Crypto Highlights of the Week | 15 April 2024

In the last week, the crypto market has continued its bear rally, with top cryptocurrencies such as Bitcoin and Ethereum experiencing a rapid downturn by falling below critical support levels. 

The events of the previous week sparked a negative feeling in the crypto community, and we’re excited to see what this month has in store. Before you begin, check out our Crypto Highlights of the Week.

According to CoinMarketCap, the current market cap is  ₹205.64 Trillion on 15 April. However, in recent weeks, even the top-performing coins were viewed as struggling and attempting to establish a new market trend. 

As of the past week, Bitcoin is priced at ₹5,426,814.21, reflecting a 1.53% jump within the last 24 hours with a significant drop of 7.68% over 7 days. Talking about Ethereum, ETH is currently valued at ₹262,437.77, showing a 3.36% jump in the past 24 hours, with a ground-breaking fall of 9.45% over 7 days.

Crypto Highlights of the Week: Top Trending Coins

In the past week, three cryptocurrencies have remained the talk of the town because of some recent developments related to these cryptocurrencies: Bitcoin Cash (BCH), Solana (SOL), and 

In the past week, the price of Bitcoin Cash (BCH) showed a 25.05% drop. However, the token experienced a rise of 10.58% in the past 24 hours. The token is currently trading at the price of ₹44,110.35.

Talking about Solana (SOL), the token illustrated a 16.93% drop as compared to other major cryptocurrencies. Meanwhile, SOL has shown a 5.88% jump in the past 24 hours, trading at a price range of ₹12,380.73.

Moreover, the XRP (XRP) token dropped by 16.95% in the last 7 days. However, in the past 24 hours, the token surged by more than 3.37%. In addition, the price of the XRP token is trading at ₹41.66. 

Top Crypto Gainers & Losers

The past week remains one of the most confusing weeks for the crypto market in 2024. So, let’s have a look at some of the top crypto gainers and losers from the past week:

Crypto Highlights of the Week

How the Crypto Market Became Bearish?

The crypto market has lately witnessed a correction, following the previous halve price pattern. As the halving event approaches its climax, investors’ trust in the market dwindles, and the market prepares for a two-month price correction.

Furthermore, this month’s FOMC meeting is scheduled for April 30, which raises concerns about rising interest rates, which has a huge impact on the whole crypto market. 

Crypto Highlights of the Week: Trending News From the Last Week

▪️ The US Securities and Exchange Commission has issued a Wells notice to Uniswap, a decentralized exchange. On April 10, Uniswap’s chief legal officer, Marvin Ammori, verified the regulator’s notification via X (previously Twitter). “Today’s Wells notice against Uniswap is disappointing, but is not unexpected from this SEC,” Ammori said in a statement.

▪️ StepN, a move-to-earn lifestyle app based on the Solana blockchain, is airdropping 100 million FSL points to its customers, valued at almost $30 million. According to the April 10 release, FSL points may be redeemed at a 1:1 ratio for StepN’s GMT token and utilized in forthcoming StepN nonfungible token (NFT) mints to gain special rewards.

▪️ Ethereum’s Pectra update, scheduled for late 2024 or early 2025, will provide a slew of new features for crypto wallets, as well as improvements to its user experience. Ethereum Improvement Proposal (EIP) 3074 has been approved for inclusion in the next upgrade, allowing conventional crypto wallets to function similarly to smart contracts.

SunCrypto Views

The recent bearish trend in the cryptocurrency market demonstrates its dynamic evolution, which has included short-term losses and confusing investor confidence. This development reflects increasing institutional interest and technological advancements.

Despite these growing developments, the market’s intrinsic volatility persists. To navigate potential risks, investors should exercise caution, perform extensive research, and apply a variety of tactics. While the recent optimistic trend is encouraging, it’s critical to approach the cryptocurrency market with care and a long-term mindset.

For more crypto-related content like Crypto Highlights of the Week, informational blogs, and crypto news, check out Suncrypto Academy.

 

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date, occasionally unintended errors or misprints may occur. We recommend you do your own research or consult an expert before making any investment decision. You may write to us at [email protected].

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