The crypto market seems to be enroute recovery now in the backdrop of the FTX debacle still settling down. Bitcoin on Tuesday, November 15, rose by 4.46 percent to trade at $16,668 (roughly Rs. 13.5 lakh). The first ever cryptocurrency also recorded price hikes of approximately five percent on international exchanges. As per Binance and Coinbase for instance, BTC values are hovering close to the price point of $16,736 (roughly Rs. 13.6 lakh).
Ether tailed behind Bitcoin to record small, but significant profits. With a gain of 6.30 percent, ETH prices have touched the price point of $1,253 (roughly Rs. 1.01 lakh), as reflected on the crypto price tracker by Gadgets 360.
“Peak volatility has returned to crypto markets as Bitcoin tested new lows with market indecisiveness and volatility currently playing out due to promising macroeconomic indicators. FTX mishandled user funds and had poor risk management policies leading to an industry wide fear reiterating the desperate need for transparency and regulation specifically surrounding stablecoin flows and their associated leverage,” the CoinDCX research team told Gadgets 360.
The global crypto market cap currently stands at $844.16 billion (roughly Rs. 68,60,802 crore) after having risen by 4.40 percent in the last 24 hours.
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