Weekly Update
The Global Crypto Market Cap is up by 2.10% to $905.20B at the time of writing this article. Over the past 24 hours, the overall volume of the Cryptocurrency Market has increased by 20.73% to $56.42B.
DeFi’s total 24-hour volume is $3.83B, or 6.79% of the overall Crypto Market volume. All Stablecoin volume is currently $51.73B, or 91.68% of the 24-hour volume of the whole Crypto Market. The total 24-hour volume of DeFi and Stablecoin has increased drastically in comparison to last week.
Bitcoin was trading at $18,804.59 at the time of writing. According to data from CoinMarketCap, Bitcoin’s dominance is currently 40.06%, an increase of 0.60% from the previous day. In the last 24 hours, the price of ETH increased by 0.49% to $1,407.35, while the price of BNB went up by 0.95% to $287.99.
With the significant improvement in market conditions over the last week, predictions of the end of the extended Crypto Winter may be coming true.
FTX Recovers Over $5B in Assets
A bankruptcy attorney stated during a hearing Wednesday that crypto exchange FTX has recovered more than $5 billion in various assets, not including another $425 million in crypto held by the Securities Commission of the Bahamas. According to the attorney, there is still a sum owed to customers that is unknown.
After the company’s new leadership stated that it could only find slightly more than $1 billion on December 20, 2022, the announcement significantly increases the total FTX claims it holds. The total amount owed to creditors by FTX is still unknown. The company’s management checked the box indicating a figure between $1 billion and $10 billion in initial bankruptcy filings.
Bitcoin Reclaims 18K Levels
Bitcoin retook the $18K handle on Thursday morning, providing a boost to Bitcoin Strategy exchange-traded funds, which track the digital token’s price action through managed futures contracts. Aside from Bitcoin’s positive Thursday push, the crypto asset is also up +10% in early 2023. Investors are once again becoming bullish on cryptocurrency, with hopes of a new short-term rally.
