This week in the world of cryptocurrency, the XRP rally has slowed down while MicroStrategy continues to buy more BTC. The market has also calmed down, bringing some relief to investors. Stay up-to-date with the latest crypto news and trends with this week’s recap.
The Cryptocurrency Market Cools Down as Altcoins Outperform BTC
The cryptocurrency market cooled down over the past week, with the total market cap down approximately $15 billion. Bitcoin (BTC) was not able to break through the $28,000 level and is still struggling with this important resistance level. The Bitcoin dominance decreased by 0.5%, showing that some altcoins outperformed BTC. Ethereum (ETH) was one of the biggest gainers, posting gains of nearly 4%. Dogecoin (DOGE) also surged by 11% thanks to an interesting move by Elon Musk, who changed the Twitter logo to a dogecoin for a few days.
While some altcoins managed to increase in value, Ripple’s XRP failed to sustain its upward momentum and is down by approximately 5%. The market remains tense, and many are expecting the Shapella upgrade on Ethereum’s network on April 12th. The upgrade will see the staked ETH unlocked, and it is interesting to see if this will increase selling pressure or if it will be a non-event.
In other news, MicroStrategy, the largest corporate holder of BTC, increased its stack to a whopping 140,000 bitcoins, buying an additional $30 million worth of BTC this past week. However, the market remains unsure of what will happen next, and many are keeping a watchful eye on the charts.
Market Data
• Market Cap: $1,224B | 24H Vol: $51B | BTC Dominance: 44.1%
• BTC: $27,946 (-0.1%) | ETH: $1,858(+3.7%) | BNB: $311 (-1.9%)
This Week’s Crypto Headlines You Can’t Miss
1. MicroStrategy Took its Bitcoin Holdings to 140K With Another Purchase.
2. This is What’s Holding XRP’s Price Back, According to a Former Lawyer.
3. Is the Bitcoin Bear Market Really Over? Anthony Scaramucci Thinks So.
4. Cardano Gets Its First Oracle Integrator But ADA Falls Back.
5. Treasury Department Deems Decentralized Finance a National Security Threat.
6. BlackRock to Sell $114 Billion of Defunct Bank Securities.
Charts
This week, our chart analysis focuses on Ethereum, Ripple, Cardano, Binance Coin, and Solana. To learn more, please visit this link.
SPECIAL OFFER (Sponsored)
Binance is offering a limited-time special offer exclusive to CryptoPotato readers. Use this link to register and receive $100 free and 10% off fees on Binance Futures’ first month.
Disclaimer: Information found on CryptoPotato represents the opinions of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.