Digital currencies continue to rise and Bitcoin exceeds $ 17,000

The cryptocurrency market continued its bullish performance today, Sunday, despite continued concerns about the outlook for monetary policy and the economy in the United States.

Bitcoin, “the largest cryptocurrency by market value”, rose during today’s trading, by more than 0.21%, to 17.18 thousand dollars, at exactly 12:00 noon Abu Dhabi time, according to data from the “Coin Market Cap” website, which specializes in monitoring currency performance. digital. At the same hour of trading today, Ethereum – the second largest digital currency by market value – rose by approximately 0.98% to $1.27. Cardano rose 0.3% to $0.3130, and Cardano rose 0.29% to 0.3130 cents.

The global market capitalization of cryptocurrencies rose to $857.23 billion from $859.5 billion, according to CoinMarketCap data.

It is noteworthy that the digital currency market incurred significant losses, affected by the decline that dominated the performance of global stock markets in the wake of the turmoil in China as a result of citizens’ protest against the tightening of restrictions related to controlling the Corona virus.

The digital currency market was also affected by the application of the “Block V” platform for bankruptcy protection, with the spread of the collapse infection for cryptocurrency companies. Yesterday, the BlockV platform filed for bankruptcy in the United States, as part of the repercussions of the collapse of the FTX company earlier this month. The cryptocurrency exchange said, in a statement, that it had asked the court in New Jersey for bankruptcy protection in accordance with Chapter 11 of the US law.

The request indicated that Block V had more than 100,000 creditors, with liabilities and assets ranging from $1 billion to $10 billion. The platform stated in its bankruptcy filing that it provided a loan owed to the FTX platform in the United States in the amount of $ 275 million.

On the eleventh of last November, FTX filed for bankruptcy protection, after it was exposed to a severe liquidity crisis, and clients rushed to withdraw their money after reports of a huge gap between liabilities and assets.


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