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What Happened in Crypto This Week? Investors Suffer Major Losses
- Global markets, including the US and major cryptocurrencies like Bitcoin and Ethereum, experienced declines this week.
- The US Federal Reserve lowered interest rates, while economic data showed mixed results with some indicators improving and others declining.
- The total crypto market cap dropped by 8.2%, with most top ten cryptocurrencies experiencing losses.
- Most top cryptocurrencies posted losses, including Dogecoin, Cardano, Solana, Ethereum, Bitcoin, XRP, and BNB.
- Bitcoin faced significant challenges, marking a 7.77% decline. Ethereum’s weekly performance fell by 12.97%.
- Binance HODLer Airdrops, Circle Ventures Portfolio, Binance Launchpool, Binance Labs Portfolio, and Coinbase Ventures Portfolio are the top five trending categories at the time of writing.
- In the last seven days, the Smart Contract Platform category has declined by around 6.7%, Layer 1 by 6.0%, Proof of Work by 4.4%, Proof of Stake by 11.6%, Centralised Exchange Token by 4.1%, Decentralised Finance by 9.9%, etc.
- Global markets, including the US, Europe, China, and India, experienced declines alongside an 8.2% drop in the cryptocurrency market.
- Despite these challenges, Stablecoins and Perpetuals showed resilience.
- Market fluctuations may shake confidence, but they also fuel the persistence that drives long-term growth.
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