Daily Price Analysis of Bitcoin, Binance Coin, FTX Token and Algorand: Morning Prediction for October 12

The global crypto market has seen a decline in value as it was unable to maintain momentum. Recent changes for Bitcoin, Binance Coin and others show a negative trend. As the market has continued to experience uncertainty, there is a continuation of losses. The market has continued to fluctuate between positive and negative trends. As there is long-lasting uncertainty, there is a need for stability in the market. If the current situation persists, the market could continue to lose value.

A judge has approved the amicus curiae briefs filed in defense of Ripple, while the trial is expected in the first half of 2023. Judge Anissa Torres reportedly approved I-remit and Tapjet’s requests to file amicus curiae briefs to defend to Ripple Labs in the ongoing lawsuit SEC vs. XRP. The two had previously approached the US district court to file an amicus brief.

The app will have third parties provide evidence proving the usefulness of XRP in your daily business. However, the SEC had opposed the request on the grounds that Ripple might have influenced the details of the report. Ripple responded to this request by saying that the brief would help the court provide details that would not otherwise be available. The two companies will present an amicus curiae brief before October 14, 2022.

Here is a brief overview of the current market situation looking at the performance of Bitcoin, Binance Coin and others.

BTC again in losses

The Stratum V2 Bitcoin mining software is due to receive a major update soon. The new details show that the Bitcoin mining software will receive an update after 2012. The mentioned period has seen numerous changes, and this software needed an update. On the other hand, Grayscale has filed the opening brief in the Bitcoin ETF battle against the SEC.

Source: TradingView

Recent changes for Bitcoin show a negative trend as its value plummeted. The latest data shows that it has lost 0.50% in the last 24 hours. Weekly data shows that Bitcoin is down 4.75%.

The ongoing changes have brought the BTC price value to the $19,060.35 range. The market capitalization value for Bitcoin is estimated at $365,676,237,814. The 24-hour trading volume of this coin is approximately $27,580,575,978.

BNB recessionary

Binance has plans to invest $500 million in the purchase of Elon Musk’s Twitter. Changpeng Zhao, the outspoken CEO of renowned exchange Binance, has announced that he will allocate more than $1 billion for acquisition purposes.

BNUSDT 2022 10 12 18 13 09
Source: TradingView

The ongoing changes for Binance Coin also show a decline in value. The latest data shows that it has lost 0.95%. The weekly performance shows that it has lost 7.58%.

BNB price value has retraced to the $270.05 range. The market capitalization value of this coin is estimated at $43,596,768,136. The 24-hour trading volume of this coin is approximately $574,059,035.

FTT red

The performance of FTX Token has also turned bearish. Recent changes for this currency show a loss of 0.93%. The continuation of the losses has also affected its weekly behavior, since it has lost 5.58%. The negative swings have pushed the value of the FTT price to the range of $23.26.

FTTUSDT 2022 10 12 18 13 30
Source: TradingView

The market capitalization value for the FTX token is estimated at $3,118,296,214. The 24-hour trading volume of this coin is approximately $41,808,519. The same amount in your native currency is about 1,796,272 FTT.

somewhat bearish

Algorand’s value has also decreased due to the negative market trend. The latest data shows that it has lost 1.33% in the last 24 hours. Seven-day data for this coin shows that it has lost 10.09%. The price value of ALGO is currently in the range of $0.315.

ALGOUSDT 2022 10 12 18 15 02
Source: TradingView

Algorand’s market capitalization value is estimated at $2,220,276,639. The 24-hour trading volume of this coin is approximately $145,665,907. The circulating supply of this coin is approximately 805,595,928 NEAR.

final thoughts

The global crypto market has pulled back due to the negative market trend. Recent data shows that it has lost a considerable amount in the case of Bitcoin, Binance Coin and others. As the negative trend continued, the value of the global market capitalization also fell. The latest data shows that it is estimated at $920.70 billion.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com bears no responsibility for investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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