Crypto market 12hrs Update news 7, Nov: FTX 80 percent down, BTC, Altcoins Bleeds Heavy

Crypto Market in Dark RED.

The Crypto market in Dark red after news about FTX exchange to liquidate. Today, Bitcoin had taken a huge dump as feared about the FTX liquidity, BTC fall nearly 18% touched 16,830 mark and closed at 18,534. Bitcoin closed below the support zone which signals more blood. RSI remains neutral at 35.36. The global crypto market cap breaks below the psychological $1 trillion level, the prices of top two coins – Bitcoin (BTC) and Ethereum (ETH) –Red.

The global cryptocurrency market cap fall by 7.6% to $0.939 trillion in the last 24 hours, according to CoinGabbar data at the time of writing. The total crypto market volume over the last 24 hours was $201.9 billion.

Cryptoquants Derivates shows negative funding rates which means crypto will remains red in the coming hours.

BTC price has fall by 9.86% in the last 24 hours. At the time, BTC was trading at $18.534. In the last 7 days, BTC price has fall by 9.55%. Bitcoin (BTC) dominance rise from 37.02% to 37.11% while ETH dominated 19.9% of the total crypto markets.

Unknown terms have been agreed upon for the acquisition of competing exchange FTX by cryptocurrency behemoth Binance.

Following CZ's declaration, Sam Bankman-Fried, the CEO of FTX, said the acquisition by Binance of FTX would go ahead.

On the FTX exchange, the open interest in perpetual futures contracts for bitcoin was seen at a 16-month low of $711,533,975.

BitMEX will start trading native BMEX tokens on November 11; token ownership and staking will significantly reduce trading expenses.

Top Crypto Prices

Ethereum (ETH): Ethereum price fall by around 15.03% to $1,333 in the last 24 hours. In the last 7 days, ETH price has fall by over 15.25%. It is currently ranked as the 2nd largest crypto asset on CoinGabbar.

Binance (BNB): Binance Chain coin’s price fall to $327, by 2.75% in the last 24 hours. In the last 7 days, BNB price has fall by over 7.61%. It is currently ranked as the 4th largest crypto asset on CoinGabbar.

XRP: XRP coin’s price fall by 12.83% to $0.4059 in the last 24 hours. In the last 7 days, XRP price has fall by nearly 12.45%. It is currently ranked as the 6th biggest crypto on CoinGabbar.

Solana (SOL): Solana price fall 17.9% to $29.96 in the last 24 hours. In the last 7 days, SOL price has fall by nearly 25.34%. It is currently ranked as the 10th biggest crypto asset on CoinGabbar.

Cardano (ADA): Cardano token’s price fall by 7.89% to $0.3722 in the last 24 hours. In the last 7 days, ADA price has fall 8.39%. It is currently ranked as the 9th biggest crypto asset on CoinGabbar.

Dogecoin’s (DOGE) price fall by 20.4% in the last 24 hours. DOGE is currently ranked 8th. The price of DOGE at the time of this report was $0.08827.

Price of Polkadot (DOT) fall by 11.45% in the last 24 hours to $6.3. Avalanche (AVAX) price fall by nearly 11.35% to $15.99 in the last 24 hours. Both DOT and AVAX are currently ranked 12th and 15th respectively on CoinGabbar.

Polygon (MATIC) price fall by around 16.6% to $1.044 in the last 24 hours. In the last 7 days, MATIC price has rise by around 14.94%. It is currently ranked 11th on CoinGabbar.

Shiba Inu (SHIB) fall by 13.58% in the last 24 hours to $0.00001017. It is currently ranked 14th on CoinGabbar.