Major coins traded lower on Monday evening as the global cryptocurrency market cap fell 2.2% to $792.8 billion at 7:27 PM EST.
|Bitcoin: BTC / USD||-1.8%||-4.4%||$16,456.07|
|Ethereum: ETH / USD||-1.4%||-8.4%||$1,168.30|
|Dogecoin: DOGE / USD||-9%||-21.5%||$0.07|
|Cryptocurrency||24-Hour % Change (+/-)||Price:|
|XDC network (XDC)||+9.6%||$0.03|
|Bitcoin SV: (BSV)||+0.8%||$45.04|
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Why is it important? Cryptocurrencies followed other risk assets looking for the annual Santa rally that has been elusive so far this year.
Bitcoin: and Ethereum traded lower on the day, with the S&P 500 and Nasdaq closing down 0.9% and 1.5% intraday, respectively.
“Bitcoin tracks the broader markets and is lower on the day,” they said Edward Moyawith a senior market analyst OANDA.
on monday Binance: US struck a deal with a bankrupt cryptocurrency firm Voyager Digital to buy the latter’s assets for 1.02 billion dollars.
“Voyager’s distressed assets were supposed to be bought by FTX, but then the collapse happened,” Moya said in a note seen by Benzinga.
The analyst said that “Binance may still be in the market to buy more distressed assets, which could also be seen as an attempt to show some strength in their health given the massive redemptions that have taken place.”
Kaiko Research: said that Binance has regained much of its lost market share. The cryptocurrency data platform noted that as the “crisis of confidence” worsened, cryptocurrency exchange market share fell from 81% to 68% due to massive outflows.
Binance Exchange Market Share — According to Kaiko Research
“Binance regained much of its market share over the weekend. In fact, since the collapse of FTX, Binance’s market share has risen from 67% to 80% compared to 11 other exchanges,” says Kaiko.
Michael van de Popp said that bitcoin moves with indices. “Let’s see what happens next,” said the cryptocurrency trader.
Factor LLC CEO and prominent salesman Peter Brandt said that Dogecoin: It’s in a Mulberry Bush pattern. Brandt was referencing a pattern named after an English nursery rhyme. The trader appears to be assuming that the DOGE is moving through a range of price gains and losses.
Santiment noted that altcoins have been hit particularly hard in the most recent downturn, with almost all projects underbought or half-bought due to average sellers’ losses.
“Our model, however, shows that several projects are now at historic pain points where bounces are occurring,” the market intelligence platform said on Twitter.
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