Bitcoin, Ethereum, Tezos and Aave Daily Price Analysis – December 1st Roundup

by James · December 1, 2022

The global crypto market has faced a decline in value as capital inflows reduced. The recent changes for Bitcoin, Ethereum and others show a dominant trend of losses. The changes in the market became evident in the last few hours when the market started to reduce the gains. Fluctuations in the market have remained common as the market has failed to maintain the positive momentum. The market is expected to turn bullish soon as the alternation of positive and negative trends continues.

The US trustee has asked the bankruptcy court to appoint an FTX trustee. A US government attorney has asked a Delaware court to appoint an independent investigator in the ongoing bankruptcy court case. The inspector will take a closer look at the matter to find possible discrepancies. In a Dec. 1 lawsuit, the US trustee cited an unprecedented decline in value as well as comments from FTX CEO John Ray III as reasons for appointing an independent investigator.

FTX Digital Markets has also filed for bankruptcy in the Bahamas. The Bahamian government has indicated that it does not intend to move forward with the process to influence the entire case. FTX filed for bankruptcy on November 11, revealing a chaotic corporate world. Furthermore, the ex-managing director of the company SBF has made several media appearances.

Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum and others.

Table of Contents

BTC is going recessive

Bitcoin revenues have continued to decline in the month of November. The available data shows that it has fallen by 20%. Bitcoin miners generated about $472.64 million in revenue in November. The aforementioned data shows that it is 19.9% from last month.

BTCUSD 2022 12 02 07 25 33 — Source: TradingView

The latest changes for Bitcoin show a recessive trend. The latest data shows that it has gone down 1.23% in the last 24 hours. The weekly data shows that Bitcoin has added 2.50%.

The price value of BTC is currently in the area of $16,914.64. The market value of Bitcoin is estimated to be $325,135,688,229. The 24-hour trading volume for Bitcoin is approximately $22,397,249,880.

ETH on the losing side

The CFTC chair has also changed its mind on the issue of Ethereum as a commodity. Rostin Benham’s position on crypto differed from Gary Gensler’s, but it seems to have changed by the year. There has been an ongoing debate about whether Bitcoin, Ethereum and others are commodities or securities.

ETHUSDT 2022 12 02 07 25 53 — Source: TradingView

The value of Ethereum has also continued to decline in recent hours. The latest data shows that it has declined by 1.26% in the last 24 hours. The weekly data shows that it has increased by 7.08%.

The price value of ETH is currently in the area of $1,271.01. The market cap of this coin is estimated to be $155,538,662,791. The 24-hour trading volume for the same coin is approximately $6,618,328,296.

XTZ changes direction

Tezos has also seen a recessive trend in recent hours as it could not sustain the rally. The latest data shows that it has fallen 1.24% in the last 24 hours. The seven-day data shows that it has increased by 1.07%. The price value of XTZ is currently in the range of $0.9975.

XTZUSDT 2022 12 02 07 26 10 — Source: TradingView

The market cap of Tezos is estimated to be $916,084,467. The 24-hour trading volume for this coin is around $15,446,289. The same amount in its original currency is approximately 15,496,675 XTZ.

AAVE bearish

Aave has also been in losses as the market has turned bearish. The latest data shows that it has gone down 2.33% in the last 24 hours. The seven-day data shows that they have added 10.09%. The price value of AAVE is currently in the range of $62.95.

AAVEUSDT 2022 12 02 07 27 16 — Source: TradingView

The market value of Aave is estimated to be $887,105,180. The 24-hour trading volume for this coin is approximately $59,251,627. The circulating supply of the same coin is approximately 14,093,193 AAVE.

Final thoughts

The global crypto market has seen a drop in value in recent hours. The latest data shows that Bitcoin, Ethereum and others have faced a negative trend. The change in performance has resulted in a reverse trend for the global market cap as it has slowed. The latest data shows that it is estimated at 851.73 billion dollars. If the negative trend continues, it will probably fall further.

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