The crypto market closed the week with a market value of $2.33 trillion. The weekly decrease was recorded as 0.45%. Additionally, transaction volumes also dropped significantly. However, 24-hour volume decreased by 16.02% to $80.78 billion. This decline shows that investors are cautious. At the same time, the Fear and Greed Index remained at 57, reflecting mixed market sentiment.
Performance of Leading Cryptocurrencies Bitcoin and Ethereum
Bitcoin gained 3.91% this week. Additionally, this rise brought Bitcoin closer to its all-time high of 59.01%. However, it continued to maintain its leadership in the market. On the other hand, Ethereum showed a slower increase. Ethereum, which rose only 0.65%, showed investors awaiting news of network scaling and ecosystem expansion.
Solana is down 2.91% this week. Moreover, this decline developed in parallel with the general market sentiment. XRP, on the other hand, showed a relatively stable performance. However, it experienced only minor fluctuations in price. Investors remained cautious during this uncertain period.
Crypto.com Outperforms Coinbase
Crypto.com made headlines this week by surpassing Coinbase’s trading volume in North America. Moreover, this growth shows that Crypto.com’s competitive offers are attractive. The platform has found a solid place for itself by attracting the attention of more users. Coinbase, on the other hand, has to develop new strategies to maintain its position in this increasingly competitive market.
This increase in competition in the North American market is also reflected in the overall crypto ecosystem. Exchanges are trying to develop innovative solutions to attract more users. This will mean better services and lower transaction fees for users.
Crypto – Fiat Payment Solution from BlockFills
Digital asset startup BlockFills has announced a new crypto-fiat payment processing solution. Additionally, this innovation was developed for businesses and FinTech companies. Cryptocurrency transactions can now be converted to fiat currency without any problems. This solution will make crypto transactions more practical by meeting the needs of large organizations.
This service from BlockFills fills an important gap in the crypto world. However, by making transactions faster and more convenient, this solution will also increase corporate adoption. Making crypto-fiat conversions easier will enable the industry to reach wider audiences.
Visa and Coinbase Collaboration
Visa has provided an important service to customers in the USA and Europe, thanks to its new collaboration with Coinbase. Eligible debit card holders will now be able to make real-time cryptocurrency deposits and withdrawals. This innovation is considered an important step in the crypto world. This user-friendly solution will increase both the adoption of cryptocurrencies and the convenience of users.
This move by Visa shows that corporate acceptance in the industry is increasing. Making crypto transactions easier will lead to more users entering the industry. Additionally, users’ ability to make real-time transactions will enable them to use crypto more in their daily lives.
Michael Saylor and the Missharing Controversy
MicroStrategy’s chairman of the board, Michael Saylor, made a false post this week. He tweeted the phrase “Bitcoin is money”, attributed to Donald Trump, and made a post in which he asked for tax exemption. But this quote was immediately denied. The rapid spread of misinformation has created a huge debate in the crypto market. This mistake by Saylor showed once again how important information accuracy is.
Especially the mistake of an important name like Saylor caused great repercussions. In addition, this incident emphasized the importance of verifying information in the market and called on investors to be more careful.
US Government Recovers $19.3 Million
As we reported at Kriptokoin.com, the US government managed to recover $19.3 million following a recent $20 million cyber attack. This recovery means that 88% of the stolen funds have been recovered. If the authorities achieve this success, it will increase confidence in the crypto market. The ability to recover assets is a sign that security measures for investors are improving.
This development shows that the competence of regulatory institutions in the crypto world is increasing. Although cyber attacks are always a cause for concern, the ability to recover assets is a positive development for the industry. Investors are pleased to see security measures continue to strengthen.
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