Bitcoin slips down below $16k mark meanwhile Brazil awaits approval of new Crypto bill.
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Cryptocurrency prices today : Bitcoin slips below $16K meanwhile dogecoin tanks 11%
The price of Bitcoin, the biggest and most well-known digital asset in the world, was trading more than 4% down today at $15,973, falling below the $16,000 threshold. On the other side, Ether, the second-largest cryptocurrency and coin connected to the Ethereum blockchain, fell by more than 8% to $1,118.
The market valuation of all cryptocurrencies fell below $1 trillion today, falling over 5% in the past 24 hours to $828 billion, as cryptocurrency prices struggled amid the protracted crisis brought on by Sam Bankman-collapse Fried's of his once-dominant FTX empire.
Ethereum, on the other hand, also experienced a weekend decline of 8%. If the selling pressure continues, ETH might fall to $1,080. ETH will probably continue to pose a bearish danger as long as the price stays below the trendline.
Meanwhile, dogecoin price today was trading over 11% lower at $0.07 whereas Shiba Inu was also down over 7% at $0.000008.
The top 50 creditors are owed close to $3.1 billion by the bankrupt FTX.
Without naming them, the exchange stated in a court statement on Saturday that its top ten debtors are owed almost $1.45 billion.
The cryptocurrency exchange FTX claims it owes its 50 largest creditors close to $3.1 billion and has applied for bankruptcy court protection in the United States.
Without naming them, the exchange stated in a court statement on Saturday that its top ten debtors are owed almost $1.45 billion.
In one of the most publicised crypto meltdowns, FTX and its affiliates filed for bankruptcy in Delaware on November 11. As a result, an estimated million consumers and other investors are expected to have lost billions of dollars.
The cryptocurrency exchange announced on Saturday that it has started a strategic evaluation of its worldwide assets and is putting some firms up for sale or reorganisation.
With the FTX case gone wrong, platforms like Binance to Crypto.com are having a tough time to reassure markets about their stability.
Bill Regarding Brazilian Cryptocurrency Appearance Following General Election
The Brazilian cryptocurrency bill, which aims to set explicit mining standards, regulate the behaviour of cryptocurrency exchanges and custody agents, and more, will be on the Chamber of Deputies' agenda next week. On November 22, the bill will be discussed after it was put on hold prior to the general election on October 20.
The bill is listed as the fourth item to be discussed during that session, so if the chamber decides it is significant, it may be discussed and put to a vote. The daily schedule can be changed, however, and the bill discussion can be put off.
FTX, one of the biggest cryptocurrency exchanges, had its withdrawals suspended, and this led to its bankruptcy, which caused a number of people in the Brazilian cryptocurrency industry to debate the relevance of the bill's passing. Brazilians have already planned legal action across several jurisdictions, making their country the tenth most affected by the FTX fiasco, according to some sources.