This Week’s Summary
Crypto Trends for the Week of Nov. 25 – Dec. 1, 2024: Market Analysis and Performance
The cryptocurrency market seems to have entered this year’s last month on a high. Most cryptocurrencies have been trading happily in the green, as some even hit new records. Only a few digital assets have failed to impress this week, which was marked by extreme volatility. Nevertheless, investors have been rushing into the market, with the market capitalization increasing by $120 billion.Bitcoin had a turbulent week that few had predicted. The king of cryptocurrencies was expected to finally climb above the daunting $100,000 threshold. Unfortunately, it went the opposite way, reaching as low as $90,000 mid-week.However, the bulls did not sit on the sidelines for too long, and quickly dragged its price back toward $99,000. Overall, BTC did not record any wins or losses this week. As a result, it has been trading at around $97,000.Ethereum doubled down on its previous successful week by increasing in value again. However, it went above and beyond this week, gaining 12%. It has been a good period for the second crypto in command, which looks eager to attack the $4,000 resistance level.
Altcoins & DeFi
Most altcoins have been seen trading in the green, with some impressive results. For example, XRP moved up by 43%, which took its value very close to $2. Elsewhere, Cardano rose by 9%, BNB by 2%, Toncoin by 16%, Avalanche by 12%, Stellar by 3%, and Polkadot by 6%. On the other hand, Solana stood out like a sore thumb with its 4% drop.The memecoins have been enjoying some of their best days, with impressive value boosts seen across the board. For instance, Dogecoin moved up by 4%, Shiba Inu by 29%, and Pepecoin by 12%.The Metaverse sector has also witnessed some notable movements over the past week. For instance, Axie Infinity moved up by 11%, Stacks by 21%, Render by 19%, MultiversX by 23%, Decentraland by 13%, and The Sandbox by 25%.The DeFi sector added almost $10 billion to the total value of locked protocols (TVL), which is now at around $126.84 billion.
What’s in the News?
Next Week’s Crypto Market Forecast
The cryptocurrency market appears set to close on a historically high note this year. The bulls have been relentless as they pushed most assets toward new heights. As more investors continue to flock to the market, the positive sentiment should continue throughout next week and, hopefully, the whole month.
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:Key Bitcoin Levels Under The Spotlight This Weekend: Insights From GlassnodeBitcoin Resets Open Interest, Targets $100,000 After Holding Key Support – DetailsIs Now The Time To Buy Bitcoin? On-Chain Data Reveals Key Indicators
