The price of Bitcoin continued to rise slightly today, Thursday, as the most widely used cryptocurrency in the world saw an increase in its value for the second day in a row, with an increase of 1.57%, and Bitcoin is currently trading at $26,560, over the past 24 hours, according to the gadgets360 website.
The value of Bitcoin has skyrocketed by $623. The rise in the values of Bitcoin and most other cryptocurrencies may be linked to the news of the collapse of the FTX exchange, which has received legal approval from a US court to sell crypto tokens worth billions of dollars to raise money to repay creditors who suffered the brunt of the FTX collapse.
ETH joined Bitcoin and recorded a price increase today, Thursday. At the time of writing, the value of ETH reached $1,620, an increase of 2.06% from Wednesday’s price. The total value of the cryptocurrency market decreased by 1.22% over the past 24 hours to 1.04 trillion. Dollars according to CoinMarketCap.
Bankrupt FTX exchange has received court approval to liquidate its crypto assets, valued at more than $3.4 billion. Judge John Dorsey's decision allows FTX to continue selling its holdings and hedging, while there are some expectations of additional selling pressure due to FTX's activities. Experts believe this may... Already factored into current market prices, more importantly, a significant portion of FTX's assets are in Solana, but most of them are staked and not available for sale, alleviating concerns.
Altcoins that saw their prices rise included Tether, Binance Coin, Ripple, Cardano, Dogecoin, and Solana.