Although the price of the Bitcoin currency (Bitcoin-BTC) has not changed significantly today – on the seventeenth of November – the situation of pressure and instability still dominates the situation. Trading Genesis, a trading and financial services company, has suspended currency withdrawals from its lending division, citing “extreme market volatility” following the collapse of Sam Bankman’s FTX platform. In this regard, the second largest cryptocurrency Ethereum (ETH) witnessed a sideways price fluctuation between $1,175 and $1,280.
decreased Market value of the cryptocurrency sector Yesterday, it rose more than 1% to $835 billion, coinciding with a decline in major digital currencies on November 17. Total trading volume in the last 24 hours also fell by more than 3% to $60.72 billion. dollars.
Decentralized Finance (DeFi) market trading volume reached $3.3 billion, which is 5% of the total trading volume in the last 24 hours, while the total stablecoin volume reached $57.26 billion, which is 94% of the total volume constitutes more than .The total volume of transactions in the overall cryptocurrency market in the last 24 hours.
Now let’s take a look at the major gainers and losers in the altcoin market over the past day.
The biggest winners and losers in the Altcoins market
Chiliz-CHZ, Stacks-STX, and Arweave-AR topped the list of currencies with gains over the past 24 hours, as Chiliz-CHZ rose over 13% to 0.2285. $ (Stacks) -STX) rose more than 5% to $0.2385, while (Arweave-AR) witnessed a near 5% gain.
Trust Wallet’s TWT currency has fallen over 15% to $1.96 in the last 24 hours, while GMX has fallen over 12% to 39.5 over the same period. %.
The beginning of investment behaviors aimed at reducing risks after the suspension of the Genesis platform for withdrawal
After the news of Genesis temporarily suspending cryptocurrency withdrawals, there was negative sentiment among cryptocurrency traders, and interim CEO Derar Islam informed clients that Genesis Global Capital (Global Capital’s lending arm) would temporarily stop withdrawing funds or issuing new loans. Collapse of the FTX platform.
Genesis Global Capital, which serves institutional clients, has approximately $2.8 billion in active loans since then End of the third quarter of 2022 This is reported on the company’s website. The CEO confirmed that the capital of Genesis Trading, the brokerage arm of Genesis Global Capital, is completely independent as it is managed separately from the lending arm.
He confirmed that the trading and custodial services provided by Genesis are still operating normally and that the Eslim platform is studying the available options for the credit division, such as identifying new sources of liquidity, and that Genesis will share more information. with their clients next week.
In a related context, Amanda Joy, Vice President of Communications and Marketing at Digital Currency Group-DCG, owner of Genesis and CoinDesk, said:
Today, Genesis Global Capital has made the difficult decision to temporarily suspend any new loan origination and issuance.He added that this decision was taken after “extreme market confusion and loss of confidence in the sector as a whole” caused by the collapse of the FTX platform.
Bitcoin price
The price of Bitcoin is currently at $16,526 with a trading volume of $34 billion in the last 24 hours alone, knowing that Bitcoin-BTC is number one on the CoinMarketCap platform, the price of the currency has increased by about 2% in the same period. the current market cap is $324 billion, and as you know, the maximum supply of Bitcoin is limited to 21,000,000 bitcoins, of which 19,208,887 coins have been mined so far.
Bitcoin’s financials haven’t changed significantly, with the most popular cryptocurrency trading in line with our latest price predictions. Because while the price of bitcoin is currently in a wide range between 18-16 thousand dollars, the future price depends on breaking this range in one of two directions. At the same time, Bitcoin completed the 38.2% Fibonacci retracement at $18,100 in 4 hours and is currently stable at this level, indicating that we expect the price to rise further if Bitcoin can break through the $18,100 barrier.
While Bitcoin price may reach $19,350, which corresponds to the 61.8% Fibonacci level, it may fall below $15,965 if the price fails to break through the 38.2% Fibonacci retracement level of $18,250.
While the MACD forecast, 50-day moving average and RSI remained negative, it signaled the need to buy. If Bitcoin closes below $18,000, the coin’s decline will continue with support levels around $16,000 and $15,850.
Ethereum price (Ethereum-ETH)
The current price of Ethereum is $1213 with a daily trading volume of $12 billion. Ethereum’s value has fallen 2.5% in the last 24 hours to a market cap of $148 billion, and Ethereum is currently the second largest cryptocurrency on CoinMarketCap. Here we note that the circulating supply of Ethereum has reached 122,373,866 Ethereum coins and, unlike Bitcoin, there is no maximum limit for this value.
Daily routines witnessed a bullish move in Ethereum (ETH) price as it regained some of its value at $1,262, while the 50-day moving average represents a support level as an immediate resistance level and if there is an upside. If it continues above $1,370, the price may again target the level of $1,506 or $1,670.
Finally, it can be said that the next support level is still at $1,170 or $1,095, and if the price of Ethereum breaks below this level, it is likely to reach $1,000 or $881, but this does not seem likely at the moment.
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Dash 2 Trade (D2T)
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The D2T platform is built on the Ethereum blockchain and relies heavily on AI technologies to provide traders with updated information that is useful for investors of all levels to make informed decisions.
The platform’s token sale started three weeks ago and has raised more than $6.2 million so far, and the first listing of D2T on the platform has also been announced. LBank centralization.
Interestingly, the price of D2T coin is currently $0.0513 and it is expected to reach $0.0533 in the next selling phase and $0.0662 in the last phase.
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The best buying and selling rates for cryptocurrencies
