The Current State of the Crypto Market
The week did not end on a positive note for the crypto markets. The sector is showing signs of continued volatility, with a handful of top assets holding steady. Bitcoin, XRP, and Solana are down less than 1% in the past 24 hours, while Toncoin experienced a rare appreciation in value. The remaining top cryptocurrencies are struggling, and even most altcoins are having a tough time finding solid ground.
Bitcoin’s Performance
Bitcoin, the industry leader, has faced challenges in recent months. In the past 24 hours, it has lost 0.61% of its market value, currently trading at $58,222. Despite this, there has been gradual price increase. The cryptocurrency’s 7-day performance dropped by 4.37%. Recent activities include Washington transferring $594 million in Silk Road Bitcoin to Coinbase and $67 million worth of changes in BTC wallet activity.
Updates on Ethereum
Ethereum, the world’s second-largest cryptocurrency, has fallen behind Bitcoin in recent weeks. It lost about 2% in value in the past 24 hours, trading at $2,600. Over the week, its performance fell by 2.47%. Ethereum showed neutral outflows across 6 ETFs, but Grayscale’s ETHE lost $42.5 million.
Rise of Phantom Network
Fantom Network’s native currency, FTM, has been making significant progress in the market. In the last day, the coin gained 6.11% in value, reaching $0.39. The company’s shares rose over 16% in the past week, yet monthly results fell by 24%. Despite market fluctuations, TRON FTM continues to attract investors with its consistent growth.
