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Slight rise in crypto market despite Christmas, Bitcoin price below $17,000

There was a slight rise in the crypto market on Monday. In terms of market capitalization, the price of the largest cryptocurrency Bitcoin has increased by about 0.39 percent. It stood at $16,857. Despite Christmas, there was not much movement in the price of bitcoin. Its price remained almost the same on exchanges such as Binance, Coinbase and CoinMarketCap.

The second largest cryptocurrency Ether gained 0.08 percent. Gadgets 360 crypto price tracker As of now, its price was at around $1,220. Mudrex CEO, Edul Patel told Gadgets 360, “Bitcoin price has been facing resistance on both the upside and downside side over the past few days. Ether hasn’t gained enough strength to move higher. It is trading in a lower range.” Is doing. If there is an increase in both these cryptocurrencies from the current levels, then there can be an uptrend.

Apart from this, there was some increase in Tether, USD Coin, Ripple, Binance USD, Cardano, Polygon and Polkadot. The prices of Tron, Litecoin, Wrapped Bitcoin and Chainlink have also increased marginally. Binance Coin, Solana and Stellar were among the altcoins in decline. The value of the crypto market increased by 0.6 percent to about $ 812 billion.

The bankruptcy of FTX, one of the major crypto exchanges, has also had a major impact on this market in the past few weeks. Due to this, a large number of investors have distanced themselves from cryptocurrencies. ftx The funds of the clients were used by changing the software of The exchange’s chief engineer changed the code to allow Alameda Research, the firm of FTX founder Sam Bankman Fried, to sell its assets even if it took a loss on the borrowed money. This exemption allowed the firm to borrow funds from FTX regardless of the value of the collateral. This change in code has been caught by the US Securities and Exchange Commission (SEC). The SEC reported that Alameda Research was being given credit without any limit. Billions of dollars were loaned to the firm in secret over two years. Troubles for the exchange started last month when its balance sheet was questioned.  Download Link

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