Crypto Market Unpacked For The First Time This Week 6 weeks in a rowBitcoin (BTC) is up 8% over the past seven days and is trading at $20,718 at the time of writing, according to CoinGecko. Ethereum (ETH) is up 24% over the course of the week, and at the start of the weekend he climbed to $1,613.
So-called”ethereum killer, Layer 1 blockchains with high-performance smart contracts see Cardano (ADA) up 15% to $40 cents, Solana (SOL) up 17% to $32.83, and Polkadot (DOT) up 11%. It was a great week, including an 11% increase in At $6.52, Avalanche (AVAX) rose 18% to $18.38.
Other notable gains this week include Ethereum Classic (ETC) up 17% to $25.79, Litecoin (LTC) up 7% to $55 and Uniswap (UNI) up 14%. At $6.88, Binance Coin (BNB) rose 11% to $300. Polygon (MATIC) rose 16.2% to 93 cents.
But Memecoin King won the week.Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE), is up 77% to 10 cents in a week (yes, still down from 72 cents May 2021) behind the news Tesla’s CEO finalized deal to buy Twitter for $44 billion.
For most of the green crypto markets this week, we can point to generally more optimistic macroeconomic trends this week. Stock market rises After several major companies reported earnings.
Biggest coin news of the week
bitcoin on monday Highest mining difficulty ever (for Second time this month) after a 3% rise. As the difficulty increases, mining requires more computing power and power, so miners may face less profits if the Bitcoin price remains sluggish. The increasing mining difficulty also shows that the network is strong and growing.
In the UK, former UK Chancellor of the Exchequer and Conservative Party Crypto Advocate Rishi Snack Elected to succeed Liz Truss both as head of state and party leader. The only candidate to get the necessary votes was he Sunak. He was briefly at odds with former Prime Minister Boris Johnson, who announced he would be withdrawing on Sunday.
On Thursday, in the midst of the Musk takeover, Twitter asked users to NFT exhibition and trading Through Tweets thanks to new partnerships with four select marketplaces: Magic Eden, Rarible, Dapper Labs and Jump.trade. is displayed and contains a button to navigate the user to the Marketplace listing.
And on Friday, Binance confirmed it’s a stock investor (on the note of $500 million) in Elon Musk’s $44 billion Twitter takeover bid.Exchange CEO Changpeng Zhao sent an email Decryption The statement said: We aim to play a role in connecting social media and Web3 to expand the use and adoption of cryptocurrencies and blockchain technology. ”
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