The crypto exchange market has recently seen the birth of new companies to study before entering the sector. With an ever more comprehensive market offer, it is up to the individual investor to understand the industry’s best operator. Keeping in mind that different traders are better suited to different types of investors, today we will impartially talk about BitYard, a Singapore-born trader. Founded in 2019, BitYard is a cryptocurrency exchange that offers a range of services to its customers, as…
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This Week’s Summary
- The Crypto Market ends the week at a total market capitalization of $2,306 trillion.
- Bitcoin is up by almost 3% and trading again just above $50,000.
- Ethereum is down by almost 1% after a so-and-so week.
- XRP increased by almost 7% over the past seven days.
- Almost all altcoins have traded in the red for most of the week but recovered slightly on the weekend.
- The DeFi sector gained nearly $0,6 billion in Total Value Locked in protocols, which now stand at $100.72 billion.
Crypto Trends 06th – 12th of December 2021: Market Analysis and Performance
The crypto market is showing minor signs of recovery as the weekend draws to a close. However, don’t let the green values fool you. Almost all assets have bled heavily throughout the week, with significant losses across the board.
Nevertheless, at the time of writing, the market seems to be recovering. For instance, market capitalization has increased by almost $20 billion. Also, some of the altcoins have surged spectacularly in the past 24 hours. Lastly, the DeFi sector calls it even after an uneventful week.
Bitcoin is the biggest surprise of the weekend, with a nearly 3% increase. This value boost helps it trade again above $50,000, and investors get much-needed relief. On the other hand, it’s not enough to make us hope for a final surge before the year’s end.
Ethereum is trading at around $4,138, which is more or less the same value it recorded last Sunday. The second crypto in command has been seesawing all week. For instance, its value had dropped by more than 10% at one point. With only an overall 0.7% drop, ETH counts its losses and hopes for a better outcome next week.
Altcoins & DeFi
Ripple’s XRP is finally showing some signs of recovery as it ends the week with a nearly 7% increase. It’s not much, but it should help it remain in the top-10 cryptos by market cap for now. Also, it is too little to propel it back above the $1 level.
Elsewhere, Cardano is up by almost 3%, Polkadot has also increased by 6%. Meanwhile, Solana continues to go downhill with a 7% loss, and Algorand has dropped by nearly 12%
The GameFi sector has been in the spotlight for most of the past two months. However, many of its projects have flopped this week. For example, Decentraland is down by 1%, Sandbox by 2%, and Axie Infinity by 3%.
Crypto Market Analysis – What’s in the News?
- Opera partners with Solana to bring its Web 3.0. Network to mobile.
- Cathie Wood predicts a $500k Bitcoin price if institutions invest.
- The crypto community has slammed Pepsi for cringe-worthy use of NFT lingo
Next Week’s Market Forecast
The market sentiment is slightly negative but stable at the moment. With 2022 just around the corner, witnessing any cryptocurrencies produce a Christmas miracle will be enjoyable. Otherwise, we’ll have to wait for next year and hope that they will not only recover but surge again.