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George Georgiev



Articles by George Georgiev

Aptos Leads L1 Trade With 130% Gains, Bitcoin Bulls Fight For $23K, Sentiment Improves: This Week’s Recap

7 days ago

The market sentiment continues to improve as cryptocurrencies see another week of trading in the green. The market added around $70 billion to its total capitalization, while the overall sentiment is at a 10-month high.
It’s interesting to note that Bitcoin’s dominance continues to increase. This means it fared better than altcoins in terms of price performance. The leading cryptocurrency managed to add around 9% and is now battling for the important level at $23,000. A couple of days ago, the price pushed toward $24K aggressively but was immediately rejected in what were a few hours of massive volatility.
Macroeconomic data, according to many, favors risk-on assets as inflation is slowing down, the US GDP numbers were better than expected, and today’s PCE was in line with

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3 Reasons Why Aptos Exploded by 400% in 30 Days

8 days ago

Aptos is undoubtedly the hottest story of the past month, being amongst the absolute best-performing cryptocurrencies in the past 30 days. APT, its native token, skyrocketed by a mind-blowing 400% during that period.
This put the project at the forefront and also gave way to a renewed layer-1 trade narrative, with other names also popping off.
You can check our complete guide on Aptos in the following video:
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That said, there are a few reasons which explain the increase in APT’s price, so let’s dive in.
The Entire Market Rallied
Undoubtedly the biggest reason for APT’s increase is the fact that the entire cryptocurrency market saw tremendously renewed interest since the beginning of 2023.
The total market capitalization is up by about $250 billion in that

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How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

9 days ago

Ethereum Liquid Staking tokens are going through the roof. Lido is up 150% in a month, similarly Frax Shares, while other protocols, such as Rocket Pool, are also catching up. 
But that’s not all. NFTs are also seeing massive volumes for multiple consecutive weeks, showing little signs of slowing down.
The question now is for how long this positive trend will sustain – is it a dead cat bounce or the beginning of a much-awaited recovery?
To help us crunch the numbers and interpret some of the on-chain data is Martin Lee – a Data Journalist from the popular cryptocurrency analytics firm Nansen.
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Liquid Staking Coins Trend Upwards, but for How Long?
Ethereum LSD, or liquid staking derivative coins, have been the hottest story of 2023 so far, with many of the

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John Ray Says Reviving FTX is on the Table: Report

15 days ago

The acting Chief Executive Officer of FTX, John J. Ray III, who is in charge of making sure that the creditors of the bankrupt exchange receive as much compensation as possible, said that the platform might restart.
In an interview with The Wall Street Journal, John J. Ray III said that restarting the exchange is on the table.
Everything is on the table. If there is a path forward on that, then we will not only explore that, we will do it.
FTX filed for Bankruptcy back in November 2022, using Chapter 11.
Mr. Ray further clarified that he will be looking into whether restarting the international exchange would recover more value for the company’s creditors than his team could potentially get from simply liquidating the assets or selling the entire thing.
There are

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Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

16 days ago

Pi Network is a controversial cryptocurrency project that has been making rounds across the crypto industry over the past few weeks after the token was listed on some crypto exchanges, including the popular trading platform Huobi.
Since its inception four years ago, the project has attracted millions worldwide as users can mine and earn its native token, dubbed Pi, by completing simple tasks.
Some experts have raised concerns about the legitimacy of the Pi Network, claiming the project is nothing but a classic Ponzi Scheme seeking to defraud investors in the long run. But is this true? Let’s take a look.
This article unravels everything about Pi Network, from its beginning to its latest controversial listing.
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What is Pi Network?
Pi Network is a

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What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

18 days ago

Ethereum is the largest smart contract platform in the industry, and it underwent a major shift by transitioning to a new consensus algorithm in 2022.
What is commonly referred to as The Merge saw the network abandon Proof of Work and transition to Proof of Stake in pursuit of fulfilling its broader roadmap towards scalability, decentralization, and security.
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With the introduction of Proof of Stake on the Beacon chain a while back, users were able to deposit 32 ETH to become full validators of the network.
This is part of Ethereum’s core components – namely, decentralization and transparency. In essence, users across the world are able to maintain the network and uphold it by running their own validator nodes.
However, this, in itself, also brought up a

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FTX Locates $5 Billion in Assets, Attorney Says: Report

23 days ago

In a hearing from today, a bankruptcy attorney said that FTX has managed to locate over $5 billion of assets.
Per a CoinDesk report, the attorney said that they’ve managed to locate over $5 billion of cash and liquid assets.
We have located over $5 billion of cash, liquid cryptocurrency, and liquid investment securities measured at petition date value.
This number doesn’t include the $450 million in cryptocurrencies that are currently held by the Securities Commission of the Bahamas.
In addition, they also located illiquid cryptocurrency tokens where they hold such large positions that can’t be offloaded without affecting the market for said tokens.

