Bitcoin, Ethereum, Cronos and Algorand Daily Price Analysis – November 3rd Roundup
The global crypto market has changed direction as it turned bullish in recent hours. The performance of Bitcoin and Ethereum still shows bearishness while others have turned bullish. The change in market performance has brought stability to various coins. While others are likely to turn bullish soon. As the market has taken a positive direction, there is a likely chance that the investors will get benefits. The last few days of the bearish market had led to constant losses for the investors.
CEO of Terra LUNA, Do Kwon, reportedly lives in Europe. According to Korean authorities, his passport has been revoked and he remains in hiding. While South Korean publication KBS has claimed that Do Kwon lives in Europe despite the revocation of his passport. He reportedly fled to an unknown European location via Dubai before his passport was invalidated. He has ignored State Department requests to return the passport.
The authorities had asked him to return to South Korea and face charges for violating the Capital Markets Act, along with several other employees of the company. South Korean authorities launched a manhunt for him after the collapse of TerraUSD stablecoin and then the collapse of LUNA in May 2022. At the request of South Korean authorities, Interpol issued a red notice for him.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum and others.
BTC still bearish
Bitcoin mining company Iris Energy may fail to pay off its loans. Several unfortunate cases have emerged in the Bitcoin and crypto space. One of these is Iris Energy’s inability to repay loans due to mounting financial problems. On the other hand, Block reported a net loss of $14.7 million in the third quarter.
The latest changes for Bitcoin show the continuation of the negative trend. The latest data shows that it has decreased 0.14% in the last 24 hours. The weekly performance shows that it has lost 0.05%.
The price value of BTC is currently in the area of $20,294.65. The market value of Bitcoin is estimated to be $389,461,697,840. The 24-hour trading volume for Bitcoin is around $43,142,098,931.
ETH continues recessive
OpenSea Polygon outperformed OpenSea Ethereum in October. As people have continued to move away from speculative asset classes, leading NFTs marketplace OpenSea has continued to suffer. The suffering has come in the form of a decline in the share of market volume.
The value of Ethereum has also suffered losses due to a downward move. The latest data shows that it has decreased by 0.39% in the last 24 hours. The weekly performance shows an addition of 1.23%.
The price value of ETH is currently in the area of $1,540.07. The market value of this coin is estimated to be $188,328,862,765. The 24-hour trading volume for this coin is approximately $13,566,408,793.
CRO is gaining momentum
The value of Cronos has witnessed a rise due to the bullish trend in recent hours. The latest data shows that it has increased by 0.25% in the last 24 hours. The weekly performance shows that it has increased by 1.31%. The price value of CRO is currently in the $0.111 range.
The market cap of Cronos is estimated to be $2,805,070,821. The 24-hour trading volume for this coin is approximately $28,174,578. The same amount in its original currency is approximately 253,745,733 CRO.
ALGO turns bullish
The value of Algorand has also seen a boost due to a bullish trend. The latest data shows that it has increased by 0.39% in the last 24 hours. The weekly data shows that it has increased by 12.75%. The price value of ALGO is currently in the range of $0.3699.
The market value of Algorand is estimated at $2,610,877,459. The 24-hour trading volume for this coin is approximately $266,644,721. The circulating supply of the same coin is approximately 7,075,290,344 ALGO.
Final thoughts
The global crypto market has seen a boost in performance over the past day. The data for Bitcoin and Ethereum still shows bearishness while others have seen a positive change. The ongoing changes have provided investors with gains that are likely to continue. The global market value has also increased. The latest data shows that it is estimated at 1.01 trillion dollars.
