Cryptocurrency prices were in the red with Bitcoin (BTC), Ethereum (ETH) trading with losses and other altcoins like Solana (SOL) also fell. Meanwhile, PAX Gold (PAXG), which is a gold-based crypto stablecoin, was the top gainer among cryptos today.
Binance (BNB) was the most trending crypto as it sold $500 million worth of FTT tokens over the weekend, which then triggered a fall in the value of the token and shattered the asset valuation of crypto exchange FTX, which largely consisted of its own FTT token.
The crypto market cap fell about 11.07 per cent to $913.66 billion and its trading volume was up by 140.47 per cent to $215.5 billion, according to data from Coinmarketcap.com at 8.50 am.
Today’s top gainer was PAX Gold (PAXG); it was up 2.04 per cent at $1,700.10. The top loser was FTX Token (FTT), which was trading at $5.34 with a loss of 76.03 per cent in the last 24 hours to Friday morning.
Bitcoin: BTC fell 11.65 per cent to $18,251.83.
BTC was trading with losses for the most part of November 8, but around 10 pm it recovered from its losses and started trading with gains. But as soon as the news of the FTX-Binance deal reached the public domain, BTC crashed from $20,578 to $17,606 in just four hours.
Its lowest intraday trading price was $17,603.54, while its volume was up by 136.7 per cent at $121,905,064,219.
Ethereum: Ethereum’s price fell 16.23 per cent to $1,307.11 in the last 24 hours to Wednesday morning.
ETH was exhibiting a similar trading behaviour as BTC and fell from the peak of $1,564 to about $1,259 by 1 am on November 9. ETH’s trading volume was up, while its price crashed.
The lowest price for ETH was $1,259.44. ETH’s trading volume was up by 199.74 per cent at $43,402,059,896.
Other Altcoins: Solana’s (SOL) price was down by 20.47 per cent at $22.76 today.
Ripple (XRP) was down by 14.89 per cent at $0.3879 and its 24-hour trading volume was up by 168.14 per cent at $4,168,457,428.
Cardano (ADA) was down by 9.92 per cent to $0.3642. Cardano’s 24-hour trading volume was up by 168.13 per cent to $1,479,002,495.
Binance (BNB) was down by 6.52 per cent to $319.34. Its 24-hour trading volume was up by 201.82 per cent at $5,534,166,651.
Dogecoin fell 22.9 per cent at $0.08344. Its 24-hour trading volume was up by 179.87 per cent at $3,618,112,455.
Shiba Inu was down by 13.24 per cent to $0.000009938.
Decentralised Finance (DeFi)
Yearn.Finance (YFI) fell 19.52 per cent to $6,419.47. Its 24-hour trading volume was down by 225.08 per cent at $87,658,421.
Avalanche (AVAX) was down by 13.72 per cent at $15.20 and its 24-hour trading volume was up by 177.57 per cent at $869,684,754.
Aave (AAVE) was trading with a loss of 17.56 per cent at $70.25 and its 24-hour trading volume was up by 97.51 per cent at $313,762,742.