Bitcoin Climbs Back Above $21k, Altcoins Recover, Market Cap Nears $1 Trillion Again

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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.

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