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Solana Price Spikes As Brave Announces dApp Support

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Solana’s price witnessed a spike as the layer 1 blockchain forged a new alliance with the open-source web browser Brave.

Announcing the same, Brave software revealed that it has incorporated Solana dApp support into its browser to allow users to connect to top Solana applications like Magic Eden, Orca, Jupiter Exchange, and others for DeFi and NFT-related transactions.

SOL’s value increased by more than 6% in less than 24 hours as a result of the development. The 11th-ranked cryptocurrency, which was trading at $23.7 at the time this article was written, appeared to be beginning a new price rebound.

Solana’s ties with the privacy-focused browser, go back to late 2021 when the duo announced a joint collaboration to enhance wallet features across all versions of the browser for a better user experience.

The integration aimed to add support to Brave’s then 42 million active users and 1.3 million creators, making it the default browser to the layer 1 blockchain for all cross-chain activities and decentralized applications [DApps] support.

That said, the most recent integration was made possible on both the browser’s mobile and online versions. Users can earn small rewards in the form of a Basic Attention Token [BAT], and in its “all-encompassing and flexible” platform.

Most significantly, given it reaches the browser’s approximately 62 million active users worldwide, the relationship is considered a glimmer of hope for the once-hyped Ethereum killers.

Solana Looks To Regain Its Losses

Additionally, this occurs as the L-1 scaling platform has a strong start to 2023 after spending most of 2022 in decline as a result of the crypto winter. Additionally, SOL’s exposure to FTX contributed to its stock falling sharply in the wake of the FTX scandal in November 2022.

SOL, which is making its way back to the top, has benefited from the recovery in the cryptocurrency market as well. Despite being below its all-time high [ATH] value, it has improved in 2023.

A number of cutting-edge projects that Solana has started have piqued the curiosity of the cryptocurrency community.

For instance, the Solana Mobile stack and Saga phones will be unveiled, SolanaMobile said on Twitter. The goal of this mobile gadget is to give people quick access to the blockchain. They promised their customers that it would be available in early 2023.

Solana-based DeFi Withdrew Its App Due To Liquidity Crunch

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Everlend Finance, a Solana-powered DeFi will wind up its app platform, according to an official announcement on Feb 1.

Users have been asked to pull out their assets as quickly as feasible from the DeFi-based lending protocol. The team assured that the software will keep running until all withdrawals had been processed.

Additionally, it would switch the app to withdrawal-only mode.

Further, the team shared its plans to cover all raised and unused funds within the next two weeks.

Conceived in 2021, Everlend is a Ukrainian lending platform that secured financial backing from leading investors such as Serum, Everstake Capital, and GSR.

By the end of the first quarter of 2023, the firm plans to transition into a community-controlled DAO.

The team stated on February 1 that the most recent action was taken despite having ample runway to carry on in the current business environment.

But due to a liquidity crunch, the Solana DeFi lender was forced to reconsider its position, and continuing to operate in these conditions would be a “gamble”.

This comes at a time when another Solana-based DeFi yield platform too wind up its front-end app in January due to crypto headwinds.

Solana Defi ecosystem took a major hit in 2022, being left in a “maimed position,” as Ben Sparango admitted recently.

Sparango, the head of Strategic Business Development at Solana Foundation spoke about the Foundation’s aspirations for 2023. He said his main focus would be reviving the ailing DeFi sector and ramping up the financial use cases such as payments.

Solana Founders Plan To Revive The DeFi Sector

The co-founders of Solana laid out their vision for a decentralized future in a blog post on January 31. They said that Solana’s high throughput rivals that of the New York Stock Exchange and will boost the potential of cryptocurrencies even further.

“We believe that Solana making block space abundant and cheap will leapfrog crypto into its full potential,” they said.

Additionally, several of the data and bear market activities were emphasized. One such these is the significant growth in SOL validators last year. A second validator client developed by a third party is also being tested. In the test simulation, it boasted a staggering 0.6 million transactions per second.

