Well, the past week had some exciting developments to offer, at least in certain segments of the market. The broader capitalization barely increased by around billion, currently standing shy of .2 trillion. This came on the back of a relatively flat performance of major cryptocurrencies, but some altcoins managed to surprise. Let’s dive in. It’s been a back-and-forth with Bitcoin this week. The cryptocurrency was trading at around ,500 this time last week and managed to increase to around ,500 a few days later. It plunged back below K, only to test ,500 again on Thursday. The bears weren’t having it, though, and made another decisive swing down, putting BTC’s price where it’s currently trading at around ,800, booking a slight increase of 1.3%. Ethereum
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George Georgiev considers the following as important: Bitcoin (BTC) Price, BTCEUR, BTCGBP, btcusd, btcusdt, Ethereum (ETH) Price, featured1, Market Updates, PEPE, Ripple (XRP) Price
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Well, the past week had some exciting developments to offer, at least in certain segments of the market. The broader capitalization barely increased by around $5 billion, currently standing shy of $1.2 trillion. This came on the back of a relatively flat performance of major cryptocurrencies, but some altcoins managed to surprise. Let’s dive in.
It’s been a back-and-forth with Bitcoin this week. The cryptocurrency was trading at around $26,500 this time last week and managed to increase to around $27,500 a few days later. It plunged back below $27K, only to test $27,500 again on Thursday. The bears weren’t having it, though, and made another decisive swing down, putting BTC’s price where it’s currently trading at around $26,800, booking a slight increase of 1.3%.
Ethereum is also trading for a 2% increase on the weekly, followed by Cardano (ADA), MATIC, DOT, and TRX – all of which managed to book similar gains.
But that’s where things get more exciting.
Ripple’s XRP increased by around 8% in the past seven days, positioning it as the clear leader within the top 10 cryptocurrencies by means of total market cap. The reasons are probably two-fold. The judge presiding over the case against the US Securities and Exchange Commission (SEC) ruled against the agency’s motion to seal a certain record of former director Bill Hinman. Investors perceived this as bullish for XRP as it might have a positive impact on the outcome of the case. Ripple also entered a deal to acquire Metaco – a Swiss-based crypto custodian, for $250 million.
And then there’s PEPE. The memecoin that’s taken center stage in the cryptocurrency industry is up some 17% in the past week, leading the memecoin sector by a considerable margin. There’s no telling why PEPE is up but as with anything meme-related, it could be any number of reasons. It’s very interesting to see if it will maintain its position, though.
In any case, it remains very interesting to see how the market will shape in the following days and if XRP will continue on its positive trajectory.
Market Data
Market Cap: $1,169B | 24H Vol: $34B | BTC Dominance: 44.4%
BTC: $26,829 (+1.3%) | ETH: $1,810 (+2%) | BNB: $309 (+1.1%)
We Asked ChatGPT Which 5 Cryptos Will Survive in 10 Years: The Answer Might Surprise You. We asked the most popular AI language model on which five cryptocurrencies will survive in the next 10 years. The answer might surprise you.
Tether Will Buy Bitcoin: Allocating 15% of Net Realized Operating Profits Regularly in BTC. The company behind the world’s largest stablecoin USDT – Tether – will be buying BTC. It announced that it will allocate as much as 15% of its net realized operating profits regularly.
Coinbase Launches Zero-Fee Trading, But There Are Catches. The leading US-based cryptocurrency exchange – Coinbase – is launching zero-fee trading. However, there is a catch. Users will have to pay $30 per month to be able to take advantage of this feature, making it not exactly “zero-fee.”
Ripple (XRP) Enters a $250 Million Deal to Acquire Metaco. Ripple, the company behind XRP, announced the acquisition of the Swiss-based cryptocurrency custody provider – Metaco. The goal is to expand the firm’s services and grow within the institutional crypto custody market.
SEC Says FIL Is A Security, Asks Grayscale to Retract Filecoin Trust’s Form 10 Application. The US Securities and Exchange Commission shows no mercy. It said that Filecoin (FIL) is a security and urged Grayscale to stop offering it to their clients.
ChatGPT Predicts 8 Things That Will Happen to Crypto By 2033. ChatGPT predicted eight different things that will happen to the cryptocurrency industry in the next decade. From mainstream adoption to increased regulatory scrutiny, here’s what the AI thinks about the future of crypto.
Charts
This week we have a chart analysis of Ethereum, Ripple, Cardano, OP, and PEPE – click here for the complete price analysis.