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SBF Pleads Not Guilty, DCG-Gemini Fiasco Escalates, Bitcoin Stable Amid $17K: This Week’s Crypto Recap

28 days ago

The total cryptocurrency market capitalization managed to increase by around $17 billion in the past seven days. Interestingly enough, the gains came mostly on the back of altcoins. This is highlighted in the declining Bitcoin dominance – a metric that’s commonly used to gauge BTC’s share relative to that of the rest of the market.
At the time of this writing, the BTC dominance sits at 38.1%, having peaked at over 38.4% last week.  Bitcoin’s price increased by a total of 0.9%, whereas altcoins such as BNB and ETH are up over 4%. Cardano surprised market participants and soared by around 11%, whereas Solana is undoubtedly the best performer from the leading coins, increasing by 37%.
While there are plenty of reasons for Solana’s increase, perhaps a leading one played the

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What is Bonk Inu (BONK): The Dogecoin of Solana?

January 4, 2023

Memecoins have been a part of the crypto culture for almost as long as the community existed, but 2020 and 2021 saw them soar to a whole new level.
It got to a point where two memecoins – Dogecoin (DOGE) and Shiba Inu (SHIB) became frequent members of the top-10 club (the 10 largest cryptocurrencies by means of total market capitalization).
The bear market of 2022 has impacted most memecoins severely, but DOGE and SHIB continue to be leading coins.
That said, there’s a new kid on the block – one built on Solana – and is going the miles. The cryptocurrency in question is called Bonk Inu (BONK), so let’s have a closer look at what it actually does.
What is Bonk Inu (BONK)?
According to its official one-pager, BONK is the very first Dog-themed memecoin on Solana that’s “for

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Cameron Winklevoss Calls Out Barry Silbert on $1.675B Debt, Latter Fires Back

January 2, 2023

In an open letter to Barry Silbert, Gemini co-founder Cameron Winklevoss said that Digital Currency Group owes Genesis approximately $1.675 billion.
Cameron Winklevoss shared an open letter to Barry Silbert – the founder of Digital Currency Group – on Twitter.
On behalf of many people, he argued that Genesis – a subsidiary of DCG – owes $900 million to them.
Winklevoss argued that the two companies are “beyond commingled.”
Furthermore, he alleged that:
To be clear, this mess is entirely your own making. Digital Currency Group (DCG) – of which you are the founder and CEO – owes Genesis (its wholly owned subsidiary) approx. $1.675 billion. This is money that Genesis owes to Earn users and other Creditors. You took this money – the money of schoolteachers – to fuel greedy

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Four Great and One Terrible Bitcoin Price Predictions for 2023

January 2, 2023

2023 is here, and with that comes an influx of predictions regarding the price of Bitcoin during the year. The past 12 months have been particularly devastating for the cryptocurrency, which lost upwards of 70% of its dollar value.
That said, many seem to be quite optimistic about the short-term future of BTC. Here are four great and one not-so-much predictions for 2023.
Tim Draper Says BTC to $250K
Tim Draper is perhaps one of the most outspoken and prominent Bitcoin permabulls. As such, it comes to no surprise that he maintains his optimistic stance and considers that it’s possible for the price to reach $250 by the end of the year.
This would require a rally of around 1400%.
Draper is also quite positive about the 2024 halving, thinking that it will have a great impact

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MicroStrategy Buys More BTC, FTX Revelations and More Contagion: This Week’s Crypto Recap

December 30, 2022

The last week of 2022 ends with a bang but not in terms of price action, which remains as dull as possible. However, it was marked by multiple events, so let’s dive in.
First things first, Michael Saylor’s MicroStrategy seems far from being done with buying BTC. The company revealed another purchase of more than 2,000 bitcoins, bringing its total to more than 132K. It’s also worth noting, though, that the company also sold around 700 BTC for the first time ever – for tax purposes.
It’s also interesting to note that the company revealed that it plans to introduce Bitcoin lightning Network applications during the following year.
Elsewhere, revelations in the case against FTX, Alameda, and its executives (in the face of SBF, Caroline Ellison, and Gary Wang) continue with full

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US DOJ Probes the $400M FTX Hack (Report)

December 27, 2022

The United States Department of Justice has reportedly launched a criminal probe into the hack that saw almost $400 million drained from FTX.
According to a report by Bloomberg, which cites people familiar with the matter, the United States Department of Justice is launching a criminal probe into the $400M FTX hack.
The report outlines that it’s unclear whether the exploit was carried out by an inside man or the work of a hacker.

