Market sentiment continues to improve as cryptocurrencies see another week of trading in the green. The market added about $70 billion to its total capitalization, while general sentiment is at a 10-month high.
It is interesting to note that Bitcoin’s dominance continues to increase. This means that it fared better than altcoins in terms of price performance. The leading cryptocurrency managed to add around 9% and is now fighting for the important $23,000 level. A couple of days ago the price aggressively rallied to $24K but was immediately rejected in what was a few hours of massive volatility.
According to many, the macro data favors risk assets as inflation is slowing, the US GDP numbers were better than expected and today’s PCE was in line with expectations. This, perhaps, has prevented sizeable corrections in January, as the price is almost all the way up.
This has not been the case for many altcoins.
For example, ETH is up around 2%, well below the performance of Bitcoin. BNB is around 3.4%, XRP – 3.5%, and so on. However, others, such as ADA, MATIC, Solana and DOT, registered increases of more than 10%.
This brings us to this week’s hottest story: Aptos. In fact, APT has been dominating all month, posting a massive 400% increase in the last 30 days. Over the last week alone, it has gained around 130%. Here are a few reasons why this could be.
All in all, the market continues with an upward trend. It remains very interesting to see if this will continue or if the broader concerns of a macroeconomic downturn will drag it down in the coming weeks.
market data
Market Cap: $1.085 Billion | 24H Vol: 69B | BTC dominance: 41%
Bitcoin: $23,091 (+9.5%) | ETH: $1,584 (+2.4%) | bnb: $305 (3.4%)
This Week’s Cryptocurrency Headlines You Can’t Miss
3 reasons why Aptos exploded by 400% in 30 days. Aptos is the leading cryptocurrency this week in terms of overall price performance, at least among the larger-caps. Here are three possible reasons why it increased 400% in the last 30 days.
Today in 2014: Ethereum was announced by Vitalik Buterin on Bitcointalk. Nine years ago, Vitalik Buterin introduced Ethereum for the first time on the Bitcointalk forum. It’s safe to say that nearly a decade later, the project has become one of the most important in the industry.
BTC Fear and Greed Index shows “Greed” for the first time in 10 months. For the first time in 10 months, Bitcoin’s Fear and Greed Index showed “greed.” This is an indication of improving market sentiment following the most recent rally in the BTC price.
FTX’s list of creditors includes Apple, Google, Amazon, WSJ and even the Australian government. A recent court filing revealed that the list of entities to which FTX owes money includes, among others, Apple, Google, Amazon, the Wall Street Journal, and even the Australian government.
Robinhood Twitter hacked, used to promote scam token. The Twitter account of the popular retail-oriented trading platform, Robinhood, was hacked earlier this week. It was used to promote a scam token.
dYdX extends the lockup period of 156 million tokens for 10 months. Decentralized cryptocurrency exchange dYdX has postponed its plans to unlock around 156 million tokens for another 10 months. This drove the price of its native cryptocurrency by 24% in one day.
Graphics
This week we have a graphic analysis of Ethereum, Ripple, Cardano, Aptos and Binance Coin. Click here for the full price analysis.
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cryptocurrency charts by TradingView.
