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 Updates here.
According to CoinMarketCap, the current market cap is ₹85,901,816,606,354 on 11 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 ₹2,133,070.09 and has decreased by 0.50% in the last 24 hours, and a dip of 2.28% is seen in the duration of 7 days.
The price of Ethereum at the moment is ₹132,240.47 and has decreased by 1.89% in the last 24 hours, and a dip of 4.03% is seen in the duration of 7 days.
Weekly 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: Solana (SOL), Toncoin (TON), and Shiba Inu (SHIB).
In the past week, the price of Solana (SOL) showed an 11.01% downfall. In addition, the token also experienced a fall of 2.84% in the past 24 hours. And the token is currently trading at the price of ₹1,482.41.
Apart from that, Toncoin’s TON token also dropped by 11.30% in the past week. Furthermore, in the past 24 hours, the token also fell by more than 3.30%. In addition, the price of the TON token is trading at ₹140.93.
Talking about Shiba Inu (SHIB), the token illustrated a 7.87 drop as compared to other major cryptocurrencies. On the other hand, SHIB has shown a 2.59% loss in the past 24 hours, trading at a price range of ₹0.0005993.
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?
Investors had high hopes for a spot BTC ETF approval, especially after heavyweight endorsements and filings from BlackRock and Fidelity. However, these hopes were shattered as the SEC continued to delay its judgment, citing worries about insufficient anti-manipulation safeguards.
Weekly Crypto Market Updates: Trending News From the Last Week
▪️ On September 9, leaders of the world's 20 largest economies — known collectively as the G20 — announced plans to advocate for the swift implementation of a cross-border framework for crypto assets. According to local sources in New Delhi, where members of the organization are attending a two-day summit, the framework will ease information exchange between countries beginning in 2027.
▪️ At the request of the Indian G20 president, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) produced a joint paper providing policy suggestions on September 7. The organizations collaborated to develop the document in order to integrate standards and aggregate collective recommendations in order to provide guidance and assist diverse jurisdictions in addressing risks related to crypto asset activity.
▪️ In a tweet on X — formerly Twitter — on September 5, MetaMask said that users with crypto wallets linked to the platform's Portfolio decentralized application would be able to cash out Ether and send money to bank accounts in the United States, the United Kingdom, and portions of Europe.
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 crypto market remains bearish, investors and enthusiasts must stay informed, practice care, and be prepared for future twists and turns in this 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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