The events of the previous week prompted bullish sentiment in the crypto world, and we are eager to see what this month has in store. Before you get started, check out our Crypto Market Updates.
According to CoinMarketCap, the current market cap is ₹139.44 Trillion on 15 January. In the past few months, even the top-performing coins were seen as bullish and were trying to set a new market trend.
As of the past week, Bitcoin is priced at ₹3,535,698.27, reflecting a 0.04% fall within the last 24 hours and a 3.77% drop over 7 days. Talking about Ethereum, ETH is currently valued at ₹208,222.40, showing a 1.40% fall in the past 24 hours, with a significant jump of 13.07% over 7 days.
Crypto Market Updates: 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: Avalanche (AVAX), Chainlink (LINK), and Internet Computer (ICP).
In the past week, the price of Avalanche (AVAX) showed an 11.28% jump. Meanwhile, the token experienced a drop of 0.62% in the past 24 hours. And the token is currently trading at the price of ₹2,989.89.
Talking about Chainlink (LINK), the token illustrated a 16.67% spike as compared to other major cryptocurrencies. In addition, LINK has shown a 4.82% jump in the past 24 hours, trading at a price range of ₹1,283.87.
In addition, the Internet Computer (ICP) token dropped by 2.41% in the past 24 hours. Meanwhile, in the past week, the token jumped by more than 17.79%. In addition, the price of the ICP token is trading at ₹1,069.25.
Top Crypto Gainers & Losers
The past week remains one of the most bullish 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:
How the Crypto Market Became Bullish?
The cryptocurrency market became bullish in the past week after the US SEC approved the 11 Bitcoin ETFs. However, the price of Bitcoin showed some bearish sentiment after the approval, but altcoins are performing well in the market.
Apart from that, the recent notice from the Indian finance ministry also affected the sentiments of crypto investors when the government banned the URLs of 9 major offshore crypto exchanges.
Crypto Market Updates: Trending News From the Last Week
- Circle Internet Financial, the business behind the famous stablecoin USDC, has formally filed for an Initial Public Offering (IPO) in the United States, according to sources. The announcement comes at a critical juncture for the Boston-based corporation, which aspires to become a publicly traded entity and achieve wider acceptability.
- Michael Patra, Deputy Governor of the Reserve Bank of India (RBI), has been reappointed for another year, effective January 15. The Appointments Committee of the Cabinet (ACC) approved Patra’s extension, which could have an impact on India’s attitude on cryptocurrency regulations.
- BONK, Solana’s meme coin, just launched a new feature called ‘PooperScooper,’ which aims to simplify user interactions and asset management inside its ecosystem. This latest breakthrough is an important step forward in BONK’s continued efforts to broaden its reach and utility in the competitive world of digital currencies.
The recent bearish trend in the crypto market showcases its dynamic evolution, marked by significant gains and increased investor confidence. This trend reflects growing institutional interest and technological advancements.
However, despite these confusing strides, the market’s inherent volatility persists. Investors should remain vigilant, conduct thorough research, and employ diversified strategies to navigate potential uncertainties. While the recent bullish trend inspires optimism, it’s essential to approach the crypto market with caution and a long-term perspective.
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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].