Ethereum leads market rally to Shapella, Bitcoin exceeds $ 30,000, old coins thrive: Review of the market this week
Ethereum leads market rally to Shapella, Bitcoin exceeds $ 30,000, old coins thrive: Review of the market this week
This week, the entire market capitalization of cryptocurrencies increased to over $ 1.3 trillion, which is due to the strong increase in many coins. The mood has also improved significantly on a broad front.
The Bitcoin price managed to exceed the coveted $ 30,000 mark-a point that we have not seen in 10 months. The week started relatively calmly because everyone expected the publication of the consumer price index. It is mainly used to measure inflation in the USA. Before its publication, however, things took a somewhat unexpected turn, and the price shot up to $ 30,000 and stayed there for a while.
The CPI was 5 %for March, which indicates that inflation continues to slow down - the sixth month in a row. This gave investors trust and the market apparently remained strong. But that was not the only major event that had to offer this week.
on April 12th Ethereum went through the so-called Shanghai upgrade. It is also referred to as Shapella upgrade. Apart from its name, the groundbreaking network update Validators finally enables ETH to make ETH, which they have blocked for years to secure the network. Many predicted that this would flood the market with an enormous range of ETH. This was not the case.
While a considerable number of ETH was unlocked, the market reacted positively. The cryptocurrency shot up to $ 2,100, exceeding the decisive level of $ 2,000 and led the entire market to a new rally. This also prompted many to assume that the bear market had come to a standstill.
Many old coins followed this example, some of which have recorded remarkable profits in the past seven days. Examples have risen by about 65 %, injective (inJ) - by about 34 %, render (RNDR) - rose by 32 % and arbitrum (Arb) - increased by about 26.5 %.
Elsewhere, we also saw developments coming on the FTX front. Lawyers and bankruptcy were able to collect around $ 7.3 billion from the company's assets. In addition, it was also known that a possible restart of the stock exchange is considered - an announcement that was recorded by the community, told the least, with mixed feelings.
In any case, the week was undeniably optimistic, and it is very interesting to see whether the dynamics will continue in the following days. Will Bitcoin and Ethereum continue their rally or does the market begin with a correction? We will see.market data
Market capitalization: 1,331 billion $ | 24-hour band: $ 61 billion | BTC dominance: 44.6 %
BTC: $ 30,710 (+9.5 %) | ETH: $ 2.105 (+12.5 %) | BNB: $ 332 (+6.7 %)
The crypto headlines this week should not be missed
What is the Ethereum Shanghai (Shapella) upgrade? Everything you need to know. This week Ethereum successfully passed the Shanghai upgrade, which is also known as Shapella. Among other things, the validators made it possible for ETH to be blocked for years to secure the proof-of-stake network.
The London stock exchange uses the digital trading platform to start trading with Bitcoin futures and options. The London Stock Exchange Group officially tapped Global Future's options. The aim is to start the provision of the first regulated trade clearing for Bitcoin index futures and option derivatives.
Montana Bill for classification of crypto as personal property, approved by the House of Reps. The draft law bears number 178 and aims to put digital assets in the same basket as personal property. This includes cryptocurrencies, stablecoins and non -fungible tokens (NFTS). It is also aimed at promoting the operation of local cryptocurrencies.
Twitter cooperates with Etoro to provide users access to financial instruments. One of the world's largest social media platforms, Twitter, has entered into a partnership with the popular retail-oriented financial app ETORO. The aim of the partnership is to enable users to buy and sell shares, crypto and other financial assets.
The recovered assets from FTX increase to $ 7.3 billion and can restart the stock exchange in 2024. lawyers and bankruptcy experts from FTX were able to get around $ 7.3 billion from the company's assets. In addition, the lawyer of the stock exchange added that the legal team would start planning a "possible restart or recapitalization" from FTX.
el Salvador grants Bitfinex his first crypto license. The popular Bitfinex cryptocurrency exchange is the first to register as a digital asset service provider (DASP) by El Salvador's supervisory authorities. The move takes place, while the broader cryptoma market goes through considerable relaxation.
diagrams
This week we have a chart analysis from Ethereum, Ripplecardano, Dogecoin and Arbitrum - click here for full price analysis.
.
Kommentare (0)