Crypto Market Update
Major coins and tokens made early gains this week, followed by a few red days. Bitcoin (BTC) is currently trading at $36,735, marking a 2% increase over 24 hours. However, it has remained relatively flat over the past seven days after flirting with the 18-month high of $37,000. The U.S. Securities and Exchange Commission delayed spot Bitcoin ETF applications, signaling caution for investors.
Interestingly, meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) saw positive movement. DOGE, a favorite of Elon Musk, is priced at $0.08 with a slight gain over seven days, while SHIB is trading at $0.00000861 and saw a 2.5% increase after Manny Pacquiao announced the use of its blockchain for fundraising.
On the other hand, Solana (SOL) experienced a slowdown in its rally after hitting a yearly high. It is currently priced at $58.31 with a 5.6% increase over the past 24 hours. Avalanche (AVAX) surged by more than 46% over the week after J.P. Morgan tokenized portfolios using its blockchain, making it this week’s winner at $22.12.
Edited by Ryan Ozawa.
Hot Take
The crypto market has seen a mix of ups and downs this week, with meme coins and altcoins making significant moves. It’s essential to stay updated on these market fluctuations to make informed investment decisions in the ever-changing world of cryptocurrency.
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