The cryptocurrency market has shown a slight recovery Bitcoin, the major cryptocurrency, gained more than 2.5% to $16,815 after getting rejected at the $17,250 resistance level. Similarly, EthereumThe second most valuable cryptocurrency is rising, reaching $1,286 after violating a symmetrical triangle pattern.
Major cryptocurrencies were trading positively early on December 1, as global crypto market The capitalization increased by 0.56 per cent to USD 861.06 billion on the previous day.
In the last 24 hours, the total crypto market volume increased by 5.03 percent to $49.73 billion. The total DeFi volume was $3.43 billion, which was 6.90 percent of the total 24-hour volume in the crypto market.
The total volume of all stable coins was $47.01 billion, which was 94.53 percent of the total 24-hour volume of the crypto market.
Let’s take a look at the top 24-hour altcoin gainers and losers.
Top Altcoin Pros and Cons
GMX (GMX), polygon (matic), and Zcash (ZEC) are three of the top 100 coins that have gained value in the last 24 hours. GMX is up more than 12% to $48.80, MATIC is up more than 6% to $0.9275, and ZEC is up almost 5.5%.
AppCoin (APE), Phantom (FTM)And Helium (HNT) There are three of the top 100 coins whose value has decreased in the last 24 hours. While APE has lost over 7% to trade at $3.97, FTM is down around 2.25% to trade at $0.2345. At the same time, the price of HNT is down over 3% to trade at $2.45.
Kraken will lay off 30% of its global workforce
according to a corporate blog post Published on Wednesday, US-based cryptocurrency exchange Kraken will lay off 30% of its global workforce or more than 1,100 individuals to “adjust to current market conditions”.
Since the beginning of the year, financial markets have been under pressure due to macroeconomic and geopolitical factors.
Kraken wrote.
“As a direct result, we saw a sharp decline in trading volume and new client sign-ups. Unfortunately, bad things are happening in the market, and we used all good methods of changing prices to meet demand. Have done.”
As a result of these layoffs, Kraken’s overall workforce is back to where it was a year ago, the business claimed.
after recent Failure of cryptocurrency exchange FTX.com In the Bahamas, which has dragged down cryptocurrency markets and threatened businesses with exposure to FTX (including crypto lender BlockFi Inc., which filed for bankruptcy this week), Kraken has taken action.
Auros Global misses DeFi payment due to FTX transition
Cryptocurrency trading firm Auros Global appears to have been infected by the FTX virus after failing to make principal repayments on a 2,400 wrapped ether (wETH) decentralized finance (DeFi) loan.
On November 30, M11 Credit, an institutional credit underwriter that oversees the liquidity pool at Maple Finance, tweeted to its followers that Auros failed to make principal payments on a 2,400 wETH loan worth approximately $3 million.
According to M11 Credit, Auros is facing a “short-term liquidity crisis as a result of the FTX bankruptcy”, with the company being in constant contact with its borrowers, particularly in light of recent events.
Maple Finance retweeted the thread, but algorithmic trading and market-making business Auros has yet to respond to M11 Credit’s claims.
M11 Credit has also said that the loan has not defaulted because of the delayed payment. Instead, a “5-day grace period as per smart contracts” has been activated due to late payments.
This means that the deadline for Auros to make late payments and avoid default is December 5.
Given this news, the market is still deciding whether to maintain the bullish trend or wait for a correction.
bitcoin price
the current bitcoin price is $16,815, and the 24-hour trading volume is $24 billion. During the past 24 hours, the BTC/USD pair has gained approximately 2.5%, while coinmarket cap is currently ranked #1 with a live market cap of $323 billion, down from $323 billion yesterday.
It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,220,518 BTC coins.
BTC/USD It is trading with a bullish bias on Thursday, but it has reached an overbought zone, and a double top pattern is forming with increasing resistance near the $17,255 level. A bullish breakout of the $17,255 level could take bitcoin towards the next $17,600 and $18,000 resistance levels.
There is a possibility of a bearish correction below $17,250 as the RSI and MACD are in the overbought zone. On the downside, an immediate support for bitcoin lies at $16,700, which could slide as low as $16,250.
ethereum price
current price of Ethereum $1,286, with a 24-hour trading volume of $8 billion. In the last 24 hours, Ethereum is up about 1%. Coinmarketcap is currently ranked #2 with a live market cap of $157 billion. It has a circulating supply of 122,373,866 ETH coins.
4 hour time frame, Ethereum It is trading strongly, but it is now facing a strong resistance near the $1,310 level. The formation of the tweezers top pattern is weakening the bullish trend and this could lead to a bearish correction in the market.
On the downside, an immediate support for Ethereum is likely near the $1,225 level, with a drop as low as $1,150.
On the other hand, a bullish break above the $1,310 level could expose ETH price towards the $1,354 level.
Huobi Token Pumps Over 25%
Huobi Token is now trading at $6.85 with a 24-hour trading volume of $16B. The Huobi coin is down 1.5% over the past 24 hours, but is up over 25% over the past seven days. CoinMarketCap is now ranked #39 with a live market cap of $1,050,454,242 USD. There are 153,357,694 HT coins in circulation, with a maximum supply of 500,000,000 HT coins.
On the technical front, ht/usd The pair is facing immediate resistance at $7.40, with a break above this level potentially exposing the HT $8.35 level.
On the upside, a break above $8.35 has the potential for a move to $9. On the other hand, a bearish breakout of the $6.6 level could trigger selling towards $6.10 or even $5.10.
Presale cryptocurrency with massive profit potential
Dash 2 Trade (D2T)
Dash 2 Trade is an Ethereum-based trading intelligence platform that provides real-time analytics and social data to traders of all skill levels, allowing them to make better-informed decisions. The platform will go live in the first quarter of 2023, providing investors with information to help them make proactive trading decisions.
Dash 2 trading has also been successful, with two exchanges (LBank and BitMart) pledging to list the D2T token after the pre-sale is complete. 1 D2T is currently worth 0.0513 USDT, but at the end of the sale, it will increase to $0.0533.
D2T has raised over $7.6 million to date, selling over 87% of its tokens.
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