Cryptocurrency markets are losing value due to the FTX crisis. Many altcoins are sharing BTC’s bearish sentiment as Bitcoin struggles to hold above $16,000. However, developments in the market do not slow down. Because the cryptocurrency market is not just about prices, there are many innovations every day. The field of use of the groundbreaking Blockchain technology behind cryptos is spreading every day. Here’s what will happen for 11 altcoins today…
Important for 11 altcoins today
- The online Illuminate/22 conference will be held mid-November 10-11.
- DSLA Protocol (DSLA) will launch mainnet 2.0 on Avalanche (AVAX).
- BitMart listed Comtech Gold (CGO) with USDT pair at TSI 13.
- LBank listed Kusunoki Samurai (KUSUNOKI) in USDT pair at 9 ET.
- Immutable X (IMX) held a question-answer event in the morning.
- BitMart listed Tokamak Network (TON) with USDT pair at TSI 12.
- Callisto Network (CLO) will hold a question-answer event at TSI 20.
- Astar (ASTR) and Celer Network (CELR) will hold a question and answer event today.
- BSC Station (BSCS) and Mdex (MDX) are holding a joint question and answer event at TSI 17.
- Router Protocol (ROUTER) will hold a question-answer event at TSI 16 via Twitter Spaces.
- Ripple (XRP) announced its subsidiary with Portugal-based ProprHome.
What is the latest situation in the market?
Meanwhile, Koindeks.com As we have also reported, bankruptcy plans for the FTX exchange continue to affect the market. A lot has happened in the cryptocurrency space over the past few days. As expected, this affected prices. Bitcoin had skyrocketed to multi-week highs above $21,500 over the weekend.
While everything seemed adequate, Binance pointed to some irregularities in the balance sheets of FTX and Alameda. That’s why he announced his plans to divest his entire FTT stash. Thus, the first domino fell. Bitcoin dropped below $20,000 almost instantly with the statement two days ago. But this was only the beginning. The asset dropped to $15,500 on Bitstamp yesterday. Before that, it had dropped to $17,000. This was the new low since the end of November 2020.
Despite recovering more than $1,000 since then, BTC is still in the red. It is down 6.5 percent on the day. Market value has returned to $320 billion. Its dominance over altcoins is 38.4%. Ethereum went from $1,600 to about $1,100 in this timeframe. Although currently trading above $1,200, the second-largest crypto has experienced double-digit drops over the course of the week.