This Week’s Summary
Crypto Trends for the Week of March 25-31, 2024: Market Analysis and Performance
The cryptocurrency market appeared to be back on track after a couple of weeks of stagnation and minor losses. Most assets have been thriving after a generally successful week. In fact, some have boasted double-digit value boosts, delighting investors and long-term hodlers. Meanwhile, the overall market capitalization increased by $180 billion to reach $2,67 trillion.Bitcoin climbed back above $70,000 after going on a spectacular roller-coaster ride for the past two weeks. The king of cryptocurrencies dropped as low as $61,000 only 10 days ago. However, it remained solid throughout the past seven days, cementing its position above $70,000.Ethereum finally saw some better days after recent struggles. The second crypto in command was very close to dropping below the hard-earned $3,000 level. However, it recovered just in time to embark on a new ascent, hoping to conquer the $4,000 threshold successfully. Recently, ETH has been seen trading at around $3,600.
Altcoins & DeFi
Most altcoins have been trading in the green. The very few exceptions have been XRP, Avalanche, and Polygon, which moved down by almost 1% each.The good news is that most of the other assets have been thriving, especially memecoins. For instance, Dogecoin moved up by 19%, but it was on a 50% surge at one point. Similarly, BNB rose by 8%, Solana by 12%, Cardano by 2%, Toncoin by 5%, Shiba Inu by 8%, and Bitcoin Cash by 29%.The Metaverse sector also witnessed some notable movements in the past week. For instance, Axie Infinity moved up by 5%, Render by 1%, Theta Network by 2%, Decentraland by 3%, and ApeCoin by 4%. Also, ICP increased by 25%, the Sandbox by 4%, and Floki by 8%.The DeFi sector added almost $7 billion to the total value of locked protocols (TVL), now at $99.62 billion.
What’s in the News?
Next Week’s Crypto Market Forecast
The cryptocurrency market looks set to end March on a high after a month of spectacular surges and disappointing contractions. Thus, it enters the much-awaited BTC halving month with good prospects. Hopefully, this positive trend will continue for the foreseeable future.
About the Author
Born and raised in Romania, and currently living in Spain, Iulian discovered a knack for writing from a tender age and won some minor awards for fiction that didn’t pay much.Iulian became a content writer in 2011, and he’s still doing it to some degree of success today. He is currently specialized in cryptocurrencies, technology, online marketing, and social media. In his free time, Iulian likes reading, traveling, and watching sports. His dream is to see Bitcoin reach $100,000, just so he can tell his friends “I told you so!”More By This Author:Cardano Emerges As Developer Favorite: Tops Ethereum, Avalanche, Litecoin, And Tron In Github Activity Dogecoin Explodes 10% Daily, Bitcoin Reclaims $70kIs Bitcoin Due For A Correction? Will Bitcoin Halving Fail To Maintain The Bullish Momentum?
