Here’s a lowdown of the biggest events in the crypto world last week:
Bitcoin Crosses $118K To Reach a New All-Time High 🚀
Bitcoin has done it again, baby 💃. The world’s largest crypto unlocked a new all-time high after reaching $118,667 last week. After moving between $105K and $110K for about two weeks prior, there was eventually a boom that set the crypto market on fire 🔥.
For those who have been analysing the market moves, it wasn’t much of a surprise that BTC broke out. The US President, Donald Trump, has been continuously calling on the Fed (Federal Reserve) to cut down interest rates further. With more rate cuts comes an increase in the demand for risky assets like Bitcoin.
Plus, institutional investors aren’t slowing down on their Bitcoin (and Bitcoin ETF) accumulations, so it was only a matter of time before the demand translated into a massive overdrive.
Top Altcoins Respond With Big Green Moves 📈
The Bitcoin move instantly sparked a mini altcoin season, causing big green moves from top altcoins like Ethereum (ETH), Ripple’s XRP, Solana (SOL), Dogecoin (DOGE), and many others.
In the past week:
- ETH has increased by over 17%.
- XRP has surged by over 23%.
- SOL has increased by over 10%
- DOGE has increased by over 20%
- Stellar (XLM) has surged by a whopping 79%
Non-Fungible Tokens (NFTs) Get a Comeback 😎
If you thought non-fungible tokens (NFTs) were dead, you probably want to have a rethink after Snoop Dogg’s new Telegram NFT collection sold out in 30 minutes ⚡.
Almost 1 million NFTs inspired by the US rap star were bought on Telegram, with prices ranging from 200 to 15,000 stars, generating about $12 million in sales.
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢).
Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
