Crypto Hub

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Powered by 21Shares This Week in Crypto The overall sentiment for the cryptoassets industry is still in shock from the market correction that happened over the past few weeks. The macro factors driving the markets are a by-product of the Russian invasion of Ukraine and China’s COVID Zero policy combined, with the Federal Reserve’s latest interest rate hike adding fuel to the fire. Food prices have gone up 37% year-over-year, spurring protests in Sri Lanka and Iran. However, panic selling seems to be coming to an end; large investors, such as MicroStrategy, are still holding on to their crypto holdings. Bitcoin is down by 13%, trading between $33K and $29K over the past week, shrinking its market cap dominance to 42.4% as shown in Figure 1. Ethereum is down by 20%, trading between $2,423 and $2,013. On the upside, the top gainers out of last week’s rally were Cosmos, Solana, and Cardano. Major Cryptoassets by Percentage of Total Market Capitalisation ...
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Powered by 21Shares Market Outlook Recovery is on track this week, with Bitcoin performing better by over 7% and Ethereum by 16% since last week. Avalanche is also up by a whopping 28.7%; a development that may be attributed to the increasing interest in the NFT ecosystem when gauging the 48% jump in the network’s NFT sales, as well as the excitement surrounding the expansion of Terra’s Anchor money-market protocol onto the AVAX network. ...