This cryptocurrency market ended the week with a market cap of $2.33 trillion, down 0.45%. Trading volumes also fell sharply, with 24-hour volume falling 16.02% to $80.78 billion, indicating caution among traders. Sequentially, the Fear & Greed Index remained neutral at 57, indicating mixed market attitudes.
Bitcoin continued to lead the market, rising 3.91% this week and closing in on an all-time high of 59.01%. Ethereum, on the other hand, rose more slowly, up just 0.65%, as traders waited for network scaling and ecosystem expansion updates. Solana is down 2.91% for the week, likely reflecting the sentiment of the broader market. Meanwhile, XRP has been very consistent, with a small difference in price tag.
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Weekly summary of the crypto market
Crypto.com surpasses Coinbase in North America
Crypto.com made headlines this week for surpassing Coinbase’s trading volume in North America. This spike reflects Crypto.com’s growing reputation and appeal among traders, who are attracted to its competitive offerings. Coinbase now faces increasing competition as exchanges battle for supremacy in the North American industry.
BlockFills Introduces Crypto-to-Fiat Payment Service
BlockFills, a digital asset startup, has developed a new crypto-to-fiat payment processing solution aimed at enterprises and FinTech organizations. This solution streamlines cryptocurrency transactions by enabling seamless conversions to fiat money, meeting the needs of large organizations.
Visa partners with Coinbase for crypto transactions
Visa’s latest partnership with Coinbase allows eligible debit card customers in the United States and Europe to make real-time cryptocurrency deposits and withdrawals. This marks a major milestone for the cryptocurrency industry, demonstrating greater institutional adoption and ease of use.
Michael Saylor’s fake Trump post sparks debate
Michael Saylor, executive chairman of MicroStrategy, falsely tweeted a false comment attributed to Donald Trump, claiming that “Bitcoin is money” and advocating for a tax-free cryptocurrency. Although quickly debunked, the post shows the ongoing problem of misinformation in the cryptocurrency space. As one of the industry’s key players, Saylor’s decline sparked a heated debate about the need for information verification, especially in a volatile market like cryptocurrency.
US recovers $19.3 million from recent hack
The United States government has recovered $19.3 million from a recent $20 million cyberattack, returning approximately 88% of the stolen funds. This result indicates regulators’ growing proficiency in asset recovery, providing some reassurance to the cryptocurrency industry about security improvements.
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