Image Source: This Week’s Summary
Crypto Trends 11 – 17 December 2023: Market Analysis and PerformanceThe crypto market is catching its breath from its recently unexpected surge. After most assets recorded remarkable gains over several weeks, it was time they retreated to more familiar comfort zones. As a result, most cryptocurrencies traded in the red this week. It’s worth noting that many investors chose to profit from the market’s rejuvenation and liquidated their positions. The overall decreased by almost $50 billion. started the week flying high and attempting to gain the $45,000 resistance level. However, the king of cryptocurrencies quickly reversed its trajectory, going on an unexpected downtrend. In fact, at one point, it reached as low as $40,000. Fortunately, the drop stopped there, and BTC recovered to stabilize its trading value at around $42,200. also lost precious value points this week on the back of a 5% decrease. On the bright side, the second crypto in command did not descend below the $2k. Despite the ongoing bleeding, many of its supporters could see it as a small win. Currently, ETH is trading at around $2,230. Altcoins & DeFiMost altcoins are trading in the red, with very few exceptions. This week’s losers include Chainlink, down by 10%, and TRON, down by over 5%. Also, decreased by almost 6%, Dogecoin by 5%, Polkadot by 2%, Toncoin, and Litecoin by 6%. Elsewhere, BNB is up by 1%, Solana by 3%, Cardano by 2%, and Avalanche by a whopping 28%.The Metaverse sector shares the same sentiment as the rest of the crypto market, with most projects trading in the red. For instance, is down by 6%, The Sandbox by 7%, Decentraland by 5%, and Theta Network by 1%. Nevertheless, some of the projects in this sector are thriving, such as ICP, up by 113%, Render (17%), and Stacks (6%).The lost almost $1.4 billion from the total value in locked protocols (TVL), now at . Crypto Market Analysis – What’s in the News?
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