This week, the crypto market experienced dramatic shifts. Bitcoin edged closer to the psychological $100,000 mark, while Ethereum maintained upward momentum. XRP stole the show with a massive rally, flipping Solana to become the third-largest cryptocurrency by market cap.
Key Highlights
Bitcoin Continuing to Bull
BTC Price: Closed at $97,775, up 3.1% this week.
Dominance: Rose to 50.5%, consolidating its role as a market leader.
Altcoin Adventures
โข Ethereum (ETH): Rose 2.8% to end the week at $3,850, boosted by ETF inflows and DeFi growth.
โข Ripple (XRP): Soared 78.1% this week, closing at $2.50. The surge came as Ripple's legal momentum shifted positively, helping it overtake Solana for the #3 spot by market cap.
โข Solana (SOL): Increased 4.9% to $237.03 but lost ground to XRP despite strong DeFi activity, with Total Value Locked (TVL) climbing to $8.2B
Regulation and Adoption
โข Taiwan: Implemented tighter anti-money laundering (AML) measures for crypto exchanges.
โข Russia: Advanced crypto regulations, including recognizing Bitcoin as property.
โข Brazil: Proposed stablecoin restrictions to ensure financial stability.
On-Chain Activityโข DeFi Growth: Solana led the way, while Ethereum and Base saw significant user inflows.โข NFT Revival: Volumes surged 15%, with key projects like BAYC showing renewed activity.
Whatโs Next?
โข Bitcoin's Milestone: Can BTC surpass $100,000?
โข Altcoin Moves: Watch XRP and Solana's battle for dominance as institutional adoption grows.
โข Regulation Watch: Major SEC rulings on ETFs could sway market sentiment.
Pro Tip: Stay vigilant about regulatory changes globally, as they could either accelerate growth or introduce volatility.
โJeromy Tawil, Head of Client Acquisition at Crypto Research Australia (CRA), brings over a decade of experience in financial markets.
