Bitcoin wins a further 12 %weekly, old coins lag behind, Genesis reports bankruptcy: The weekly review

Bitcoin wins a further 12 %weekly, old coins lag behind, Genesis reports bankruptcy: The weekly review

The past seven days were packed with price movements. The overall market capitalization for cryptocurrencies is over $ 1 trillion, with most of the leading coins recording considerable profits. However, it seems that Bitcoin is leading and increases its overall market share.

The dominance of Bitcoin - a key figure that is most frequently used to measure its share in relation to the rest of the market - has increased from 39 % to around 40 % in the past seven days. This is a remarkable movement and shows that the leading cryptocurrency has cut off much better compared to the rest of the market.

At the time of writing this article, BTC fights for $ 21,000 and reaches a weekly high of around $ 21,600. At this point, the US Ministry of Justice announced that it would carry out an international assertiveness, which will send the markets down expectantly. Hours after the first announcement it turned out that they targeted a Russian cryptocurrency exchange with tiny volumes.

In any case, Bitcoin and Ethereum with an increase of 12 % or 10 % seem to be among the most powerful leading cryptocurrencies. However, Solana is undoubtedly the best performer among the top 20 coins and has increased almost 30 % this week.

But that's not all. Genesis Global Capital - a subsidiary of the Digital Currency Group - previously filed for bankruptcy today. One of the company's largest creditors is primarily the Gemini Earn program with around 100,000 creditors with liabilities that are estimated at $ 1 to $ 10 billion.

It is interesting to see how the market will develop in the coming days and whether the bad news will finally demand their tribute to the course.

market data

Market capitalization: 1011 billion $ | 24h volume: 54b | BTC dominance: 40.1 %

Bitcoin: 21,065 $ (+11.7 %) | ETH: $ 1.556 (+9.8 %) | BNB : $ 288 (0.3%)

The crypto headlines this week should not be missed

Consensys and Amber Group join the list of companies that relieve employees. Consensys and Amber Group are the youngest companies who reduce staff. The former is released 11 % of his employees, while the latter will halve his business area in Hong Kong.

What can be expected after Bitcoins's last jump: Arthur Hayes. The founder and former CEO of Bitmex - Arthur Hayes - took part in Bitcoin's youngest rally. He believes that the Federal Reserve of the United States is not yet willing to swing around, which means that a return is likely to be imminent.

John Ray says that the revival of FTX is on the table: Report. The reigning CEO of FTX, John J. Rayy III, said that a restart of the stock exchange was not excluded. In fact, he said that they will check all options that will help to make the creditors complete.

OKX publishes Proof-of-Reserves report with $ 7.5 billion "clean assets". One of the leading cryptocurrency exchanges, OKX, published a new proof-of-reserves report, which shows clean assets worth around $ 7.5 billion. This is the number of coins that exceed the liabilities.

ripplle CEO confidently via the second case solution in less than 6 months. Brad Garlinghous, the CEO von Ripplleünt the hope that the lawsuit against the US stock exchange supervisory authority will be completed by Securities and Exchange Commission within the next six months.

ETH NFT activity only increased for 5 weeks in a row: data. not fun tokens are again particularly popular. The data show that investors have renewed their interest in NFTS and that the trading volume has increased for the fifth week in a row.

diagrams

This week we have a chart analysis from Ethereum, Ripplecardano, Solana and Polkadot - click here for the full price analysis.

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