If you’ve been keeping an eye on the cryptocurrency market, you may have noticed that Ethereum has been leading the rally, with Bitcoin also surging past the $30k mark. Meanwhile, altcoins have been thriving, making for an exciting week in the crypto world.
This week’s market activity can be attributed to several factors, including the successful launch of Shapella, a decentralized finance (DeFi) platform built on the Ethereum blockchain. The launch has generated excitement among investors, contributing to the rise in Ethereum’s value.
Bitcoin’s surge, on the other hand, can be attributed to renewed interest from institutional investors, who are starting to recognize the potential of cryptocurrencies as a viable investment option. This increased interest has led to a surge in demand, driving up the value of Bitcoin and other top cryptocurrencies.
Altcoins, or alternative cryptocurrencies, have also seen significant gains this week. Many of these coins have unique features and use cases, which have attracted investors looking to diversify their portfolios.
Overall, it’s been an exciting week in the cryptocurrency market, with many investors seeing significant gains. As always, it’s important to keep an eye on market trends and do your own research before making any investment decisions.
This week saw the total cryptocurrency market capitalization soar above $1.3 trillion on the back of major increases from many coins. The sentiment has also improved considerably across the board.
Alien World’s TLM
Over the last 24 hours, TLM has shown a positive movement of 4.81%, backed by a trading volume of $14,890,762. This rise in value is a reflection of the growing interest and demand for Alien Worlds (TLM), currently ranked 336 amongst all cryptocurrencies. Alien Worlds has a market capitalization of $75,887,540 USD, showcasing the coin’s potential for growth and expansion in the ever-evolving cryptocurrency market. As more investors recognize the unique features and use cases of Alien Worlds, we can expect to see continued growth in the value of TLM, making it a promising investment option for those looking to diversify their portfolios. It’s important to keep an eye on market trends and do your own research before making any investment decisions, but for those willing to take the risk, Alien Worlds could be a lucrative investment opportunity
Bitcoin’s price managed to top the coveted $30K level – a point that we haven’t seen in 10 months. The week started relatively quiet as everyone was expecting the release of the Consumer Price Index. It’s largely used to gauge inflation in the US. Before its release, however, things took a somewhat unexpected turn, and the price shot up to $30K and remained there for a while.
The CPI came in at 5% for March, indicating that the inflation continues to slow down – for the sixth month in a row. This gave investors confidence, and the market remained seemingly strong. But this wasn’t the only major event that this week had to offer.
On April 12th, Ethereum went through the so-called Shanghai upgrade. It’s also referred to as the Shapella upgrade. Its name aside, the landmark network update finally enables validators to unstake the ETH they’ve been locking up to secure the network for years. Many predicted that this would flood the market with a tremendous supply of ETH. This wasn’t the case.
While a considerable number of ETH was unlocked, the market reacted positively. The cryptocurrency shot up to $2,100, surpassing the pivotal $2K level and leading the entire market into a fresh rally. This also caused many to think that the bear market has come to a halt.
A lot of altcoins followed suit, with some of them charting truly remarkable gains in the past seven days. Examples include Radix (XRD) – up around 65%, Injective (INJ) – up about 34%, Render (RNDR) – up 32%, and Arbitrum (ARB) – up around 26.5%.
Elsewhere, we also saw developments coming on the FTX front. Attorneys and bankruptcy have been able to recover some $7.3 billion from the company’s assets. What is more, it was also revealed that a potential restart of the exchange is also being considered – an announcement that was received with mixed feelings from the community, to say the least.
In any case, the week was undeniably bullish, and it’s very interesting to see if the momentum will carry on in the following days. Will Bitcoin and Ethereum continue their rally or will the market start correcting? Time will tell.
Market Cap: $1,331B | 24H Vol: $61B | BTC Dominance: 44.6%
BTC: $30,710 (+9.5%) | ETH: $2,105 (+12.5%) | BNB: $332 (+6.7%)
This Week’s Crypto Headlines You Better Not Miss
What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know. This week saw Ethereum successfully going through the Shanghai upgrade, which is also known as Shapella. Among other things, it enabled validators to finally unstake the ETH they’ve been locking for years to secure the proof-of-stake network.
Cryptocurrency charts by TradingView.