Last week’s developments created a buzz in the crypto users’ minds. We have to see what this month is planning for the crypto community. But before that check out Weekly Crypto Market Round-Up here.
According to CoinMarketCap, the current market cap is ₹88,079,862,455,954 on 18 September. In the past year, even the top-performing coins were seen struggling in these challenging times and are trying to make a comeback.
For this last week, Bitcoin is at the price of ₹2,213,839.85 and has increased by 0.42% in the last 24 hours, and a hike of 2.07% is seen in the duration of 7 days.
The price of Ethereum at the moment is ₹135,339.07 and has decreased by 0.06% in the last 24 hours, and a dip of 0.38% is seen in the duration of 7 days.
Weekly Crypto Market 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: Bitcoin Cash (BCH), Toncoin (TON), and THORchain (RUNE).
In the past week, the price of Bitcoin Cash (BCH) showed a 10.53% hike. In addition, the token also experienced a hike of 0.50% in the past 24 hours. And the token is currently trading at the price of ₹17,711.24.
Apart from that, Toncoin’s TON token also jumped by 34.12% in the past week. However, in the past 24 hours, the token fell by more than 2.95%. In addition, the price of the TON token is trading at ₹193.45.
Talking about Shiba THORchain (RUNE), the token illustrated a 20.61% jump as compared to other major cryptocurrencies. On the other hand, SHIB has shown a 1.59% loss in the past 24 hours, trading at a price range of ₹156.17.
Top Crypto Gainers & Losers
The past week remains one of the most bearish 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:
Why Crypto Market Remain Bearish?
The value of Bitcoin (BTC) and other top cryptocurrencies has dropped dramatically in the last week compared to their previous highs due to pressure from the Securities and Exchange Commission (SEC) and other regulatory authorities.
Apart from that, the hopes of the investors were shattered as the SEC delayed its judgment, citing worries about insufficient anti-manipulation safeguards.
Weekly Crypto Market Round-Up: Trending News From the Last Week
▪️ On September 15, Ethereum developers launched a new testnet. According to its developer documents, the network, dubbed “Holeky,” is intended to be utilized for staking, infrastructure, and protocol development.
▪️ Meta CEO Mark Zuckerberg has finally made the decision to move his metaverse Horizon Worlds beyond virtual reality headsets and onto people’s smartphones and laptops.
In a blog post published on September 15, the 3D avatar-based social network announced that it has begun rolling out its first Meta Horizon world to mobile and web in an early access condition.
▪️ The first transparency report for the Ethereum-based stablecoin PayPal USD has been issued by stablecoin issuer Paxos, saying that the coin is entirely backed by assets.
According to the report, the total assets held in PayPal USD custody “meet or exceed the token balance,” with $44.4 million in total tokens outstanding as of August 31, 2023. The notional position value totaled $44.5 million.
SunCrypto Views
Last week’s wild journey in the cryptocurrency market underlined the industry’s unpredictability. While unfavorable events and concerns continue, positive developments demonstrate the durability and promise of cryptocurrencies and blockchain technology.
As the cryptocurrency market continues volatile, it is critical for investors and enthusiasts to be informed, exercise care, and be prepared for more twists and turns in an ever-changing world. Only time will tell whether the positive tendencies will outweigh the disadvantages and lead to a more stable and profitable future for the crypto sector.
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