A Few Altcoins Stuck in a Downward SpiralĪfter a major rally the prior week, Toncoin (TON) is retracing its gains, falling approximately 13.8% over the past seven sessions. This momentum higher comes as Binance Chain selected Boba Network’s layer-2 solution to improve scalability and lower computational costs across the Binance network. Among the top-ten altcoins by market capitalization, the value of BNB jumped by nearly 14.9%. In addition, other altcoins also clung to the previous week’s gains and outperformed the broader market. The value of the AR token climbed over 44% after the team revealed a string of updates like Warp EVM wallet support, EVM signature verification, plugins to improve user accessibility, and other new features. Speculation that DOGE may be integrated as a medium of payment on Twitter further propelled its value, helping the token reach a six-month high of $0.16 before pulling back.īesides Dogecoin’s spectacular rally, decentralized storage network Arweave (AR) soared higher amid several new developments.
Months of price stagnation rapidly shifted following “Dogefather” Elon Musk’s Twitter acquisition, sending DOGE surging 71.5%. Hot on the heels of the Twitter handover, this week’s standout performer included Dogecoin (DOGE). Dogecoin Capitalizes on Twitter Handover as Altcoins Advance This accumulation trend reflects similar conditions leading up to the 2021 bull run, suggesting that BTC is priming for another upward breakout. The number had decreased sharply between June and September but is now reversing upwards. Meanwhile, CryptoQuant’s latest report shows that the number of BTC whale wallets holding 1,000 to 10,000 BTC is increasing steadily. According to Arcane Research, the 7-day average Bitcoin spot trading volume surged by nearly 46%. Bitcoin reacted sharply to the downside after the United States Federal Reserve unveiled another 0.75% interest rate hike on Wednesday to curb inflation while hinting that more hikes are inbound.ĭespite the sideways price action that defined weekly price performance, BTC spot trading volume surged during the period, indicating that investors are moving around many BTC across spot markets. November began with Bitcoin ( BTC-USD) facing an uphill battle to move past the $20,500 resistance level, with the flagship cryptocurrency dropping by roughly 1.80% over the last seven sessions.
You ballplayer invalid in-app get in your mechanism background.Bitcoin Holds Steady above Critical Support Level
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