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Is the Crypto Bear Market Coming to an End? 3 Key Indicators to Look

December 25, 2022

Valuations in the cryptocurrency market have dropped significantly from their all-time highs, with the total market capitalization losing around $2.2 trillion – a decline of around 73%.
Many altcoins, including some from the large caps, have lost over 90% of their value since their all-time highs, and industry participants are scrambling to time the bottom.
In light of the above, crypto analytics resource Nansen released a report that identifies systematic patterns in crypto derivative markets and traditional spot markets, analyzing what they mean for the current market environment. In short, they are attempting to answer the question if the crypto bear market is coming to an end.
Nansen outlines three key takeaways.
The US Dollar
As of the time of writing these lines, the

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Judge in SBF Case Recuses Herself Citing Possible Conflict of Interset

December 24, 2022

Federal judge Ronnie Abrams, who used to oversee the case against Sam Bankman-Fried, Caroline Ellison, and Gary Wang, has formally recused herself.
According to an order from December 23rd, Federal judge at the United States District Court for the Southern District of New York has recused herself from the action.
The order states:
It has come to the Court’s attention that the law firm of Davis Polk & Wardwell LLP, at which my husband is a partner, advised FTX in 2021, as well as represented parties that may be adverse to FTX and Defendant Bankman-Fried in other proceedigs (or potential proceedings). My husband has no involvement in any of these representations. […] Nonetheless, to avoid any possible conflict, or the appearance of one, the Court hereby recuses itself from

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Using LastPass to Store Passwords? You Must Act Quickly

December 24, 2022

One of the most popular password management tools – LastPass – has recently been compromised, and cryptocurrency users may have been affected.
With that in mind, it’s important to take reasonable action.
First off, reports of LastPass being compromised started appearing yesterday. Some claim that customer details were leaked in data breaches, and these include contact details, company and customer names, as well as IP addresses.
The breaches themselves took place back in August and November and were acknowledged by the company, which said that a malicious actor was able to steal the source code and technical information from their development environment.
With that in mind, Udi Wertheimer took it to Twitter to suggest a few steps users can take to prevent their crypto from

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SBF Deported and Released on Bail, FTX Fiasco Rageson, Bitcoin Stuck Below $17K: This Week’s Recap

December 23, 2022

Quite a lot has been going on in the cryptocurrency industry over the past seven days, but most of it failed to impact the price action,Week’s remains rather dull. Can’toin is trading below $17K, down about 2.9% in the past seven dParents’ble to recover the coveted level. The volatility has seemingly disappeared from the market, but that’s not necessarily truparents’e altcoins. All of them are trading in the red, with the most considerable loss being that of Cardano which plunged by a whopping 14%.  XRP is down 7%, DOGE – 8.3%, MATIC – around 9%, and so forth.
This has caused the Bitcoin dominance to raise and it currently sits at 38.3%. It means that the altcoins have failed to capitalize on BTC’s indecisiveness and have struggled a lot more in comparison.
The week was

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Talking Ethereum 2.0 With ConsenSys PM Matt Nelson: When Can ETH Validators Unstake?

December 22, 2022

Ethereum’s transition to Proof-of-Stake has undoubtedly been the most significant technical accomplishment in the blockchain industry in 2022 and perhaps even beyond.
To facilitate the process, those who wished to secure the Beacon chain had to deposit a minimum of 32 ETH to become validators. The economic incentive to do so was (and still is) represented by the yield that users receive on the staked amount.
However, there’s a catch – users are unable to withdraw their stake until after the Merge became a reality (which it already has) and after withdrawals are unlocked. There’s been quite a bit of chatter lately on that last part, as the Ethereum foundation recently removed the estimated unlock date.
To this end, CryptoPotato sat with Matt Nelson – a product manager at

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Binance US Agrees to Buy Voyager Digital Assets

December 19, 2022

Binance US has entered into an agreement with Voyager Digital to acquire its assets. The bid from the cryptocurrency exchange also means that there’s a path for Voyager customer funds to be unlocked “as soon as possible.”
CryptoPotato reported earlier in November that CZ had confirmed that Binance US will be bidding for the assets of Voyager.
Today, in an official announcement, Voyager confirmed that the exchange will acquire its assets:
“Our bid is a reflection of our guiding principle that customers should come first.  Our goal is simple: return users their cryptocurrencies on the fastest timeline possible. […] We hope our selection brings to an end a painful bankruptcy process which saw customers unfairly dragged into it at no fault of their own. Upon close of the deal,

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OKX Withdrawals on Pause as Exchange Tackles Cloud Provider Issues

December 18, 2022

Popular cryptocurrency exchange OKX is experiencing connection issues with their cloud provider, according to their most recent announcements.
It appears that withdrawals aren’t functioning at the time, but the team reassures all funds are safe.

