NEM Pumps 30%, Bitcoin Price And Ethereum Prediction
Even though it is still consolidating in a narrow trading range of $15,800 to $17,200, Bitcoin is trading bearishly due to the ongoing volatility in the market. The second-most-valuable cryptocurrency, Ethereum, is also trading in a narrow range, between $1,175 and $1,280.
Early trading on November 21 showed major cryptocurrencies trading in the red, with the crypto market value falling roughly 4% to $803 billion. However, the total volume of the cryptocurrency market has surged by 59% in the last 24 hours, to $52.85 billion.
DeFi had a 24-hour volume of $4.60 billion, or 8% of the entire 24-hour volume in the cryptocurrency market. But the total volume of all stablecoins was slightly over $51 billion, making over 97% of the whole 24-hour volume of the crypto market.
Let’s check out the top altcoin gainers and losers during the past 24 hours.
The Best and Worst Performing Altcoins
Just three of the top 100 cryptocurrencies by market cap during the past 24 hours are NEM (XEM), UNUS SED LEO (LEO), and BinaryX (BNX). The price of NEM has increased by over 4% to $0.035, while three of the top 100 coins, including Chiliz (CHZ), EthereumPoW (ETHW), and NEAR Protocol (NEAR), have decreased in value over the past day. At today’s prices of $0.1930, CHZ has dropped by over 15%. Over the past day, ETHW has dropped by more than 13%, to a price of $3.20.
An FTX exploiter converted $50,000 worth of ether to bitcoin, causing the price of ether to fall by 6%.
On November 20, the FTX Exploiter account was used to transfer the initial portion of the stolen funds, which, at current exchange rates, are worth more than $60 million.
The hacker moved a total of 25,000 ETH from one wallet to another in a time frame of about four hours. Preceding this were transfers totaling 5,000 ETH, then 10,000 ETH twice, and finally 25,000 ETH.
Given that the new ‘0x866’ wallet now contained ETH worth $60 million, the FTX Exploiter began bridging a portion of the 50,000 ETH using RenBridge, a blockchain bridging tool supported by Alameda Research.
The FTX Exploiter maintained trading ETH for renBTC, eventually amassing 692 renBTC from the initial 50,000 ETH. There were more than 10 ether (ETH) and 0.092 renbitcoin (renBTC) in the ‘0x866’ wallet, which, at press time, was worth roughly $13,000.
A Bitcoin Price Chart, Courtesy of Tradingview
Bitcoin’s first line of defense is at $15,800, thus a drop below this level could pave the way for further selling till $15,800. A further breakdown below $15,800 might, however, put BTC at risk of falling to $14,550.
Cost of Ethereum
Ethereum has a 24-hour trading volume of $11 billion at its current price of $1,129. Ethereum has dropped approximately 7 percent of its value in the last day. CoinMarketCap is now ranked 2nd with a market cap of $138 billion. There are currently 122,373,866 ETH in circulation.
The entire market is still under selling pressure as a result of concerns about the FTX-related issue.
The Value of Bitcoin
Trading volume for the past 24 hours totaled $28 billion, while the price of Bitcoin was $16,112. More than 3% of Bitcoin’s value has been lost in the last day. A live market cap of $309 billion, down from $352 billion, places CoinMarketCap in top place at the moment.
There are a total of 19,213,150 Bitcoin in circulation and a maximum supply of 21,000,000 Bitcoin.
The Current Ethereum Market and Token Economics – CoinMarketCap
As shown on the 4-hour time frame, Ethereum is fighting back to the $1,100 mark. ETH/USD has broken through the bottom of a symmetrical triangle, suggesting the downturn may be continuing with increased momentum.
The 50-day moving average has extended to a big resistance level at $1,215, and it is likely to operate as a major resistance level below a previously violated triple bottom on the upside. Tradingview’s Price of Ethereum Chart
If the ETH/USD pair closes below $1,075, it could test the $1,000 and $999 support levels.
Increase in NEM Pumping Efficiency by 30%
There was a total of $62 million traded in NEM in the past 24 hours, at the current price of $0.03461. The value of NEM has risen by more than 3.50% in the past 24 hours and more than 30% in the past 7 days. CoinMarketCap is currently ranked #85 based on its current market cap of $311.1 million. To date, 8,999,999,999 XEM coins have been produced. Tradingview’s NEM Price Chart
The technical picture for NEM shows that it has broken out over the $0.030 resistance level, which might lead to more bullish trends if the price action of the coin continues to close candles above this level.
Increased demand might push NEM prices higher to $0.048 or $0.050 if the cryptocurrency breaks above its immediate resistance around $0.040.
High-Profit Potential Cryptocurrency Available for Pre-Sale
The Learn 2 Trade service’s Dash 2 Trade (D2T) provides investors with market insights, trading signals, and prediction services. The cryptocurrency project claims to provide buyers with enough data for informed purchases.
D2T, built on the Ethereum blockchain, is a trading intelligence platform that provides traders of all experience levels with real-time statistics and social data.
D2T has only been selling tokens for three weeks, yet they have already brought in almost $6.7 million. In addition, it declared the debut of its CEX listing on the LBank exchange. The present value of 1 D2T is $0.0513 USDT, but this is predicted to climb to $0.0533 in the following stage of sales and $0.0662 in the final stage.