Cryptocurrency Price Today: Bitcoin, Top Coins See Bloodbath Following Binance CEO’s Money-Laundering Admissions
Cryptocurrency price on November 22 quick take: The global market cap dipped to $1.38 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, dipped below the $37,000 mark early Wednesday as news came in of Binance CEO Changpeng Zhao stepping down after admitting to money laundering. Popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE) — landed in the reds across the board. It can largely be expected that the market will have to tackle uncertain waters in the coming days. The FTX Token (FTT) emerged to be the biggest gainer, with a 24-hour jump of 12 percent. PancakeSwap (CAKE), on the other hand, became the biggest loser, with a 24-hour dip of over 15 percent.
The global crypto market cap stood at $1.38 trillion at the time of writing, registering a 24-hour loss of 2.96 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $36,406.93, registering a 24-hour dip of 2.86 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 32.36 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,982.32, marking a 24-hour dip of 1.74 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.74 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 3.66 percent, as per CoinMarketCap data, currently priced at $0.07429 As per WazirX, Dogecoin price in India stood at Rs 6.57.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 3.09 percent. At the time of writing, it was trading at $67.62. LTC price in India stood at Rs 6,059.68.
Ripple (XRP) Price Today
XRP price stood at $0.5942, seeing a 24-hour loss of 3.25 percent. As per WazirX, Ripple price stood at Rs 52.11.
Solana (SOL) Price Today
Solana price stood at $54.34, marking a 24-hour dip of 3.11 percent. As per WazirX, SOL price in India stood at Rs 4,929.99.
Top Crypto Gainers Today (November 22)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
FTX Token (FTT)
Price: $3.55
24-hour gain: 12.18 percent
dYdX (ETHDYDX)
Price: $3.19
24-hour gain: 4.05 percent
Klaytn (KLAY)
Price: $0.1831
24-hour gain: 1.80 percent
PAX Gold (PAXG)
Price: $1,981.03
24-hour gain: 0.57 percent
Tether Gold (XAUt)
Price: $1,996.78
24-hour gain: 0.54 percent
Top Crypto Losers Today (November 22)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
PancakeSwap (CAKE)
Price: $2.29
24-hour loss: 15.64 percent
Gala (GALA)
Price: $0.02305
24-hour loss: 13.80 percent
Binance Coin (BNB)
Price: $228.97
24-hour loss: 13.45 percent
Trust Wallet Token (TWT)
Price: $1.07
24-hour loss: 13.07 percent
Algorand (ALGO)
Price: $0.1265
24-hour loss: 10.99 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin is presently trading above the $36,100 level, as the initial anticipation surrounding the approval of a Bitcoin Spot ETF reduced amidst increased regulatory scrutiny in the US. There is now a growing possibility that the potential approval might be postponed until 2024. Ethereum is currently trading near the $2,000 mark, Meanwhile, Altcoin Avalanche has witnessed noteworthy growth, exceeding 12 percent in the last week.”
CoinSwitch Markets Desk said, “Bitcoin (BTC, -3.4 percent) went as low as $35,500 due to the Binance news but bounced back and is currently trading around $36,500. Major resistance now lies around $37,500. While Binance Coin (BNB, -11.5 percent) was amongst the loss-making cryptos in the past 24 hours, it was not the highest loss-making crypto which surprised crypto investors; CAKE registered a loss of 12.3 percent. Even after the news of the Binance CEO stepping down and pleading guilty to the charges applied to them, BNB has fallen from $270 to $233. With the BNB coin falling in value, DEX-based tokens, especially SNX (+2.4 percent) and DYDX (+7.0 percent) may start seeing some more traction.”
Rajagopal Menon, Vice President, WazirX, said, “In just 24 hours, the Crypto market has seen prices falling due to a leadership reshuffle at Binance, one of the largest exchanges globally. This followed after money laundering charges on the company which also took the price of its native token down by almost 12 percent. This move, following the crackdown on Kraken Exchange and FTX trial, might create an atmosphere of uncertainty in the ecosystem which was showing some much-needed optimism in the last few weeks. The market hasn’t suffered a significant blow in terms of token prices. The anticipation of the ETF approval for key tokens such as BTC and ETH might neutralize the ongoing developments. On the other hand, Ethereum is eyeing a $2200 support level. Popular projections indicate a price upswing for ADA and XRP.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Binance founder Changpeng Zhao steps down as CEO and pleads guilty to financial violations. The Justice Department fines Binance $4.3 billion citing violations, including involvement in illegal groups. Richard Teng takes over as CEO and Binance has to exit the US market. Bitcoin is at $37,240, up a modest 0.13% amid consolidation. Immediate barriers at $37,574 and solid support at $36,342 shape its current trend. The Relative Strength Index (RSI) at 58 indicates a balanced presence of buyers with the potential for more upside. The market is closely watching the $37,574 level; a break above it may signal continued bullish momentum, but a drop below $36,342 could trigger a reassessment of the bullish outlook.”
Shivam Thakral, CEO of BuyUcoin, said, “The crypto market saw a knee-jerk reaction after the news of Binance's CEO stepping down became public. The overall crypto market cap dipped below the $1.4 trillion mark with BTC and ETH slipping by 2 percent each. The tussle between crypto giants like Binance and the US government may have a psychological impact on the crypto community across the globe. The market is expected to remain choppy in the coming weeks.”
CoinDCX Research Team told ABP Live, “The crypto market experienced a downturn following Binance CEO CZ's resignation. Initially, BTC dropped to ₹31,83,000 ($35,600) but later recovered, stabilising slightly above ₹32,55,000 ($36,400). Similarly, ETH dipped to ₹1,71,500 ($1,930) and then rebounded to ₹1,76,300 ($1,980). Although the market has seen a small bounce back, with altcoins gaining momentum, BTC faces a technical challenge, needing to break and stay above $38,000. On the downside, $32,000 is a crucial support level. ETH encounters two resistance levels at $2,018 and $2,130 for a potential upward move. On the downside, $1,900 and $1,850 are important levels. In broader economic news, the US Fed Meeting Minutes indicated a cautious policy stance without suggesting a rate cut. ”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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