Bitcoin Boom: $117M Influx Brings Investors Back To Digital Asset Market

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Investors are flocking back to Bitcoin, driving a surge in inflows for digital asset investment products. According to a recent report from CoinShares, last week saw $117 million pour into the space, the largest influx since July 2022. The bulk of the investment, a staggering $116 million, was directed toward Bitcoin.

image 102

The influx has driven the total assets under management in digital asset investment products to $28 billion, a 43% increase from November 2022 lows. 

The renewed interest in Bitcoin is a clear indicator of growing investor confidence in the leading cryptocurrency. With its recent upward trend, BTC is once again proving its resilience and long-term potential as a valuable investment opportunity. 

The increased interest in Bitcoin can be attributed to various factors, including the recent bull run and a growing interest in cryptocurrencies as alternative investment options. 

As the digital asset market continues to mature, it will be interesting to see if this trend of inflows into Bitcoin and other digital assets continues.

A Closer Look at the Inflows: Bitcoin & Others

Nearly all of the inflows ($116 million) were directed toward Bitcoin, while short-bitcoin saw a mere $4.4 million. Despite multi-asset investment products experiencing outflows for the ninth consecutive week, totaling $6.4 million, select investments such as Solana, Cardano, and Polygon received inflows. 

On the other hand, Bitcoin Cash, Stellar, and Uniswap saw minor outflows. Additionally, investment product volumes have improved, with $1.3 billion traded last week, a 17% increase from the YTD average. 

The broader digital asset market also saw an 11% rise in average weekly volumes. However, investment products still only make up 1.4% of total volumes on trusted exchanges.

Additionally, Germany led the way in inflows with 40% ($46 million), followed by Canada ($30 million), the US ($26 million), and Switzerland ($23 million).

image 103

Although blockchain equities saw inflows totaling $2.4 million, a closer examination reveals a divided sentiment among providers.

Despite the polarised sentiments, the inflows and rising demand for digital assets indicate a positive outlook for the industry. As investors continue to show a preference for select investments and improved volume, the future looks bright for digital assets.

Related Reading |  Binance And Mastercard Join Forces To Launch Crypto Card In Brazil

BudBlockz (BLUNT) Is Luring Away Solana (SOL) Investors

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The once-mighty Solana token gets replaced by BudBlockz, a pre-eminent firm uplifting the cannabis sector by putting an end to its problems.  

The incorporation of blockchain technology into any sector of the world has always proven to be beneficial. Recently, this phenomenal technology was amalgamated with the Cannabis industry to mitigate the problems. The firm behind the mingling of these two sectors together is BudBlockz. 

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An Overview Of BudBlockz: 

The expanding cannabis industry called for a structure that could provide solutions to its problems. Luke S, a crypto expert with profound knowledge of the cannabis industry, responded to this call by coming up with BudBlockz, a  decentralized, Ethereum-based investment platform. 

The firm focuses on providing solutions to cannabis firms in seed-to-sale tracking, recording, safekeeping of data and securing investments. BudBlockz also provides capitalists an excellent opportunity to invest in cannabis products, farms, and dispensaries.   

                                     

Ganja Guruz Collection and Fractional Ownership Market: 

BudBlockz makes the most out of NFTs by incorporating them into its structure. The firm has launched a total of 10000 NFTs called Ganja Guruz. Holders of Ganja Guruz will become eligible for the KYC application, following which they will get access to the fractional ownership market. Here investors may purchase a share in the farms and dispensaries and benefit from the dividend income. 

Holders of Ganja Guruz NFT can also enjoy numerous other benefits. They get free membership in all dispensaries that are associated with the firm. Ganja Guruz holders also enjoy attractive discounts on all cannabis products available in stores. Users can also sell their Ganja Guruz NFT on the NFT marketplace. 

A Highly Compatible NFT Marketplace: 

Budblockz has designed an NFT marketplace that is user-oriented, scalable, and compatible. The firm encourages its users to create digital cannabis art and sell them on the NFT marketplace. BLUNT is necessary for individuals trading digital art. 

