Bitcoin, Ethereum, Chain and Fantom Daily Price Analysis – December 13 Roundup
The global crypto market has seen a positive trend in recent hours. The performance of Bitcoin, Ethereum and others shows that there has been a significant influx of capital. The influx has helped the market strengthen its value amid the R&D created around Binance. The main reason for uncertainty in the market is rumors that have led to the collapse of various big names. It is hoped that the market will continue its advance, and prevent other major collapses.
Binance has seen the largest outflow of stablecoins in the last 24 hours. Although Binance has seen a difficult time as the outflow of capital continues, experts estimated that it has about $30 billion of stablecoins. The largest crypto exchange faced an outflow of stablecoins (USDT, BUSD, USDC), which amounted to $2.159 billion. Nansen has estimated that Binance still has the potential to stand strong even if the pressure is enormous. According to available estimates, the total assets of Binance amount to $58.79 billion.
The BUSD amount represents 26.38% of the total, while the USDT represents 21.17% of total assets. Net outflows since December 12 amount to $2 billion in Ethereum-based token withdrawals. The world’s largest exchange also saw the largest Bitcoin withdrawals in one day. Binance CEO CZ has said that Binance has grown amid R&D and there is nothing to worry about.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum and others.
BTC Closer to $17.8K
The Marathon Digital share has seen a significant drop in value. The aforementioned stock saw an 8.1% drop as the FTX contagion continued. There has been a major impact of the FTX collapse, and the following drama in the market as various companies subsequently saw their collapse.
The performance of Bitcoin has seen a significant improvement in recent hours. The latest data shows that it has increased by 3.60% in the last day. The seven-day data shows that it has increased by 4.13%.
The price value of BTC is currently in the area of $17,765.65. The market value of Bitcoin is estimated to be $341,711,291,600. The 24-hour trading volume for Bitcoin is around $26,573,063,934.
ETH on the way up
The Hong Kong Stock Exchange has announced the listing of CSOP Asset Management’s Bitcoin and Ethereum ETF. The aforementioned company has received approval to list its Bitcoin and Ethereum exchange-traded funds.
The performance of Ethereum has also seen a significant improvement over the past few hours. The latest data shows that it has increased by 4.11%. The weekly performance shows that it has increased by 4.16%.
The price value of ETH is currently in the area of $1,319.84. The market value of this coin is estimated to be $161,507,528,866. The 24-hour trading volume for the same coin is approximately $8,889,041,544.
XCN in profit
The performance of Chain has also improved, as the statistics show. The latest data shows that it has increased by 0.48% in the last 24 hours. The weekly performance of this coin shows that it has fallen 11.96%. The price value of XCN is currently in the range of $0.03394.
The market cap of Chain is estimated at $728,684,789. The 24-hour trading volume for this coin is approximately $7,781,279. The same amount in its original currency is approximately 228,774,549 XCN.
FTM remains bullish
Fantom has also seen a bullish trend in recent hours. The latest data shows that it has increased by 7.62% in the last 24 hours. The seven-day data shows that it has increased by 1.93%. The price value of FTM is currently in the range of $0.2499.
The market value of Fantom is estimated at $636,113,469. The 24-hour trading volume for this coin is around $127,652,876. The circulating supply of the same coin is approximately 2,545,006,273 FTM.
Final thoughts
The global crypto market has seen a favorable situation in recent hours. The performance of Bitcoin, Ethereum and others shows a bullish trend. As the market has continued to improve, there has been an increase in capital inflows. The global market capitalization has also improved as it is estimated at $870.20 billion.
