On November 25, Bitcoin, the leading cryptocurrency, failed to break above the $16,800 level and began to fall toward the 38.2% Fibonacci retracement level. Similarly, Ethereum, the second most valuable cryptocurrency, has followed Bitcoin's lead and is currently trading bearishly toward $1,160.
The reason for the market's risk-off sentiment could be related to recent Hodlnaut updates.
According to Bloomberg news, the Commercial Affairs Department, the Singapore police's white-collar crime unit, is investigating Hodlnaut, a Singapore-based crypto lender that is currently under interim judicial management.
Major cryptocurrencies were trading unevenly early on November 25th, as the global crypto market cap fell 1% to $828.27 billion on the previous day. In contrast, the total crypto market volume fell 47% in the last 24 hours to $48.87 billion.
The overall volume in DeFi was $3.21 billion, accounting for 6% of the total 24-hour volume in the crypto market. The overall volume of all stablecoins was $44.98 billion, accounting for over 93% of the entire 24-hour volume of the crypto market.
Let's take a look at the top 24-hour altcoin gainers and losers.
BinaryX (BNX), Huobi Token (HT), and Stacks (STX) are three of the top 100 coins that have gained value in the last 24 hours. The BNX price has soared by more than 7% to $169, the HT price has grown by more than 5% to $5.65, and the STX price has increased by nearly 1.5%.
UNUS SED LEO (LEO), Klaytn (KLAY), and Arweave (AR) are three of the top 100 coins that have lost value in the last 24 hours, where LEO and KLAY have lost over 7% to trade at $3.88 and $0.17, respectively. At the same time, AR's price is down over 6% to trade at $8.95.
The current Bitcoin price is $16,418 and theRead more on cryptonews.com