Farms And Dispensaries: 

The firm not only has farms and dispensaries in many places around the globe that have relaxed rules and regulations but has also joined hands with other cannabis servers. Customers at dispensaries can pay either in cash or with BLUNT. Users of BudBlockz who own Ganja Guruz NFT can enjoy great discounts and promotional codes. 

BudSwap: 

To facilitate P2P transactions of BLUNT and other ERC-20 tokens  Budblockz has launched its decentralized exchange (DEX). The firm offers amazing rewards to users who stake their tokens. These rewards, in the form of BLUNT, are directly credited to the user’s wallet. 

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Where To Buy BLUNT? 

To allure an influx of investors, the BLUNT token will be available on centralized and decentralized exchanges. In the forthcoming times, investors will be able to purchase BLUNT tokens on the firm’s wallet app through the use of credit and debit cards. Investors looking to secure early investing benefits can resort to the presale currently in phase 4. The first 3 phases proved to be a great success. 

The Downfall of Solana: 

The once mighty Solana has been turned to ash. It lost more than 99% of its value in 2022. This occurred primarily due to the bankruptcy of FTX, a crypto exchange that has Solana’s back. 

Conclusion: 

Budblockz has managed to entice a large number of the population leaving behind Solana. 

Use promo code: BUYBLUNT for a 20% bonus on your purchase. Valid until January 31st.

Purchase or learn more about BudBlockz (BLUNT) at the links below:

Official Website: https://budblockz.io/

Presale Registration: https://app.budblockz.io/sign-up 

BudBlockz Community Links: https://linktr.ee/budblockz

Cardano Network Temporary Outage Resolved Within Minutes, Root Cause Unknown

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The Cardano network faced a temporary outage on January 22nd, which was resolved within minutes, according to a GitHub post by the network’s developers. Although the root cause of the error remains unknown, several developers took to GitHub to report the incident.

Rick McCracken, a developer working on staking tools for Cardano, stated in a tweet that the outage was not a complete network failure. Instead, there was a brief period of degradation that affected some nodes, but most of them recovered gracefully without needing a network restart.

Furthermore, a Telegram broadcast message from IOG SPO Announcements revealed that the incident occurred around 00:09:00 UTC between blocks 8300569 and 8300570. 

The message stated that approximately 50% of Cardano nodes disconnected and restarted, which impacted relay and block-producing nodes. However, it appears that edge nodes were not affected by the anomaly.

The developers explained that the anomaly was a transient issue that triggered one of two reactions in the nodes – some disconnected from a peer. In contrast, others threw an exception and restarted. However, the messages clarified that such issues were “considered in the design of the Cardano node and consensus,” and the system behaved as expected.

Solana Vs. Cardano Network’s Outage

Last year was a tumultuous year for the Solana network as it struggled to keep up with the demands placed upon it. Multiple outages occurred, with the worst one lasting a staggering 48 hours. 

These interruptions in service were particularly concerning for a protocol that was already dealing with overloads and had significant exposure to the now-bankrupt FTX exchange run by Sam Bankman-Fried.

Despite these challenges, the Cardano community is looking back on the situation with a sense of pride. The network’s quick revival without external intervention is being hailed as a triumph, and the fact that no network restart was required is being viewed as a testament to the robustness of the system.

The outages were a stark reminder of the importance of a decentralized and distributed network, and the Cardano community is determined to continue working to improve the network’s resilience in the face of adversity.

As the Solana network looks to the future, it will be crucial for it to address the root cause of these outages and ensure that its infrastructure is able to handle the demands placed upon it.

It is a lesson for all other blockchain networks and crypto enthusiasts that decentralization and distribution is the key to a robust and resilient network.

Besides this, Tom Stokes, a co-founder of Node Shark and Cardano SPO, reported in a recent tweet that a significant number of listed nodes were affected by a network sync issue. 

He provided a chart illustrating the drop in sync from 100% to just above 40% for over 300 reporting nodes. The chart shows that the network sync later recovered to around 87% but did not fully return to its previous level of 100%.

