Ethereum

Solana

Bitcoin

The global digital asset market experienced a downturn on Friday as major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) saw price drops of 3% and 2%, respectively. The cumulative crypto market cap declined by over $40 billion in the last 24 hours, with the significant market development being the conviction of Sam Bankman-Fried (SBF), founder of the collapsed crypto exchange FTX, on all seven criminal counts against him. SBF conviction behind recent crypto fall? 
Despite <a href="https://news.todayq.com/cathie-woods-ark-invest-bullish-on-bitcoin-amid-potential-bitcoin-etf-approval/" rel="noopener noreferrer nofollow">major gains in the cryptocurrency</a> market over the past 30 days, with Bitcoin breaching the anticipated $35,000 price level, <a href="https://news.todayq.com/lawyer-fumes-at-people-who-support-sbf-and-his-parents/" rel="noopener noreferrer nofollow">SBF’s conviction</a> has dampened investor enthusiasm. Lookonchain, an on-chain tracker, reported that FTX executed several significant transactions to sell assets.
According to Lookonchain’s data, FTX transferred a substantial 1.1 million Solana (approximately worth $42.35 million) in the last 24 hours for selling. Additionally, the exchange moved 7,183 Ethereum (approximately worth $13 million) during the same period. The data suggests that the collapsed crypto exchange had transferred more than $221 million worth of crypto assets as of November 3, 2023.
Solana (SOL) witnessed a nearly 10% drop in price in the last 24 hours, trading at an average price of $39.04 at press time. Its 24-hour trading volume declined by 33% to $2.55 billion. Meanwhile, Ethereum’s price, down by 2%, traded at an average price of $1,788 at press time. Will it drop ahead? 
As reported a New York Jury found SBF guilty of all seven criminal charges against him. He was convicted of wire fraud and conspiracy to commit wire fraud against FTX users and Alameda Research lenders. It also includes conspiracy to commit securities fraud and conspiracy to commit commodities fraud against FTX investors
Lookonchain’s analysis of FTX/Alameda addresses revealed wallets holding approximately $619 million worth of crypto assets. Additionally, analysis of three FTX addresses on Solana indicated holdings of around $1.7 billion worth of crypto assets. These developments suggest that crypto traders may anticipate further market downturns in the near future.
© Todayq News

Crypto market prints red amid SBF Conviction: Will it Dip More?

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