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Crypto Market – November 14, 2022

Last week was the worst in five months. Bitcoin (BTC) lost 22% of its value in seven days. This happened during a terrible year for the blockchain industry, which was recently hurt by the FTX scandal.

The decline in BTC and stablecoin exchange reserves over the last several days indicates a lack of market confidence and the predominance of fear.

Expect price volatility throughout the crypto ecosystem as asset holders alter their portfolios due to contagion worries. Assets that are tied to FTX, like Solana and projects built on it, like Aptos, will likely be hit the hardest. Some retail customers who lost funds may exit the market, which will likely slow adoption.

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Over the past 24 hours, the price of Bitcoin (BTC) has been between $15,793 and $16,910. As of 9 a.m. UTC today, BTC is trading at $16,740, which is an increase of 0.74 percent.

  • Market Cap: $2,738,503,951,088.00
  • 24h Vol: $183,952,290,166.00
  • BTC Dominance: 50.90%

The worldwide cryptocurrency market value is $878 billion, down 1.27% in 24 hours and -70.41% year-over-year. Stablecoins’ market value is $146 billion, or 16.63% of the crypto market.

As of this writing, the major currencies are showing an incipient recovery. Ethereum has gained 1.2%, BNB has gained 1.8%, Solana has gained 3.4%, and Avax has gained 2.6%. On the other hand, Shiba Inu and Tron are down 1.5% and 4.6%, respectively.

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$AVAX, $BNB, $SHIB, $SOL, Bitcoin, Crypto market, Cryptocurrencies, Ethereum, Tron

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