There is currently an intermittent connection error with our cloud provider which is affecting the user experience. Our dev team is resolving it with them. Funds are safe. Sorry for any inconvenience caused. 🙏
— OKX (@okx) December 18, 2022

The exchange is using Alibaba Cloud and revealed that they are still fixing their equipment failure in HK Zone C. OKX developers are supposedly in talks and have already urged the cloud provider to fix the issue as soon as possible.
In a more recent update, OKX said the cloud services are

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Sam Bankman-Fried Won’t Contest Extradition to the US: Report

December 18, 2022

Sam Bankman-Fried – the former CEO of defunct crypto exchange FTX – will supposedly reverse his decision to contest extradition to the US.
According to a Reuters report, SBF will appear before the court in the Bahamas on Monday, December 19.
Bankman-Fried is currently held at a correctional facility in the Bahamas following his arrest on December 13.
He faces multiple charges, including criminal, and is being investigated by the DOJ, SEC, and the CFTC.
It was previously said that SBF will fight extradition requests, but according to sources familiar with the matter, he will be reversing this decision on Monday (December 19th).

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BNB Leads Recovery Efforts While Bitcoin Struggles Below $17K (Weekend Watch)

December 18, 2022

Over the past day, the total cryptocurrency market capitalization managed to recover a few billion, but the overall market saw no considerable volatility, and volume is drying up.
Some altcoins managed to pull ahead, but the broader sentiment remains fearful.
Bitcoin Struggles Below $17K
Bitcoin’s price was unable to hold above the $17K level yesterday and dropped to a low of $16,527 on Binance. The cryptocurrency has failed to recover and is currently trading at around $16,670.
Source: Binance via TradingViewBTC’s price is down about 2.4% on the week and is only up 0.2% in the past 24 hours, unable to stage a clear recovery.
Bitcoin’s dominance – used to primarily gauge its share relative to that of the rest of the market – sits still at 38.2% (according to CoinGecko).

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Crypto Bloodbath: Bitcoin Plummets Below $17K, BNB Crashes 7% (Weekend Watch)

December 17, 2022

The past 24 hours have been tough in the cryptocurrency markets, with the total capitalization dropping by some $40 billion. This comes on the back of major coins charting serious declines and BTC plummeting below $17K.
Bitcoin Goes Below $17K
Bitcoin’s price took a serious beating over the past couple of days, losing about 9% of its value since hitting $18,300 earlier in the week. For the past 24 hours alone, the cryptocurrency is down by almost 3%, training at around $16,700 at the time of this writing.
Source: Binance via TradingViewIt’s interesting to note that Bitcoin dominance – used as a primary means of gauging its share relative to that of the entire market – is increasing. This means that altcoins are having it worst than BTC during this period.
In any case, it’s

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Bitcoin Rollercoaster on US Inflation Data, SBF’s Arrest, and MetaMask’s PayPal Collab: This Week’s Recap

December 16, 2022

The biggest news of the past seven days is undoubtedly the arrest of the former CEO of FTX – Sam Bankman-Fried. This took place on December 13th in the Bahamas at the request of the US Government. SBF now faces multiple counts of fraud charges, including criminal charges from the US DOJ.
The US Bureau of Labor Statistics also published the numbers for the Consumer Price Index, which clocked in at 7.1%. The expectations were for 7.3%, which sent the markets, including Bitcoin, on a rally. The cryptocurrency topped $18K earlier in the week.
Unfortunately, the celebrations were for not as a day later, during the FOMC meeting of the US Federal Reserve, Chairman Jerome Powell announced another 50bps rate hike, sending the crypto markets into a sea of red. The declines

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Bitcoin Remains Calm in Anticipation of Tuseday’s CPI Release (Weekend Watch)

