HitBTC Weekly Digest - November 21, 2022

Stella Rossi

Nov 21, 2022 • 2 min read

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.

BTC opened the week on November 14 at $16,352 and closed on November 20 at $16,292 - a modest decline of 0.4%. ETH price declined from $1,222 to $1,142 - a decline of 6%.

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.

If you haven't already done so, please don't forget to download our trading app on Android and iOS. And remember: crypto winter is the best time to start building your portfolio!

Cheers,

HitBTC team