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This Week’s Summary
Crypto Trends for the Week of Sept. 16-22, 2024: Market Analysis and Performance
The cryptocurrency market seems set to close with considerable gains across the board. Most cryptocurrencies have traded consistently in the green for nearly 12 days now, which is an impressive achievement and noticeable in the healthy recovery of most assets. Even the market capitalization consolidated above the $2 trillion mark on the back of a $100 billion value boost.Bitcoin ended last week a little above $60,000. It was an important triumph for the king of cryptocurrencies. After all, it had been drifting toward $50,000 for a few weeks. More importantly, over the past seven days, it cemented its position above $60,000. In fact, it even touched $64,000 for a few hours on Friday before returning to its comfort zone at around $62,000.Ethereum continued to improve on the back of a favorable market uptrend. Over the past week, the second crypto in command added another 7% to its value. This increase took its price closer to $2,600 and put it in a good position for a future attack on the much-coveted $3,000 level.
Altcoins & DeFi
Most altcoins have been seen trading in the green, with almost no exceptions. For example, XRP moved up by 1%, BNB by 4%, Solana by 6%, TRON by 2%, NEAR by 6%, Avalanche by 8%, and Litecoin by 4%. The only few downers have been Toncoin, which moved down by 2%, and Polkadot, which decreased by 5%.The memecoins have also been happily trading in the green. Shiba Inu increased by 4%, and Pepecoin by 3%. However, Dogecoin moved down by 1%.The Metaverse sector also witnessed some notable movements over the past week. For instance, Axie Infinity moved up by 3%, The Sandbox by 8%, and Stacks by 15%. Also, Render increased by 5%, Floki by 2%, Decentraland by 9%, and MultiversX by 5%.The DeFi sector added almost $4 billion to the total value in locked protocols (TVL), which is now at .
What’s in the News?
Next Week’s Crypto Market Forecast
The cryptocurrency market experienced an optimistic uptrend, to the delight of its supporters. Everyone, regardless of asset affinities, has been cheering on this surge.Altcoin supporters have been gearing up for the traditional Altcoin Season, a period when non-BTC assets increase exponentially in value, often outperforming Bitcoin. Meanwhile, BTC fans have been preparing for ‘Uptober,’ a term used to describe the month of October when Bitcoin generally fares better than the rest of the year. With an overall positive market sentiment, this could be an exciting period for cryptocurrency enthusiasts everywhere.
About the Author
Born and raised in Romania, and currently living in Spain, Iulian discovered a knack for writing from a tender age and won some minor awards for fiction that didn’t pay much.Iulian became a content writer in 2011, and he’s still doing it to some degree of success today. He is currently specialized in cryptocurrencies, technology, online marketing, and social media. In his free time, Iulian likes reading, traveling, and watching sports. His dream is to see Bitcoin reach $100,000, just so he can tell his friends “I told you so!”More By This Author:Over 150,000 ETH Moved To Exchanges In The Last 24 Hours: What’s Next For Ethereum?Bitcoin Hype Remains Low Even After $63,000 Surge: Green Sign For Rally?Bitcoin Approaches $65,000: Is Now The Perfect Time To Buy?