December 11, 2022

The cryptocurrency market has remained calm over the past 24 hours with unimpressive volumes, which is rather typical for the weekend. It’s also worth noting that market participants might be cautious before the release of November’s CPI numbers.
Bitcoin Stable at $17K
Bitcoin’s price has failed to produce any significant movements in the past 24 hours and has maintained above $17K for a total of 0.2% gains on the day, according to CoinGecko.
As seen in the chart below, there were no major fluctuations, and the price dipped to a low of slightly below $17,100.
Source: Binance via TradingViewIt’s entirely possible for market participants to be careful because there’s an important announcement coming from the US Bureau of Labor Statistics on Tuesday. They will release the

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Axie Infinty (AXS) Explodes 20% Weekly, Bitcoin Remains Stable Above $17K: Market Watch

December 10, 2022

The broader cryptocurrency market didn’t see a major change in the past 24 hours, as its total capitalization remains the same.
As we go into the weekend, it becomes clear that some cryptocurrencies performed really well throughout the week, so let’s dive in.
Bitcoin Stable Above $17K
The BTC price didn’t go through any major moves in the past 24 hours and remains above $17K. It’s worth noting, however, that it had increased up to $17,360 in the early afternoon yesterday, but the bulls were unable to continue the push and the price was sent back toward $17,100.
Source: Binance via TradingViewThis puts BTC on a 0.4% loss for the past 24 hours and a 0.4% increase for the past week, showcasing the markets’ inability to break away from the current trading range.
Altcoins

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CZ Binance Spats With SBF, Crypto Markets Go Back and Forth, More Proof of Reserves: This Week’s Recap

December 9, 2022

With certain slight exceptions, the cryptocurrency market is found more or less where it was during the same time last week. The total capitalization sits at around $890 billion, according to data from CoinGecko and Bitcoin’s dominance is at 37%.
Speaking of Bitcoin, the primary cryptocurrency went back and forth (just like the rest of the market, dipping below $17K on a few occasions throughout the week. However, the bulls were successful in reclaiming this important level, and the price is now found above it for an increase of 1% throughout the past seven days.
Most of the major cryptocurrencies are trading roughly at similar prices compared to last week, with certain exceptions. For example, DOGE is down 5%, and XRP is down 3%. On the other hand, Uniswap’s UNI and

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Bitcoin Slips Below $17K as Altcoins Swimming in Red (Market Watch)

December 7, 2022

After flirting with and above the $17K level for a few days, Bitcoin’s price has been unsuccessful in charting any significant gains above it. Finally, the bears seem to have taken over and pushed the cryptocurrency below it.
This happens as the entire market capitalization lost around $20 billion in the past 24 hours, and altcoins are predominantly trading in the red.
Bitcoin’s Price Losing $17K
The past 24 hours haven’t been particularly favorable throughout the entire cryptocurrency market. BTC’s price seems to have lost the $17K mark, and it’s currently trading slightly below it – around $16,800 (on Binance).
Source: Binance via TradingViewBitcoin is currently down around 1.3% on the day but remains up by 2.2% on the weekly. Over the past few days, the BTC dominance –

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Elon Musk Says SBF Donations to Democrats ‘Probably’ Over $1 Billion

December 4, 2022

Elon Musk has alleged that the former CEO of bankrupt crypto exchange FTX, Sam Bankman-Fried, has donated over a billion dollars to the Democratic party to support them in the elections.
In a recent discussion on Twitter, Will Manidis, the Chief Executive Office of healthcare AI platform Science, called SBF’s donations to politicians “one of the highest ROI trades of all time” because it allowed him to not go to Jail for stealing over $10 billion.
Taking part in the discussion was Elon Musk, who alleged that SBF’s “actual support of Dem elections is probably over $1 billion.”
Musk also asked where did that money go.

That’s just the publicly disclosed number. His actual support of Dem elections is probably over $1B. The money went somewhere, so where did it go?
— Elon Musk

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Multiple SBF Appearances, Fed Chair Speech, and Market Bounce: The Week’s Crypto Recap

December 2, 2022

The past seven days were filled with a lot of information as the situation around FTX keeps unraveling. The former CEO of the exchange – Sam Bankman-Fried, had multiple appearances, but they may have spurred more questions than they answered.
Before we get there, though, it’s important to note that the market managed to add around $20 billion to its capitalization, which is a step in the positive direction. Bitcoin managed to gain 2%, while ETH is up a total of 6% in the past week.
This week’s best performer, for better or worse, is Dogecoin. DOGE skyrocketed a whopping 21% in a market that’s struggling to recover. MATIC also performed very well, up 7% in the past seven days.
As mentioned above, the week’s highlights were the multiple appearances of SBF in a few interviews

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