Crypto Week at a Glance: Bitcoin Tops $21,000; Dogecoin in focus after Musk’s Twitter takeover
Bitcoin recovered to $21,000 on Friday after falling to around $20,000 on Thursday morning following the Fed’s hike.
Meanwhile, Ethereum bounced back above $1,640 after falling to $1,500 on Thursday. ETH remains well above the $1,340 level at the beginning of last week.
The payment giant is one of many that have gathered in the crypto space. Last Thursday, Visa filed for trademarks for cryptocurrency wallet transaction software and virtual environment software, indicating a meta-vest push.
Polygon (MATIC) is down 60% from its all-time high of $2.92 and has already made quite an impressive recovery against other altcoins.
Cardano recently completed its Alonzo hard fork, and Charles Hoskinson announced Age of , a digital event from 18-19 November.
Dogecoin price rose more than 55% to $0.1349. Despite the huge potential, ADA has a growth cap due to its already inflated market cap. However, the following new crypto projects could be ideal candidates for a 50x return for value investors.
LUNA Classic (LUNC) finally stopped its previous downtrend and settled down on Friday. However, the reason for the latest rally could be linked to the positive sentiment in the crypto market, which pushed several cryptocurrencies higher during the day.
LUNA Classic (LUNC) Next Burn – Coin LUNA Classic (LUNC) is one of the most talked about topics in the cryptocurrency community, especially since Proposition 5234 was passed and the burn tax was reduced from 1.2% to 0.2%. As a result, fewer tokens were sent to the burn wallet after each transaction, increasing the transaction volume of LUNA Classic (LUNC).
Friday’s jobs report showed that 261,000 jobs were added and the unemployment rate remained at a record low of 3.7%.
Binance appears to be interested in playing an active role in these Twitter operations, having invested $500 million in Elon Musk’s acquisition. Here is the first task that the crypto exchange wants to solve.
Coinbase (COIN) filed a petition Monday night with the Securities and Exchange Commission to support Ripple Labs in Ripple’s case. Ripple Labs, the creator of the Ripple Payment Protocol and the XRP token, is fighting a lawsuit that claims the crypto was sold as unregistered securities.
Elon Musk’s Dogecoin tweet on Halloween night inspired a wave of cryptocurrency scams that triggered yet another surge in the price of DOGE.
Today’s Bitcoin market dominance is 41.43. Its lowest recorded dominance was 37.09 on January 1, 2018. Bitcoin’s market cap is around $400 billion
Top 5 Winners of the Week (as of 10:00 AM IST 11 November 2022)
-Heritage (AR): 48% up
-Chiliz (CHZ): 39% up
-OKB (OKB): 34% up
– Loopring (LRC): 31% up
-Phantom (FTM): 27% up
Top 5 Losers of the Week (as of 10:00 AM IST 11 November 2022)
-Klaytn (KLAY): 22% down
-FTX Token (FTT): 8% down
-Ethereum POW (ETHW): down 7%
-Shiba Inu (SHIB): 7% down
-Dogecoin (DOGE): down 6%
Note: The study only includes the top-100 cryptocurrencies in terms of market capitalization listed on the data source, i.e. Coinmarketcap
Sathvik Vishwanath is the co-founder and CEO of Unocoin
