Bitcoin Climbs Back Above $21k, Altcoins Recover, Market Cap Nears $1 Trillion Again
Get the weekly summary of crypto market analysis, news, and forecasts!
This Week’s Summary
- The Crypto Market ends the week at a total market capitalization of $957 billion.
- Bitcoin has increased by nearly 9% this week.
- Ethereum gained almost 16% over the past seven days.
- XRP surged by nearly 17% this past week.
- Almost all altcoins are trading in the green, with very few exceptions.
- The DeFi sector added over $2 billion to the total value protocols (TVL), now standing at nearly $39.52 billion.
Crypto Trends 20th – 26th of June, 2022: Market Analysis and Performance
The crypto market is finally closing a week with most of its assets trading in the green after a month-long bloodbath. Even the market capitalization has increased by $90 billion, nearing the $1 trillion mark after dipping below it last week. However, the most surprising comeback regards the altcoin sector, where the assets recorded value boosts up to 65%.
Bitcoin dropped below $18,000 last week, confirming the most pessimistic views on the crypto winter. However, just as with everything crypto-related, a wave of volatility brought it back up above $20k. Therefore, it validated those seeing this dark period as only a blimp in the stellar evolution of the crypto market.
Following a 9% value surge over the past seven days, BTC has regained a significant chunk of its recent losses. More importantly, it showed that the Bitcoin community doesn’t let things go too far. Currently, Bitcoin is trading at around $21,400.
Ethereum is also making a hope-inducing comeback following a 16% increase this week. The second crypto in command was close to falling below the $1,000 level only four days ago. Now, it is comfortably trading at around $1,250.
Altcoins & DeFi
This week’s biggest news in the crypto market comes from the altcoin sector, witnessing massive recoveries across the board. For example, Solana has increased by 25% after a positive release of its first web3 Android-running smartphone, Saga. Elsewhere, most altcoins are trading in the green. For example, Cardano is up by 10%, and Dogecoin increased by almost 30%. Moreover, Avalanche is up by 36%, XRP gained 17%, and Polygon surged by no less than 65%.
The Metaverse sector is also seeing better days, with most projects following the market’s uptrend. For instance, ApeCoin is up by 32%, and Axie Infinity increased by almost 30%. Meanwhile, Decentraland is up by nearly 25% and Theta Network by 21%.
The DeFi sector added over $2 billion to the total value protocols (TVL), now standing at nearly $39.52 billion.
Crypto Market Analysis – What’s in the News?
Next Week’s Crypto Market Forecast
The crypto market is finally getting a break from the constant bashing over the past two months. Most of its prominent assets are trading again in the green. This way, investors can look to the future with a glimmer of hope. We can only hope this uptrend will continue for many weeks.