Crypto Markets Falter Amidst Ledger Controversy and US Uncertainty

Crypto Markets Falter Amidst Ledger Controversy and US Uncertainty


Bitcoin and Ethereum experience losses as Render (RNDR) sees significant growth and The Sandbox game (SAND) gains partnerships, while other top 50 assets including meme coin $PEPE and Sui’s native SUI token suffer losses.

Bitcoin (BTC) and Ethereum (ETH) lost some momentum in the previous week, cutting a three-week flatline amid the Ledger Recover controversy and growing concern over the United States debt ceiling deadline.

Bitcoin, the largest digital currency, saw a 3.5 percent loss in the previous week and is as of now currently worth $26,328 dollars. ETH dropped to $1,786, marking a 1.3 percent loss on the week, reports by Coingecko.

Amid the top 50 digital currencies, the market saw many of movement in the previous 7 days, with several  notable winners and some big losers.

The largest gainer of the week is Render (RNDR), which has seen an impressive 19.3 percent growth on the week. In the past day alone, it has climbed 13.6%– as of now currently worth $2.82. The Render Network is a decentralized platform that enables users to contribute their unused GPU power to render motion graphics and VFX.

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RNDR has been trending on Twitter platform this coming week thanks to its recent partnership with Apple and its integration with Solana (SOL) The big green candle could likewise be fueled by Render’s work on the new Pudgy Penguins toy line video. Past week, Pudgy Penguins CEO Luca Netz celebrated the project’s toy line launch on Amazon, saying “I want Pudgy Penguins to be the face of NFTs.”

The Sandbox game (SAND), a trending immersive Gamefi platform, commanded Second place in the previous 24 hours, gaining 5.4 percent and as of now changing hands at $0.51. These profits come alongside recent partnerships announced by the team with BBC mainstays “Top Gear” and “Doctor Who.”

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Not everything is green, on the other hand, with notable losses on both weekly and daily markers for other top 50 assets except Bitcoin (BTC) and Ethereum.

Somewhat expected after the unsustainable rocket ship it had become, meme cryptocurrency superstar $PEPE has seen a not so impressive week, losing 10.5 percent of its  price in the previous 7 days. On the other hand, in the previous day it saw a slight 3.3 percent jump, as of now trading $0.00000143.

On the other hand, Pepecoin isn’t alone in the red.

Not long after its official mainnet launch, Sui’s native SUI crypto token was one of the largest losers on the week with a 15.8 percent fall, currently worth $0.98 cents. Ethereum (ETH) growing solution Optimism (OP) likewise had a rough week, seeing a 12.6 percent red candle and swapping hands at $1.60. And decentralized application platform Algorand (ALGO) likewise saw double digit losses, currently worth $0.15 after an 11 percent loss in the previous week.

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