The global crypto market has seen a trend of gains over recent hours. The performance of Bitcoin, Binance Coin, and others shows there has been a considerable improvement. As the market has continued to attract gains, there has been an increase in investor trust. The influx of capital is likely to improve the market value, which has faced severe fluctuations. The year 2022 didn’t prove good for the crypto industry because of the collapse of major names and continuous losses.
The Bahamian regulator has released the details of the seized assets from FTX. The Securities Commission of Bahamas has announced that it has seized $3.5 billion worth of crypto assets from the now-bankrupt exchange. As per a media release issued recently, the Bahamian authority had said that the total amount taken from the FTX’s Bahamian subsidiary had been moved to digital wallets for safekeeping.
The commission had previously released a statement regarding the acquisition of assets but hadn’t disclosed the details of their value. According to the regulator, the funds were valued at over $3.5 billion based on market assessment. These assets were taken into custody following the company’s filing for Chapter 11 bankruptcy. Furthermore, these funds are to be kept in custody on a temporary basis.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC gains momentum
Valkyrie has submitted a proposal to manage Grayscale’s Bitcoin Trust. Crypto assets manager Valkyrie Investments has unveiled a proposal to become the sponsor and the manager of the Grayscale Bitcoin Trust and other relevant organizations. The situation of various Bitcoin miners and derivatives companies has worsened over the year 2022.
The performance of Bitcoin has seen improvement over recent hours. The latest data shows that it has added 0.72% in a day. In comparison, the weekly performance shows that Bitcoin has shed 1.41%.
The price value of BTC is currently in the $16,595.79 range. The market cap value of Bitcoin is estimated to be $319,387,960,093. The 24-hour trading volume of Bitcoin is about $14,533,729,111.
BNB regaining value
Binance.US deal with Voyager might fall under federal committee review. A deal between Binance.US and Voyager may fall under review by the committee on foreign investment in the United States. The statement regarding this review was issued by the court regarding this matter.
The performance of Binance Coin has also shown improvement. The latest data shows that it has added 1.35% over the last 24 hours. The seven-day data shows that it has added 1.05%.
The price value of BNB is currently in the $246.93 range. The market cap value of this coin is estimated to be $39,499,381,492. The 24-hour trading volume of the same coin is about $338,160,351.
ADA on rise
Cardano has also been on the rise due to the continuing influx of capital. The latest data shows that it has added 2.59% over the last day. The weekly performance shows a loss of 4.20%. The price value of ADA is currently in the $0.2476 range.
The market cap value of Cardano is estimated to be $8,543,593,934. The 24-hour trading volume of this coin is about $131,649,334. The same amount in its native currency is about 532,221,681 ADA.
TRX resuming the positive trend
Tron has also resumed its gains as it continued to attract capital. The latest data shows that it has added 1.92% in 24 hours. The seven-day data shows that it has added 1.08%. The price value of TRX is currently in the $0.05498 range.
The market cap value of Tron is estimated to be $5,056,139,639. The 24-hour trading volume of this coin is about $142,600,714. The circulating supply of the same coin is about 91,964,921,109 TRX.
Final Thoughts
The global crypto market has seen a trend of gains over recent hours. The performance of Bitcoin, Binance Coin, and others shows that there has been a continuous positive trend. As the market has continued to attract gains, there has been an improvement in investor trust. The global market cap value has also improved. The latest data shows that it is estimated to be $797.79 billion.
