the two largest cryptocurrencies, Bitcoin BTC/USD And Ethereum ETH/USDTrading in the red on Sunday evening as the global cryptocurrency market cap declined by 3.81% to $804.37 billion at 8:54 PM EST.
|cryptocurrency||performance||Price (Sunday, 8:45 PM EST)|
What happened: The Fall of Crypto Exchanges ftx ftt/usd All of the top 10 cryptos by market capitalization have lost ground in the last seven days.
coinmarketcap top 10 list of meme coins viewed dog coin doge/usd fell 8.7% to $0.07, while the biggest losers matic/usd fell 8% to $0.80.
US stock Advanced Friday. Dow Jones Industrial Average rose 0.6%, the S&P 500 rose 0.5%, and Nasdaq Composite Index increased by only 0.1%.
See more: best crypto apps
Troubled Crypto Exchange ftx called in accomplices to help track down the hacker who stole an estimated $600 million from the Bahamas-based exchange and began moving the funds to other tokens. The hacker’s address as of Tuesday held at least 228,523.83 Ether, making it the 35th largest Ethereum holder in the world.
On Sunday, after moving some of the ether to a new wallet, the hacker began converting the rest into renBTC, a token that represents bitcoin on other blockchains.
crypto trader Michael van de Poppe Said a bear market rally is coming soon. “Can’t wait to start sharing charts and set-up profits as we get closer to bearing out the market rally.”
pseudonymous crypto analyst capo, Who? predicted a collapse for bitcoin this year, saying it is potentially heading for a new bear market decline. He believes that the current rally is a trap for the bulls, and that bitcoin will fall to lower levels in the near future.
In a Twitter post, he shared how BTC hit the resistance at $17,600. He predicted that bitcoin would be in recovery after hitting the capitulation target.
– Il Capo of Crypto (@CryptoCapo_) November 18, 2022
Read further: FTX CEO details plans to restructure global empire, asks stakeholders to ‘be patient’