The global crypto market has continued to face problems even though the losses have grown lower. The changes for Bitcoin, Ethereum, and others show that there has been a considerable decrease in the amount of losses. The strength in their value came as the result of decreased efflux and increased influx. As the market has continued to move towards positivity, the investors have been in a favorable situation. As the market turned bullish, it will strengthen the market further.
FTX has offered Voyager support as it faces a difficult situation. As described in the support program, the investors will be able to receive a refund on their investments. Sam Bankman-Fried has offered a rescue program to Voyager, whose customers can withdraw their funds from FTX. Voyager has faced a severe decline in its capital, thus unable to pay its investors. It halted user transactions on 1 July, thus leaving many in an uncertain situation.
According to the proposal from Sam Bankman-Fried, the customers of Voyager will be offered new accounts on FTX. They can withdraw their cash immediately once they open an account in FTX. While they can also use these funds for trading on FTX. Three companies, viz., FTX Trading, West Realm Shires, and Alameda Ventures will fund the company.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and some other altcoins.
BTC stays recessive
Coinbase has seen a surge in its nano-Bitcoin futures product. The investors have continued to fuel this project which saw a push the last week. As the market continues to recover, this project will see a further rise in value.
The latest data shows that Bitcoin has reduced its losses recently. The latest data for Bitcoin shows that it has shed 1.97% over the last day. In comparison, the weekly performance shows an addition of 5.79%.
The price value for Bitcoin has also suffered and is currently in the $22,433.23 range. The market cap value for Bitcoin is estimated to be $428,509,256,541. The 24-hour trading volume of Bitcoin is about $24,609,256,211.
ETH stalled by bears
Ethereum has continued to outpace various other coins in the market as it is seeing a thaw in prices. The increase in value has brought it considerable gains and it seems to be outpacing Bitcoin. It can pose serious threats to the market dominance of Bitcoin if the growth continues.
The change in the market has brought Ethereum gains lowering its losses. The changes show that it has shed 0.46% over the last day. The weekly performance shows a gain of 16.17%.
The price value for ETH is also improving as it is currently about $1,562.47. The market cap value for this coin is estimated to be $190,109,142,286. The 24-hour trading volume of this coin is about $15,301,639,394.
FTT continues red
FTX Token has yet continued bearish as the influx is not that strong. The latest data for these coins shows that it has shed 2.73% over the last 24 hours. The weekly performance shows an addition of 2.30%. The price value for the same coin is in the $28.61 range.
If we look at the market cap value for FTT, it is estimated to be $3,871,869,205. The 24-hour trading volume for this coin is about $72,535,877. The same amount in its native currency is about 2,535,630 FTT.
LINK still shows a downtrend
Chainlink has also shown a downtrend as the amount of losses is still considerable. The latest data shows that it has shed 0.23% over the last day. The weekly performance shows an addition of 6.04%. The price value for this coin has also been affected as it is currently about $3,218,928,477.
The market cap value for LINK is estimated to be $3,218,928,477. The 24-hour trading volume of this coin is about $311,506,324. The circulating supply of this coin is about 467,099,971 LINK.
Final Thoughts
The performance of the global crypto market has improved compared to the other day. There has been a considerable decrease in the amount of losses. The change has resulted in the improvement of Bitcoin and altcoins. The change has helped reconsolidate the global market cap value. It is currently estimated to be $1.03 trillion.