11/30/2022
⚡️🚨Last week proved challenging to the cryptocurrency market. FTX, one of the industry’s largest crypto trading platforms, filed for bankruptcy on Friday after its competitor Binance reversed its decision to bail the exchange out from a cash shortage.
⚡️After plunging deeply during the week, the primary digital coins stabilized on Saturday. Bitcoin traded at $16,800, whereas Ethereum was $1,260. One notable exception among losing crypto tokens was Dogecoin, immune to the fortune’s downturns in the crypto market thanks to the support of Tesla’s boss. After Elon Musk mentioned Dogecoin in the Twitter Space conversation, it soared by 10%.
⚡️Will Bitcoin, Ether, and other altcoins weather FTX’s bankruptcy and emerge from this unpleasant event unscathed? Will the crypto market soon gain strength?