Related Reading | Ethereum Liquid Staking Market Booms With Lido & Rocket Pool Leading The Way: Report

Aptos (APT) Rose 57% in 24 Hours As Binance Announces New liquidity Pools 

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The cryptocurrency market has seen Aptos (APT) soar an impressive 57% in its daily chart, indicating a bullish trend and recovery toward previous highs. The rally can be attributed to a major announcement made by the leading crypto exchange, Binance, on January 20th.

According to an official statement, Binance has opened new liquidity pools for Aptos (APT/BTC, APT/USDT) in its Liquid Swap offering. Binance Liquidity Farming is a liquidity pool created using the Automatic Market Maker approach. Similar to other DeFi swaps, it consists of various liquidity pools, each containing two digital tokens that can be swapped.

The move by Binance to open new liquidity pools for Aptos is a major endorsement of the cryptocurrency and has led to a surge in investor interest. The announcement has also led to a significant increase in trading volume, with APT/BTC and APT/USDT pairs seeing a significant uptick in activity.

The market reaction to the Binance announcement suggests that Aptos has the potential to be a major player in the DeFi space and could be a strong rival to Solana, the current leader in the field.

Overall, the recent rally in Aptos is a clear indication of the growing interest and confidence in cryptocurrency, and it will be interesting to see how it performs in the coming days and weeks. With Binance’s support, Aptos seems to be on a solid path to recovery.

Aptos (APT) Price Review

In a stunning turn of events, the cryptocurrency Aptos (APT) has experienced a significant recovery starting January 12th, following the release of U.S. Consumer Price Index (CPI) data. This led to a rally that caused APT to close at $6.4632 with a massive 21.89% gain.

According to Coinmarketcap data, the token is now trading at $12.5, and its recent bullish momentum is evident from the cryptocurrency’s 20-day quickly approaching from $4.79 to a high of $12. The token’s weekly chart is also on a bull ride with about a 70% increase.

APT 1D graph coinmarketcap
Source: CoinMarketcap

Furthermore, the trading volume of APT has also seen a massive increase of about 400% in the last 24 hours, with the market cap increasing by about 57.40% in the same time frame.

Related Reading |  Shiba Inu Integrated In Robinhood’s Newly Launched Web3 Wallet 

Solana (SOL) Products See 13-Fold Increase In Investments In One Week

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CoinShares recently reported a significant increase in funds flowing into investment products related to Solana (SOL). These products attracted a staggering $1.3 million in the past week alone, a thirteen-fold increase from the previous month.

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Source: CoinShares

This spike in interest suggests that investors are once again showing confidence in the Solana project, despite recent doubts about its future in the cryptocurrency market.

It’s worth noting that this surge in inflows came in a week where the price of SOL rose 55% in a week, and Since December 30, the price of SOL has experienced a remarkable recovery, as reported by TronWeekly yesterday.

It began the new year by soaring from $8.3 to $24 on January 15, an impressive increase of 195% in two weeks. However, the data from Coinmarketcap shows that SOL is now trading at $23.55.

SOL 7D graph coinmarketcap
Source: CoinMarketcap

Additionally, the CoinShares Report also reveals that digital asset investment products saw minor inflows of $9.2 million last week. In comparison, trading volumes remained low at $866 million, indicating that the recent rally in digital assets was not investment product-driven. 

This led to a weekly gain of over 13% in assets under management, the largest since October 2021. Bitcoin had the most significant inflow of any asset at $10 million, but short-bitcoin investment products saw outflows of $1.5 million. 

Whereas Ethereum broke its 8-week streak of outflows with an inflow of $5.6 million, likely due to the overall improvement in sentiment. Multi-asset investment products continued to see outflows of $3.2 million, its 7th week of outflows totaling $16 million, suggesting investors are becoming more selective in their investments. 

Among Solana other altcoins, Polkadot saw inflows of $0.4 million, and XRP saw outflows of $3.3 million, reversing gains from the previous week. Blockchain equities also saw positive sentiment, with inflows of $3.8 million.

Transaction Priority Fees for Solana Network Users

Solflare, the revolutionary wallet on the Solana network, has made a game-changing move by introducing transaction priority fees for its users.

