This Week’s Summary
Crypto Trends for the Week of Sept. 23-29, 2024: Market Analysis and Performance
The cryptocurrency market looks ready to end September in style, as most assets have been trading healthily in the green. While this month started poorly for many cryptocurrencies, the tide turned drastically midway through it. The bears have been nowhere to be found, while the bulls have been driving the value upwards. This turn of events generated another $120 billion this week alone, taking the market capitalization to around $2.31 trillion.Bitcoin started the week in the green, just above $62,000. Contrary to other weeks, the king of cryptocurrencies increased steadily throughout the week. In fact, it got to as high as $66,300 for a few hours on Friday. Following a short-lived drop, BTC consolidated its position at around $65,700.Ethereum has also been on the rise, with another decent value boost gained this week. The second crypto in command has slowly but steadily been preparing an attack on the $3,000 level. It has been sitting comfortably at around $2,600 recently, hoping to better its position next week.
Altcoins & DeFi
Most altcoins have been seen trading in the green, with almost no exceptions. For example, XRP moved up by 11%, BNB by 3%, Solana by 10%, TRON by 4%, Cardano by 16%, Avalanche by 7%, and Toncoin by 5%.The memecoins have also been seen happily trading in the green. Dogecoin moved back in the green with a whopping 19% increase. Also, Shiba Inu rose up by 36% and Pepecoin by 41%.The Metaverse sector also witnessed some notable movements over the past week. For instance, Axie Infinity moved up by 11%, The Sandbox by 5%, and Stacks by 14%. Also, Render increased by 21%, Floki by 28%, Decentraland by 6%, and MultiversX by 3%.The DeFi sector added almost $3 billion to the total value in locked protocols (TVL), which is now at $88.84 billion.
What’s in The News?
Next Week’s Crypto Market Forecast
The cryptocurrency market appears ready to enter the last financial quarter of 2024 from a solid position. Most cryptocurrencies have been sitting on the important gains they have attracted over the past three weeks. The current positive sentiment is a great sign for a sector desperately seeking to return to the front page of financial news.
About the Author
Born and raised in Romania and currently living in Spain, Iulian discovered a knack for writing from a tender age, and even won some minor awards for fiction that didn’t pay much.Iulian became a content writer in 2011, and he is 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:XRP Set To Soar Nearly 900% To $31, Analyst Highlights Key Resistance
Bitcoin Breaks $65K With $365 Million In Spot ETF Inflows Fueling The Rally
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