Bitcoin, Ethereum, Tron and Chainlink Daily Price Analysis – December 11 Roundup

by James · December 11, 2022

The global crypto market has seen a decline in gains in recent hours. The performance of Bitcoin, Ethereum and others shows that there has been no improvement. As the market has lowered its value, there has been a decrease in gains. The recessive trend has significantly affected the market as it faces turbulence. The market has repeatedly made attempts to cross the current resistance levels, but to no avail. The current situation is likely to continue as the difficulties may not end anytime soon.

Representative Tom Emmer has said that SEC Chairman Gary Gensler must testify before Congress. The Minnesota representative said Gensler’s agency has failed to gather critical information from the crypto companies. He has asked Gensler to share his approach before Congress regarding crypto companies. He added that Gensler would answer questions and share details about the costs that customers had to pay for his regulatory mistakes.

Emmer Tweeted all this in a Twitter thread mentioning Gary Gensler. He said the SEC failed to gather critical information and if it had, the $32 billion FTX collapse would have been prevented. Furthermore, he is of the opinion that the information gathered by the SEC was ineffective and, as a result, of no use. He argued that the SEC had shown a consistent lack of clarity regarding its approach.

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

Table of Contents

BTC trading in lows

The increased problems for Bitcoin privacy apps due to the TOR network’s DDOS attacks have led to new solutions. The I2P solution of Bitcoin privacy apps will create more convenience for users and improve their security. These apps faced difficulties for most of the year due to DDOS attacks.

BTCUSD 2022 12 12 07 33 31 — Source: TradingView

The latest changes in the market show that Bitcoin has once again faced problems. The latest data shows that it has decreased 1.21% in the last 24 hours. The weekly performance of Bitcoin shows a loss of 1.80%.

The price value of BTC is currently in the area of $16,947.28. The market value of Bitcoin is estimated to be $325,918,676,323. The 24-hour trading volume for Bitcoin is around $15,808,473,520.

ETH faces turbulence

There has been a significant increase in the ETH gas fee as Binance has moved funds to Proof of Reserves. Recent reports show it has increased to 233 GWEI, causing panic.

ETHUSDT 2022 12 12 07 34 24 — Source: TradingView

The performance of Ethereum has also shown a negative trend. The latest data shows that it has decreased by 1.09% in the last 24 hours. The seven-day data shows that it has declined by 2.67%.

The price value of ETH is currently in the area of $1,256.58. The market value of this coin is estimated at $153,772,858,466. The 24-hour trading volume for the same coin is approximately $3,741,830,934.

TRX in trouble

Tron has not been in a better situation compared to other coins in the market. The latest data shows that it has decreased by 2.17% in the last 24 hours. The seven-day data shows that it has increased by 0.79%. The price value of TRX is currently in the range of $0.05372.

TRXUSDT 2022 12 12 07 34 51 — Source: TradingView

The market cap of Tron is estimated at $4,945,610,788. The 24-hour trading volume for this coin is around $126,002,417. The same amount in its original currency is approximately 2,345,862,176 TRX.

LINK lowers the value

It has been a continuation of the negative trend for Chainlink. The latest data shows that it has gone down 2.89% in the last 24 hours. The seven-day data shows that it has gone down 11.18%. The price value of LINK is currently in the range of $6.68.

LINKUSDT 2022 12 12 07 36 46 — Source: TradingView

The market cap of Chainlink is estimated at $3,395,626,285. The 24 hour trading volume for this coin is around $140,764,125. The circulating supply of the same coin is approximately 507,999,970 LINK.

Final thoughts

The performance of the global crypto market has seen a negative trend. The latest data on Bitcoin, Ethereum and others shows that there has been a significant decline. As the market has fallen in value, there has been a reduction in capital inflows. The global market value has also been affected, as the latest data shows that it is estimated at $845.77 billion.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com has no responsibility for investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.