HitBTC Weekly Digest – November 21, 2022

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:

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