This allows them to prioritize their transactions by paying higher gas fees, even during times of network congestion. This move makes Solflare the first wallet to implement this feature in a user-friendly way.

Vidor Gencel, the co-founder of Solrise Finance, took to Twitter to shed light on the importance of this new feature. He stated:

In-wallet transactions will automatically be prioritized with the current market price for fees, ensuring that your transactions are included faster than those in other wallets.”

This is a vital feature for crypto users, as other wallets may leave their users stranded during peak network activity due to a lack of proper prioritization. Solflare, however, ensures smooth and seamless transactions by adapting to the network conditions in real time.

Furthermore, this new feature not only benefits the users of Solflare but also contributes to the overall stability of the Solana network by preventing users from overwhelming the network with repeat transactions.

The introduction of transaction priority fees by Solflare is a revolutionary step in the crypto wallet industry, and it sets a new standard for user convenience and network efficiency.

Dogecoin (DOGE), Solana (SOL), and Metacade (MCADE) rise as Markets Show Cooling Inflation

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The Consumer Price Index (CPI) figure for November 2022 showed cooling inflation for the fifth consecutive month, as the year-on-year inflation rate has fallen from 9.1% in June to 7.1% in November. 

This has had an effect on some major crypto tokens, including Solana (SOL), Dogecoin (DOGE), and Metacade (MCADE). Read on to find out more.

A cooling inflation rate: What is the CPI, and how has it impacted the crypto markets?

The CPI is a single percentage figure that measures the overall change in prices for a selection of goods and services. It is released on a monthly basis and measures the average change in prices over the previous 12 months.

News of cooling inflation had a positive impact on the crypto markets as DOGE, SOL, and MCADE saw a price reaction. SOL rapidly rose 17.4% after the CPI data was released, while DOGE rose 9.6%. MCADE, a brand-new GameFi platform that recently announced its token presale, completely sold out of its first investment round.

What is Metacade (MCADE)?

Metacade is the first community-driven arcade, offering a selection of classic arcade-style titles and various avenues for earning an income paid in crypto. The platform aims to become a central hub for Web3 users, introducing broad utility for token holders and offering exclusive job opportunities to the community.

How does MCADE work?

The on-chain arcade will offer casual and competitive gamers a range of different Play2Earn games, as well as Compete2Earn tournaments in which players can test out their skills head-to-head. Compete2Earn will involve paid entry games in which the winners can access major MCADE prize pools.

Metacade will connect users with paid roles at various Web3 projects through its Work2Earn feature. Jobs can include part-time gig work, freelance positions, or even beta testing roles that enable Metacade’s community to play new blockchain games before they are officially released. Beta testers will earn MCADE tokens for providing feedback to development teams, helping to fix bugs, and making improvements before a new game goes live.

The Create2Earn feature will reward the community for contributing to the platform in several ways. Whether interacting with other users, sharing game reviews, or posting the latest GameFi alpha, Metacade users can earn MCADE tokens for the information they share on the platform.

Can MCADE reach $1 in 2023?

In the wake of recent news about cooling inflation, the MCADE token presale has been a major success. Investors bought 140,000,000 MCADE in just over 3 weeks, which raised $1.12 million for the new GameFi platform. Many investors have been impressed with Metacade’s advanced earning mechanics, which are expected to attract a buzzing decentralized community over time.

The price of MCADE is expected to skyrocket at the conclusion of the presale event, with experts predicting a 50x gain during 2023. The token is currently underpriced at the $0.01 level, and cooling inflation means that macroeconomic conditions are improving. MCADE looks like one of the biggest investment opportunities during its presale, as major gains are on the horizon for MCADE.

What is Dogecoin (DOGE)?

Dogecoin is a popular meme coin that was initially created as a joke. Since then, DOGE has risen to prominence and become a fun entry point for new blockchain users – but the token has historically lacked any kind of utility.

In recent years, DOGE has become an increasingly popular method of sending international payments. The token has been used to tip content creators on various social media platforms, and rumors suggest that the token could be integrated with Twitter after Elon Musk, an advocate of Dogecoin, bought the platform.

