Bitcoin, Ethereum, Nexo and GMX Daily Price Analysis – October 23 Roundup
The global crypto market has continued to grow in value due to inflows. The recent changes for Bitcoin, Ethereum and others continue to show encouraging results. As the market has remained positive, there has been satisfaction in investor circles. The continuous losses in the past few days proved discouraging for investors due to the deteriorating situation. Now there is hope for improvement as the market has been able to hold gains for a long time.
FTX has asked the court to allow BitGo to protect its assets during bankruptcy. The company will hold $740 million of remaining digital assets in its cold wallets. BitGo CEO has stated that it is time to end man-made disasters. The custody agreement was signed on November 13, the day after a hacker siphoned off millions worth of it. The company and its affiliates must ask the court to allow protection before funds are moved.
FTX agreed to pay an upfront fee of $5 million to BitGo for its services. Lawyers have estimated the fee for services at $100,000 per month. FTX has continued to investigate the loss of funds while attempting to recover the lost capital. The company went bankrupt as a result of continuous withdrawals, which resulted in collapse.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum and others.
BTC continues to rise
Bitcoin and others have surged in value due to the release of Fed minutes. The Fed laid out its plans for a further hike, stating that it may move to smaller rate hikes. If this happens, it will have lasting benefits for the overall crypto market.
The latest changes for Bitcoin show a sustained trend of gains. The latest data shows that it has increased by 2.19% in the last 24 hours. The weekly performance of Bitcoin shows a loss of 0.87%.
The price value of BTC is currently in the area of $16,542.62. The market value of Bitcoin is estimated to be $317,873,632,469. The 24-hour trading volume for Bitcoin is approximately $32,922,840,772.
ETH adds further
Ethereum supply last active in three to five years has hit 11 monthly low. The market has continued to face problems due to major events such as the collapse of FTX and other companies. Ethereum has shown strong resistance to negative changes despite the strong downward move.
The performance of Ethereum also shows gains as it remained bullish. The latest data shows that it has increased by 3.94% in the last day. The seven-day data shows that the losses are about 3.06%.
The price value of ETH is currently in the area of $1,180.60. The market value of this coin is estimated to be $144,474,881,980. The 24-hour trading volume for the same coin is around $11,103,590,635.
NEXO bullish
The value of Nexo has also increased as a result of the capital injection. The latest changes show that it has increased by 1.37% in the last 24 hours. The weekly data shows that it has increased by 0.96%. The price value of NEXO is currently in the $0.695 range.
The market value of Nexo is estimated at $389,184,832. The 24-hour trading volume for this coin is approximately $4,636,050. The same amount in its native currency is approximately 6,668,969 NEXO.
GMX continues to rise
There has been a significant improvement in the performance of GMX. The latest data shows that it has increased by 5.38% in the last 24 hours. The weekly performance of this coin shows that it has increased by 5.16%. The price value of GMX is currently in the range of $42.61.
The market cap of GMX is estimated to be $340,502,882. The 24-hour trading volume for the same coin is around $18,562,892. The circulating supply of this coin is approximately 7,990,696 GMX.
Final thoughts
The global crypto market has experienced an increase in capital inflows. The latest data shows that Bitcoin, Ethereum and others continue to increase in value. The recent changes have led to a strong bullish current, helping further inflows. The global market value has also strengthened as a result of these changes. The latest data shows that it is estimated at 829.80 billion dollars.
