Bitcoin, Ethereum, FTX Token and Chainlink Daily Price Analysis – July 23 Roundup
The global crypto market has continued to face problems even as losses have eased. The changes for Bitcoin, Ethereum and others show that there has been a significant decrease in the amount of losses. The strength in their value came as a result of reduced outflows and increased inflows. As the market has continued to move towards positivity, investors have been in a favorable situation. As the market turned bullish, it will strengthen the market further.
FTX has offered Voyager support as it faces a difficult situation. As described in the support programme, investors will be able to get a refund on their investments. Sam Bankman-Fried has offered a bailout program for Voyager, whose customers can withdraw their money from FTX. Voyager has faced a sharp decline in capital, and is thus unable to pay its investors. It stopped user transactions on July 1, thus putting many in an uncertain situation.
According to the proposal from Sam Bankman-Fried, customers of Voyager will be offered new accounts at FTX. They can withdraw cash immediately when they open an account in FTX. While they can also use these funds to trade on FTX. Three companies, namely FTX Trading, West Realm Shires and Alameda Ventures will finance the company.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum and some other altcoins.
BTC remains recessive
Coinbase has seen an increase in its nano-Bitcoin futures product. The investors have continued to pursue this project, which saw a push in the last week. As the market continues to recover, this project will see further appreciation in value.
The latest data shows that Bitcoin has pared its losses recently. The latest data for Bitcoin shows that it is down 1.97% in the last day. In comparison, the weekly performance shows an addition of 5.79%.
The price value of Bitcoin has also suffered and is currently in the $22,433.23 range. The market value of Bitcoin is estimated to be $428,509,256,541. The 24-hour trading volume for Bitcoin is around $24,609,256,211.
ETH stopped by bears
Ethereum has continued to outperform several other coins in the market as it sees a thaw in its prices. Its rise in value has seen it make significant gains, and it looks set to surpass Bitcoin. It could pose serious threats to the market dominance of Bitcoin if its growth continues.
The change in the market has brought Ethereum gains that lower the losses. The changes show that it has fallen 0.46% in the last 24 hours. The weekly performance shows a gain of 16.17%.
The price value for ETH is also improving as it is currently around $1,562.47. The market value of this coin is estimated to be $190,109,142,286. The 24 hour trading volume for this coin is approximately $15,301,639,394.
FTT continues red
FTX Token has yet to remain bearish as the inflow is not that strong. The latest data for these coins shows that it has fallen 2.73% in the last 24 hours. The weekly performance shows an addition of 2.30%. The price value for the same coin is in the range of $28.61.
If we look at the market cap of FTT, it is estimated at $3,871,869,205. The 24-hour trading volume for this coin is approximately $72,535,877. The same amount in its original currency is approximately 2,535,630 FTT.
LINK still shows a downward trend
Chainlink has also shown a downward trend as the amount of losses is still significant. The latest data shows that it has fallen 0.23% in the last 24 hours. The weekly performance shows an addition of 6.04%. The price value of this coin has also been affected as it is currently around $3,218,928,477.
The market cap of LINK is estimated at $3,218,928,477. The 24 hour trading volume for this coin is approximately $311,506,324. The circulating supply of this coin is approximately 467,099,971 LINK.
Final thoughts
The performance of the global crypto market has improved compared to the second day. There has been a significant decrease in the amount of losses. The change has resulted in the improvement of Bitcoin and altcoins. The change has helped to reconsolidate the global market value. It is currently estimated to be $1.03 trillion.
