The events of the previous week sparked positive sentiments in the cryptocurrency sector, and we’re excited to see what this month has in store. Before you begin, check out our Crypto Weekly Round-up.
According to CoinMarketCap, the current market cap is ₹196.18 Trillion on 27 July. Meanwhile, in the past few months, the top-performing coins were seen moving bullish and were trying to continue their new market trend.
As of the past week, Bitcoin is priced at ₹5,683,402.99, reflecting a 1.20% fall within the last 24 hours with a massive surge of 8.74% over 7 days. Talking about Ethereum, ETH is currently valued at ₹294,382.86, showing a 0.27% drop in the past 24 hours, with a ground-breaking surge of 5.67% over 7 days.
Crypto Weekly Round-up: 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: Solana (SOL), Dogecoin (DOGE), and Avalanche (AVAX).
In the past week, the price of Solana (SOL) showed a 19.99% surge. Moreover, the token also experienced a marginal jump of 4.49% in the past 24 hours. The token is currently trading at the price of ₹15,168.68.
Talking about Dogecoin (DOGE), the token illustrated a 20.34% jump as compared to other major cryptocurrencies. However, DOGE has shown a 6.51% drop in the past 24 hours, trading at a price range of ₹11.77.
In addition, the Avalanche (AVAX) token increased by 22.41% in the last 7 days. Moreover, in the past 24 hours, the token also jumped by more than 12.60%. In addition, the price of the AVAX token is trading at ₹2,743.24.
Top Crypto Gainers & Losers
The past week remains one of the most stress-reducing 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 crypto market has continued its bullish momentum over the last week in anticipation of the start of Spot Ethereum ETFs trading on the NYSE. Apart from that, the continuous inflows in the Spot Bitcoin ETFs also improved the sentiments of crypto investors, helping Bitcoin’s price to jump over the $67,000 resistance level.
Meanwhile, the assassination attempt on the US Presidential candidate Donald Trump also helped the market to attain a certain bullish momentum. By looking at the recent and upcoming developments of the crypto market it can be anticipated that the crypto market may continue its bullish momentum for upcoming weeks.
Crypto Weekly Round-up: Trending News From the Last Week
▪️ The Indian cryptocurrency exchange WazirX has announced that it was the victim of a security compromise that resulted in the loss of $230 million in digital assets.
▪️ On July 19, the CBOE stated that, “pending regulatory effectiveness,” five spot Ethereum exchange-traded funds (ETFs) will go live on the Chicago Board Options Exchange on July 23.
▪️ Pavel Durov, the founder of Telegram, revealed that the popular messaging app would debut a Mini App store and an in-app browser with Web3 compatibility before the end of July. Durov also announced efforts to reduce fraud on the platform, including showing the month and country of registration for public-facing user profiles.
️SunCrypto Views
The recent bullish trend in the cryptocurrency market demonstrates its dynamic evolution, which has included substantial profits and increased investor confidence. This development reflects optimistic 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 bullish trend is tremendous, it’s critical to approach the cryptocurrency market with care and a long-term mindset.
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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].
