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 Market Weekly Updates.
According to CoinMarketCap, the current market cap is ₹188.21 Trillion on 01 July. Meanwhile, in the past few months, even the top-performing coins were seen as moving bullish and were trying to continue their current market trend.
As of the past week, Bitcoin is priced at ₹5,280,786.22, reflecting a 4.29% surge within the last 24 hours with a marginal jump of 0.73% over 7 days. Talking about Ethereum, ETH is currently valued at 290,957.74, showing a 3.77% surge in the past 24 hours, with a ground-breaking jump of 2.74% over 7 days.
Crypto Market Weekly 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), Kaspa (KAS), and Polkadot (DOT).
In the past week, the price of Avalanche (AVAX) showed a 20.13% jump. Moreover, the token also experienced a marginal surge of 7.95% in the past 24 hours. The token is currently trading at the price of ₹2,486.65.
Talking about Kaspa (KAS), the token illustrated a 23.94% spike as compared to other major cryptocurrencies. However, KAS has shown a 2.17% drop in the past 24 hours, trading at a price range of ₹15.47.
In addition, the Polkadot (DOT) token jumped by 10.70% in the last 7 days. Moreover, in the past 24 hours, the token also surged by more than 3.78%. In addition, the price of the DOT token is trading at ₹523.85.
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 cryptocurrency market first started this week with some bearish momentum because of the delay of Ethereum ETF approval by the US SEC. This development significantly affected the sentiments of global investors leading to a short market turmoil.
However, some great developments like the continuous inflows of funds into the Bitcoin ETFs have prompted positive sentiment in the market, leading to a surprise surge of popular cryptocurrencies.
Crypto Market Weekly Updates: Trending News From the Last Week
▪️ The US Securities and Exchange Commission has launched a lawsuit against Consensys, MetaMask’s parent company. According to a lawsuit filed on June 28, the business has been acting as an unregistered broker and offering and selling securities via MetaMask Swaps since 2020.
▪️ The Securities and Exchange Commission (SEC) has postponed the launch of US-based spot Ether exchange-traded funds (ETFs), which many anticipated to occur as early as July 2.
▪️ VanEck, one of the earliest issuers of spot Bitcoin exchange-traded funds (ETFs) in the United States, has proposed a new Solana ETF.
️SunCrypto Views
The recent bullish trend in the cryptocurrency market demonstrates its dynamic evolution, which has included substantial profits and improved 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 encouraging, it’s critical to approach the cryptocurrency market with care and a long-term mindset.
For more crypto-related content like Crypto Market Weekly 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].
