Leading XRP and PEPE, Bitcoin and Ethereum Markets Flat But Green: This Week’s Crypto Roundup

Well, last week there was some exciting news to offer, at least in certain segments of the market. The broadest capitalization barely increased by around $5 billion, currently sitting below $1.2 trillion. This was due to the relatively flat performance of the major cryptocurrencies, but some altcoins managed to surprise. let’s dive in

It’s been a back and forth with Bitcoin this week. The cryptocurrency was trading at around $26,500 this time last week and managed to rise to around $27,500 a few days later. It dipped back below $27K, only to test $27,500 again on Thursday. However, the bears were not having it and made another decisive turn down, putting the price of BTC where it is currently trading at around $26,800, registering a slight increase of 1.3%.

Ethereum is also trading up 2% weekly, followed by Cardano (ADA), MATIC, DOT, and TRX, all of which managed to post similar gains.

But that’s where things get more exciting.

Ripple’s XRP has risen by around 8% over the past seven days, positioning it as the clear leader within the top 10 cryptocurrencies by total market capitalization. The reasons are probably two. The judge presiding over the case against the US Securities and Exchange Commission (SEC) ruled against the agency’s motion to seal a certain record of former director Bill Hinman. Investors perceived this as bullish for XRP as it could have a positive impact on the outcome of the case. Ripple has also reached an agreement to acquire Metaco, a Swiss-based cryptocurrency custodian, for $250 million.

And then there is PEPE. The memecoin that occupies a central place in the cryptocurrency industry has risen 17% in the past week, leading the memecoin sector by a considerable margin. It is not known why PEPE is active, but as with anything related to memes, it could be for any number of reasons. However, it is very interesting to see if he will hold his position.

In any case, it remains very interesting to see how the market will shape in the coming days and if XRP will continue on its positive trajectory.

market data

Market Cap: $1.169 Billion | 24H Volume: $34 Billion | BTC dominance: 44.4%

BTC: $26,829 (+1.3%) | ETH: $1,810 (+2%) | BNB: $309 (+1.1%)

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Tether will buy Bitcoin: allocating 15% of regularly realized net operating profits in BTC. The company behind USDT, the world’s largest stablecoin Tether, will buy BTC. It announced that it will regularly allocate up to 15% of its realized net operating earnings.

Coinbase launches zero-fee trading, but there are pitfalls. Major US-based cryptocurrency exchange Coinbase is launching fee-free trading. However, there is a catch. Users will need to pay $30 per month to be able to take advantage of this feature, so it’s not exactly “zero charge.”

Ripple (XRP) enters into a $250 million deal to acquire Metaco. Ripple, the company behind XRP, announced the acquisition of Swiss-based cryptocurrency custody provider Metaco. The objective is to expand the firm’s services and grow within the institutional crypto-custody market.

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Graphics

This week we have a graphical analysis of Ethereum, Ripple, Cardano, OP and PEPE – click here for the full price analysis.