The events of the previous week prompted confusing 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 Weekly News Updates.
According to CoinMarketCap, the current market cap is ₹128.86 Trillion on 18 December. In the past few months, even the top-performing coins were seen as confusing and were trying to set a new market trend.
As of the past week, Bitcoin is priced at ₹3,411,913.62, reflecting a 1.97% drop within the last 24 hours and a 3.78% loss over 7 days. Talking about Ethereum, ETH is currently valued at ₹180,484.80, showing a 1.91% fall in the past 24 hours, with a significant drop of 4.12% over 7 days.
Crypto Weekly News 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: Near Helium (HNT), Injective (INJ), and Stacks (STX).
In the past week, the price of Helium (HNT) showed a 49.88% hike. In addition, the token also experienced a significant jump of 8.79% in the past 24 hours. And the token is currently trading at the price of ₹640.50.
Talking about Injective (INJ), the token illustrated a 38.00% hike as compared to other major cryptocurrencies. In addition, INJ has shown a 6.82% hike in the past 24 hours, trading at a price range of ₹2,589.39.
In addition, the Stacks (STX) token jumped by 8.20% in the past 24 hours. Furthermore, in the past week, the token surged by more than 21.21%. In addition, the price of the STX token is trading at ₹92.96.
Top Crypto Gainers & Losers
The past week remains one of the most bullish weeks for the crypto market in 2023. So, let’s have a look at some of the top crypto gainers and losers from the past week:
How the Crypto Market Became Optimistic?
The cryptocurrency market reached fresh highs on expectations that a spot Bitcoin exchange-traded fund (ETF) will be approved in the United States in January 2024. Aside from that, Standard Chartered forecast in a Nov. 28 paper that Bitcoin may reach six figures by the end of next year because of the “earlier-than-expected introduction” of spot ETFs in the United States.
Crypto Weekly News Updates: Trending News From the Last Week
▪️ The Ethereum network has hit a new milestone by approving the ERC-3643 Ethereum Improvement Proposal (EIP). This advancement represents a substantial advancement in compliant asset tokenization. Following a thorough examination and discussion, the Ethereum community has formally recognized ERC-3643, following in the footsteps of standards such as ERC-20.
▪️ The Bitwise spot Bitcoin exchange-traded fund (ETF) has officially been added to the Depository Trust & Clearing Corporation (DTCC) active and pre-launch list. The Bitwise spot Bitcoin ETF is denoted by the symbol BITB. This is a huge step forward for the business in its pursuit of the first Bitcoin ETF approval in the United States.
▪️ Fireblocks and the Iota Foundation have recently launched a strategic alliance. This collaboration intends to streamline the asset tokenization process in order to accommodate the growing institutional interest in this subject. The move incorporates Iota’s Shimmer Ethereum Virtual Machine (EVM), a chain compatible with Fireblocks’ powerful infrastructure.
New Coin Listing on SunCrypto
In the past week, SunCrypto has listed three new cryptocurrencies on its application. Trading services for these coins are now live on the suncrypto application. These coins are;
The recent confusing 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.
For more crypto-related content like Crypto Weekly News Updates, 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].