Last week showed signs of market stabilisation after the panic following FTX demise.
- Crypto volatility index (CVI) declined from the highest point of 125 on November 9, when FTX filed for bankruptcy, to 98 on November 26.
- Total market capitalization continued to decline but at a slower pace. The market cap at the end of the day, November 20, was $820 billion.
Last week’s altcoins performance:
- Top gainers: LEO (19.3%), XEM (14.1%), OKB (11.9%).
- Top losers: NEAR (20.3%), SOL (18.4%), ETHW (17.7%).
What else happened:
- Twitter unblocked the US ex-president Donald Trump’s account. Last week Mr. Trump announced his 2022 presidential campaign kick off. Mr. Trump is not positive on crypto.
- FIFA World Cup 2022 kicks off at Qatar late Sunday night. Watch out for fan tokens!
- The major stock market indexes are down for the week after a Fed official indicated potential further interest rate increases. Evidence shows that crypto is recently more correlated to tech stocks than in the past.
New listings on HitBTC:
- Hashflow (HFT) – a native token for the Hashflow protocol as well as the Hashverse, Hashflow’s gamified DAO and governance platform. HFT is a BEP-20 token.
- Bitcoin Standard Hashrate Token (BTCST) – BEP-20 token, collateralized by Bitcoin’s (BTC) hashrate, with each token representing 0.1 TH/s of Bitcoin mining power at an efficiency of 60 W/TH. As such, miners contribute their computational power to the platform in exchange for newly minted BTCST tokens.
- BENQI (QI) – a native token of BENQI, a decentralized non-custodial liquidity market as well as a liquid staking protocol built on the high-speed Avalanche smart contract network.
What else on HitBTC:
- eCash (XEC) is now available for deposits and withdrawals.
- HitBTC will support StormX (STMX) swap. Expect official announcement soon.
Coming soon to HitBTC:
Standard Protocol (STND) – a governance token of Standard, self-sovereign decentralized reserve bank.