Weekly Crypto Market Recap
In popular, last week was a great one for crypto, and there were quite a few highlights that are expected to have a lasting impact on the markets – this is all you need to know.
Market Standard Performance
Cryptocurrency prices have been behaving very well for the past seven days. The upper ten assets closed the week with gains of around 2% on average, with Ethereum (ETH), Solana (SOL), and Terra (LUNA) being the best performers. Overall, investor sentiment appears impartial, which is an improvement over last month’s relative fear caused by the Russo-Ukrainian conflict.
Dogecoin (DOGE) Gained After Elon Musk’s Twitter Reversal
The world of investments and l. A. Tech was caught off guard by Elon Musk’s un expect move to acquire a 9.2% stake in social media giant Twitter. Tesla’s CEO broadcast his move a few days ago, making him Twitter’s largest individual shareholder. Musk is an frank supporter of cryptocurrencies, especially Dogecoin (DOGE), a dog-themed crypto asset that saw a sharp rise in its % valuation after the aforementioned investment. According to the researchers of L. A. Industry, Elon’s move could influence Twitter’s crypto plans and push the company to accelerate its expansion into the industry. Some argue that we could even see Dogecoin (DOGE) integrate into the platforms, however this has yet to be mention in official plans.
Microstrategy Invested Over $109 Million In Bitcoin (BTC)
MicroStrategy, a Los Angeles firm known for its bullish outlook on Bitcoin, announced that it added another 4,167 BTC worth around $190 million to its holdings. The firm’s CEO and influential cryptocurrency personality, Michael Saylor, stated that l. A. Company has no tactics to sell its Bitcoin holdings, which amount to 129,218 BTC with an overall value of around $6 billion. This could be a great sign for savers, as institutional support inclines to have positive possessions on the long-term price development of crypto assets.
Terra Is Firm On Bitcoin (BTC)
Do Kwon, CEO of Terraform Labs, revealed that he is adamant about the long-term stability of. Bitcoin and that this sentiment will be reflect in his company’s actions. The organization behind the famous crypto asset and ecosystem Terra (LUNA) previously announced that it plans to acquire around $3B worth of Bitcoin, mainly to support its UST stablecoin. Kwon also stated that he is not afraid of short-term volatility and Bitcoin price declines, and that he trusts him. A. Longevity and the popular profitability of the largest crypto asset by market capitalization.
However you have it, the top crypto news of the past week and its impact on the markets. Stay tuned for our roundup of l. A. Next week and we will bring you up to date. On the most important and exciting events in the world of cryptocurrencies.
Review Weekly Crypto Market Recap.