount of debt, it may be forced to sell its subsidiaries, FTX Japan is also an inclusion. While FTX Japan is not the only subsidiary facing problems due to the collapse of its parent company.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin and others.
BTC slips to $16.1K
The impact of FTX collapse has continued for Bitcoin as it failed to improve its value. The recent conversion of ETH to Bitcoin has raised suspicions as FTX tapped funds continue to move. The continued uncertainty is the reason why Bitcoin has not been able to improve its value.
The latest changes show a continuation of the decline in Bitcoin value. The latest data shows that it has gone down 2.30% in the last 24 hours. The weekly performance of Bitcoin shows that it has retreated by 4.74%.
The price value of BTC is currently in the area of $16,169.05. The market value of Bitcoin is estimated at $310,661,438,061. The 24-hour trading volume for Bitcoin is around $29,722,776,162.
BNB remains recessive
Binance has made moves into the hardware industry as part of its plan to expand its network. The new investment details show it has moved into the hardware wallet industry. The company made a strategic investment in the Belgian hardware company Ngrave.
The performance of Binance Coin also shows no positive progress. The latest data shows that it has declined 3.05% in the last 24 hours. The weekly performance of this coin shows that it has regressed by 9.44%.
The price value of BNB is currently in the area of $260.39 as it continues to decline. The market value of this coin is estimated to be $41,656,049,645. The 24-hour trading volume for the same coin is approximately $944,216,152.
LTC continues red
The performance of Litecoin has also shown red candles as it remains bearish. The latest data shows that it has fallen 1.73% in the last 24 hours. The weekly performance of this coin shows that it has added 3.89%. The recent swings have brought the LTC price value to the $60.67 area.
The market value of Litecoin is estimated to be $4,347,547,323. The 24-hour trading volume for this coin is around $759,974,640. The same amount in its original currency is approximately 12,586,016 LTC.
AVAX in loss
Skred has also remained bearish over the past 24 hours. The latest data shows that it has gone down 5.76% in the last 24 hours. The seven days performance of this coin shows that it has fallen 11.19%. The price value of AVAX is currently in the $11.98 range.
The market value of Avalanche is estimated to be $3,600,185,424. The 24-hour trading volume for this coin is around $156,410,313. The circulating supply of the same coin is approximately 300,614,108 AVAX.
Final thoughts
The global crypto market has continued to face difficulties. The latest data shows that Bitcoin, Binance Coin and others have not seen value growth. As the market continues to slow, there has been an increase in sell-offs. The global market value has also been affected. The latest data shows that it is estimated at 799.71 billion dollars.
