Bitcoin, Ethereum, Avalanche and Chainlink Daily Price Analysis – November 25 Roundup
The global crypto market has seen a significant change due to incoming gains. The influx of capital has strengthened Bitcoin, Ethereum and others. The emaciated market had suffered losses, but it has continued to show resistance to further declines. Downward moves had increased due to the collapse of the FTX exchange. The following days proved to be difficult for the overall market, but the current scenario speaks of a better market. The market will need a continuous influx of capital to maintain its momentum.
Polkadot has encouraged its community to fight fraud. Polkadot’s protocol has come to connect different blockchains and it has dedicated a special team to counter fraud. The centralized anti-fraud team will campaign against fraudsters in the ecosystem. Polkadot announced its plans on November 24 that it will begin an active campaign against scammers. Although Polkadot has not been there for long in the market, various fake websites have tried to imitate it.
Fake award tokens or giveaways have been created to attract users to fake websites. The Web3 Foundation’s legal department has attempted to address this issue with scam site removal requests. Nevertheless, the situation needs attention, and it can be solved with the help of PhishFort, an anti-fraud company specializing in the crypto industry. Furthermore, Allure Security has also teamed up to fight fraud.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum and others.
BTC crosses $16.6K
Bitcoin is back on track despite significant weekly losses. There is a broader caution in the market among FTX contagion that continues without much difference. Investors have been wary of losses and have moved cautiously to take advantage of the incoming gains.
The latest changes for Bitcoin show an optimistic scenario. The latest data shows that it has increased by 0.85% in the last 24 hours. The weekly performance of Bitcoin shows an addition of 0.20%.
The price value of BTC is currently in the area of $16,635.31. The market value of Bitcoin is estimated at $319,682,039,942. The 24-hour trading volume for this coin is approximately $19,981,206,263.
ETH gains momentum
Belgium’s government has issued a statement regarding Bitcoin and Ethereum. According to the official statement, the Belgian authorities do not regard these two as securities. The position of several digital assets will be clear with the government’s view on this issue.
The performance of Ethereum shows that it has grown significantly in recent hours. The latest data shows that it has increased by 3.02% in the last 24 hours. The weekly performance shows that it has increased by 1.39%.
The price value of ETH is currently in the area of $1,221.37. The market value of this coin is estimated to be $149,463,682,396. The 24-hour trading volume for the same coin is around $959,744,205.
AVAX revival value
The value of Avalanche has also seen a revival amid the growing market. The latest data shows that it has increased by 3.75% in the last 24 hours. The seven day performance of this coin shows an addition of 3.00%. The price value of AVAX is currently in the range of $13.16.
The market cap of Avalanche is approximately $3,958,289,722. The 24-hour trading volume for this coin is estimated at $137,521,406. The same amount in its original currency is approximately 10,433,392 AVAX.
LINK strengthening
Chainlink has also strengthened due to continued capital inflows. The latest data shows that it has increased by 3.55% in the last 24 hours. The weekly performance of this coin shows that it has added 13.82%. The price value of LINK is currently in the range of $6.94.
The market cap of Chainlink is estimated at $3,525,019,455. The 24 hour trading volume for this coin is approximately $264,114,921. The circulating supply of the same coin is approximately 507,999,970 AVAX.
Final thoughts
The global crypto market has witnessed a positive change in performance. The increase in the value of Bitcoin, Ethereum and others shows a revival of value. As the market appears to be recovering from the effects of the FTX collapse, there is hope for investors. They have continued to pour their capital into this market, which has helped its global market capitalization reach $842.56 billion.
