As the first week of December closes, the crypto winter persists with the prices at an extreme low. Bitcoin maintains its price at $17,000, Ethereum only gained $1,200, and BNB by Binance dropped to $280, will the digital market recover by end of the month?
The new year is only 20 days away yet the crypto market isn’t ready to celebrate. With FTX investigations going deeper and firms going to default, the public interest in investing in virtual currencies seems to have lessened.
Over the week, Bitcoin (BTC) only managed to gain 0.97% while showing red-line movements. The world’s largest cryptocurrency market cap is down by $329B with a 10.03% trading volume loss in the last 24 hours.
Ethereum (ETH) also hasn’t seen a peak in the last 7 days. The current price of ETH is $1,260 with a high of $1,290 at the time of writing. Although its NFT marketplace did see the hype over two new collections, the crypto prices didn’t improve much. The second-largest virtual currency has lost 21.01% of its 24h trading volume.
Binance coin (BNB) recently dropped in value after the new AUP report revealed it was overcollateralized to 101%. BNB coin lost 1.30% in 7 days and currently trades at $286 with a high of $291.
On the other hand, Ripple Labs is done with its lawsuit in SEC as it recently made the final submission and awaits judgment from the court. Its native coin XRP currently trades at $0.3879.
Other crypto coins: DOGE -2.54%, Cardano (ADA) -1.75%, MATIC -1.77%, DOT -5.21%, Solana (SOL) +0.52%.