Bitcoin, Ethereum, Shiba Inu and Solana Daily Price Analysis – December 9 Roundup
The global crypto market has once again received a shock due to fluctuations. The data for the last few hours shows that Bitcoin, Ethereum and others could not sustain the momentum. As the market has become regressive, there has been a significant decrease in capital inflows. Instead, outflows have increased, which has affected the market’s value. There is hope that the market will soon resume its rise, but the current situation will have its consequences.
Argo Blockchain has suddenly revealed plans for bankruptcy, adding to the big names that succumbed to today’s turbulence. Crypto mining company Argo Blockchain may soon file for bankruptcy, according to a sudden announcement. The news of the bankruptcy filing was revealed by Will Foxley, the director of content at Compass Mining. Foxley shared the screenshot of the special announcement which was dated December 12. Shares in the company were suspended in the UK as revenues fell.
The announcement suggests that Argo may be preparing to file for bankruptcy soon. There is a chance that the detail was sent to Foxley by accident, or it could have been on purpose. The company had revealed details of a significant decline in revenue. The turbulent market has been the reason behind the bankruptcy registrations of big names in the crypto industry.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum and others.
BTC again in loss
Bitcoin is treading water ahead of the upcoming Fed meeting as it is expected to end the week marginally higher. Although it has made attempts to retest the resistance levels, it has not been able to move ahead of the $17K range. New lows have emerged as a result of the ongoing bearishness.
The latest changes for Bitcoin show that it has turned bearish. The latest data shows that Bitcoin has fallen 0.53% in the last 24 hours. The seven-day data shows that it has increased by 0.60%.
The price value of BTC is currently in the area of $17,138.17. The market value of Bitcoin is estimated to be $329,687,387,847. The 24-hour trading volume for Bitcoin is around $19,462,632,847.
ETH is turning bearish
The Ethereum merger will mark its third month, but the metrics are looking pretty grim. The aftermath of the Ethereum merger has yet to have a significant effect on the ETH price. Although there were big claims when it happened, there have been no significant developments yet.
The performance of Ethereum has also shown a negative trend. The latest data shows that it has gone down 1.32% in the last 24 hours. The seven-day data shows it has 1.77% as it could not retain gains.
The price value of ETH is currently in the area of $1,264.59. The market value of this coin is estimated to be $154,856,298,030. The 24-hour trading volume for the same coin is approximately $5,245,732,939.
SHIB lowers gains
The performance of the Shiba Inu has also shown a trend of decline in value. The latest data shows that it has reduced its gains to 0.01%. The weekly performance of this coin shows a loss of 0.39%. The price value of SHIB is currently in the range of $0.000009273.
The market cap of Shiba Inu is estimated at $5,091,261,017. The 24 hour trading volume for this coin is approximately $78,725,319. The same amount in its original currency is approximately 8,490,073,760,047.
SOL also recessive
Solana has also been recessive due to the negative trend in the market. The latest data shows that it has decreased by 0.45% in the last 24 hours. The seven-day data shows that it has increased by 0.04%. The price value of SOL is currently in the range of $13.61.
The market value of Solana is estimated to be $4,982,744,954. The 24-hour trading volume for this coin is around $207,362,609. The circulating supply of the same coin is approximately 366,114,771 SOL.
Final thoughts
The global crypto market failed to keep the bullish trend as it turned bearish. The latest changes for Bitcoin, Ethereum and others show a trend of decline. As the market has become recessive, there has been a decline in gains. The result of the decline has been a decline in the global market value. The latest data shows that it is estimated at 853.73 billion dollars.
