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📈 30 Second Cryptocurrency Price Summary
Current Bitcoin Price: $20,078
Bitcoin reached price has seen a turbulent 24 hours of trading, most recently recovering above the $20,000 mark following Binance’s possible FTX acquisition.
Top-20 altcoins have mostly continued to fall, with the exception of BNB and Chainlink, which has each surged 7%.
Top Stories for November 8, 2022 🔥
👉 Binance Signs Non-Binding Letter Of Intent To Acquire FTX
Binance CEO Changpeng Zhao has announced that Binance has signed a non-binding letter of intent (LOI) to fully acquire FTX, following a request for help by the struggling exchange.
Zhao has described the situation as “highly dynamic” and will be conducting due diligence over the next several days – with ability to pull out from the deal at any time.
👉 FTX Stops Processing Withdrawals, According To On-Chain Data
All eyes remain on crypto exchange FTX as the platform appears to have halted withdrawals, according to on-chain data.
The last clear transaction leaving the exchange was processed at 6:37 a.m. Eastern Time, according to Etherscan, as well as Tron and Solana block explorers.
The platform’s native FTT token has taken a significant dive overnight, down almost 37% over the last 24 hours – bringing further attention to insolvency rumors.
👉 Crypto Sees $344 Million In Liquidations As BTC, ETH Fall
FTT isn’t the only token that’s been affected by the FTX drama, as the total crypto market cap sheds $48 billion in value.
More than $344 million in leveraged trading liquidations have occurred over the last 24 hours, as almost $87 million in Ether positions are liquidated, as well as over $70 million in Bitcoin positions were forced to cover losses.