Forever Weekly Cryptocurrency Market Updates| 03 June 2024

The cryptocurrency market has been consolidating over the previous week, with prominent cryptocurrencies like Bitcoin and Ethereum seeing big ups and downs.

The events of the previous week sparked optimistic sentiments in the cryptocurrency sector, and we’re excited to see what this month has in store. Before you begin, check out our Weekly Cryptocurrency Market Updates.

According to CoinMarketCap, the current market cap is ₹210.93 Trillion on 03 June. Meanwhile, in the past few months, even the top-performing coins were seen as experiencing massive ups and downs and were trying to set a new market trend.

As of the past week, Bitcoin is priced at ₹5,704,356.25, reflecting a 0.95% surge within the last 24 hours with a marginal drop of 2.06% over 7 days. Talking about Ethereum, ETH is currently valued at ₹317,011.84, showing a 0.17% fall in the past 24 hours, with a ground-breaking drop of 4.36% over 7 days.

Weekly Cryptocurrency 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: Toncoin (TON), Chainlink (LINK), and Kaspa (KAS). 

In the past week, the price of Toncoin (TON) showed a 7.66% jump. Moreover, the token also experienced an impressive surge of 10.74% in the past 24 hours. The token is currently trading at the price of ₹580.61.

Talking about Chainlink (LINK), the token illustrated a 3.96% spike as compared to other major cryptocurrencies. However, LINK has shown a 2.14% drop in the past 24 hours, trading at a price range of ₹1,494.70.

In addition, the Kaspa (KAS) token jumped by 2.03% in the last 7 days. Moreover, in the past 24 hours, the token also surged by more than 5.83%. In addition, the price of the KAS token is trading at ₹12.09. 

Top Crypto Gainers & Losers

The past week remains one of the most stressful 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:

Weekly Cryptocurrency Market Updates

How the Crypto Market Became Bearish?

The cryptocurrency market has experienced multiple ups and downs in the recent week as a result of the US SEC’s pending approval of S-1 applications. Big institutions and investors are currently keeping a watch on this development, and once Ethereum ETFs are approved, we will undoubtedly see a new market trend.

Apart from that, Donald Trump recently became the first former US president to be convicted of a crime when a New York jury found him guilty on all charges in his hush money scandal. This revelation has sparked FOMO in the US crypto market, as Trump has become increasingly outspoken about cryptocurrency.

Weekly Cryptocurrency Market Updates: Trending News From the Last Week

▪️ According to Triple-A, worldwide cryptocurrency adoption has reached a new high in 2024, with 562 million owners, a 34% rise from 2023. This tremendous development demonstrates the growing reach of digital currencies, which are currently held by nearly 6.8% of the worldwide population.

▪️ BlackRock, a well-known asset management business, recently revised its S-1 filing with the US Securities and Exchange Commission (SEC). This represents substantial progress towards the introduction of a spot Ethereum (ETH) exchange-traded fund (ETF).

▪️ Mastercard has introduced its Crypto Credential, which allows customers to send and receive cryptocurrency using aliases rather than sophisticated blockchain addresses.

SunCrypto Views

The recent optimistic trend in the cryptocurrency market demonstrates its dynamic evolution, which has included substantial profits and confused 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 optimistic trend is encouraging, it’s critical to approach the cryptocurrency market with care and a long-term mindset.

For more crypto-related content like Weekly Cryptocurrency Market 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].

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