Crypto Prices Crash - Will Genesis, Grayscale and DCG Survive the FTX Collapse

The cryptocurrency market has been trading lower today. In the last 24 hours, the global cryptocurrency market capitalization has dropped by more than 2%, and it now stands at around $857 billion. The bear market is persisting despite recovering slightly from the collapse of FTX.

Crypto prices trade lower

The cryptocurrency market remains bearish today, and not much recovery has been seen since the collapse of the FTX exchange. The top-ten largest cryptocurrencies by market capitalization are all trading in the red today.

Bitcoin and Ether are down 2% and 3.37% in the last 24 hours to trade at $16,220 and $1,170, respectively, at the time of writing. BNB has registered the largest decline among the top-ten largest cryptos in the last 24 hours after dropping by 5.7% to trade at $294 at the time of writing.

XRP and Dogecoin have plunged 4.7% and 4.2%, respectively, to trade at $0.38 and $0.094, respectively. Cardano and Polygon have also plunged by nearly 3.9% and 4.1% to trade at $0.30 and $0.81 at the time of writing.

Cryptocurrency prices started a major downtrend following the collapse of FTX. While the FTX Chapter 11 bankruptcy case has already started, the cryptocurrency market is yet to settle, and the crypto market anticipates that a significant ripple effect could be on the way.

Will Genesis survive the crypto market crash?

Genesis, a crypto brokerage platform, halted withdrawals for its lending unit around two weeks ago. The company also alluded that if it fails to secure new funding, it will file for bankruptcy. The company has been attempting to secure $1 billion in funding from potential investors.

There were reports that Genesis was in talks to secure funding from Binance. The latter has created a $2 billion industry recovery fund. However, Genesis is yet to receive any funding.

On the other hand, the Grayscale Bitcoin Trust continues to lose value, trading at a massive discount on the spot price of Bitcoin. The digital asset management firm also refused to share the addresses of its wallets, citing security concerns. This has caused a stir in the crypto community, which is currently looking for transparency following the collapse of FTX.

Why this coin is launching at the perfect time

As the market remains anxious, crypto traders are looking for the next project they can invest in to guarantee that they generate notable returns. One of the best presales happening today is for Dash 2 Trade.

Dash 2 Trade is attracting a lot of attention because it is a platform that can be used by both beginner and experienced traders to make informed decisions about the crypto market. Given the recent collapse of FTX and the losses that happened thereafter, investors are looking for a reliable crypto signals trading platform, and D2T is the best choice.

The team behind Dash 2 Trade has brought the launch date for the platform closer. The beta version of this trading platform is almost ready for launch. The Dash 2 Trade presale has raised more than $7.3 million, and the hard cap has been revised to $7.3 million.

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