DOGE Price Prediction 2023

DOGE remains a popular cryptocurrency and is currently a top 10 token by market capitalization. DOGE could reach $0.20 during 2023 but faces strong resistance at that price level.

What is Solana (SOL)?

Solana is a Layer 1 blockchain that combines two methods of reaching network consensus in a unique protocol – namely, proof-of-stake and proof-of-history. The blockchain is home to many decentralized applications (dApps) and can process a high number of transactions at a low cost to its users.

SOL price prediction 2023

SOL dipped over 70% in November because FTX and Alameda were major backers of the ecosystem. Both companies announced bankruptcy, which caused the price of SOL to plummet.

However, news of cooling inflation saw a recovery for SOL, and the token is expected to gain momentum during 2023. The Solana project continues to build, and SOL could reach $75 once again – a 7x rise from the current price level.

MCADE set to skyrocket in 2023 with cooling inflation

Macroeconomic sentiment has shifted positively due to the news of cooling inflation. Metacade is well-positioned, as the variety of decentralized earning opportunities are expected to boost its valuation during 2023.

The price of MCADE will rise from $0.008 to $0.02 over the course of the presale, with each funding round expected to sell out quickly. Investors have a limited time to get involved as it has been highlighted as one of the best investment opportunities of the year. It is certainly a great addition to any investment portfolio.

You can buy DOGE and SOL at eToro here.You can participate in the Metacade presale here.

Solana’s Price Doubled Since Dec: Here’s Why

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Ethereum killer- Solana has been on a remarkable price recovery since Dec 30. SOL kickstarted the new year, rising from $8.3 to $24 on 15 Jan, a staggering increase of 195% in just 2 weeks.

This is significant because the altcoin had a disastrous 2022 after plummeting over 90% and dropping out of the top twenty coins, per CoinGecko data.

But with the recent rebound, the token even edged out Polygon’s MATIC and jumped back in the top ten categories for a brief amount of time.

The token is currently exchanging hands at $24.7, surging by over 7% and 51% on the daily and weekly index

Furthermore, the 11-ranked token experienced its largest trading volume since the week of the unprecedented fallout of crypto exchange FTX, which greatly affected Solana and the majority of the crypto market in November.

But the event also triggered SOL’s price to reach its maximum level. The token registered a surge of 21% over a single day last weekend.

Another major driving factor responsible for the price rally was the recent unveiling of the Solana-based meme token called BONK, as reported by TronWeekly.

This sparked a buzz around Christmas and drove the price of SOL to a seven-day high at the start of the new year, contributing to Solana’s recent run of positive news.

Solana: BONK’s Value Skyrocketed To Over 3000% In the First 7 Days

Coin aficionados linked the debut of a new dog-themed coin BONK to the OG meme coins Dogecoin [DOGE] and the Ethereum-based token Shiba Inu [SHIB].

Data from CoinGecko revealed that BONK saw a startling 3,300% increase in the first week of the year, albeit to $0.00000487.

Despite the token’s price dropping 69 percent last week due to a subsequent five-trillion token burn, it still commanded a market cap of $57 million. In fact, it even increased by 20% in price during the previous 48 hours.

In addition to that, data from Delphi Digital highlighted the total number of active wallets on Solana has jumped to 83,000 from almost 45,000 per day. Market experts believe this has coincided with the rise of a new meme coin, within its ecosystem.

BONK rallied by over 130%, bringing back interest into the ecosystem. However, it has since crashed by over 38% in the last seven days.

Weekly Market Watch: Bitcoin & Ethereum Rises, Altcoins Follow in Their Footsteps

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The past week saw a positive trend in the cryptocurrency market, with bears losing ground to bulls for Bitcoin and Ethereum. While several altcoins recorded substantial gains on both weekly and daily charts, boosting overall market optimism.

There are some tokens on the list of weekly gainers with noteworthy boosts. Aptos (APT) is in the lead, followed by Decentraland (MANA). Solana (SOL) is in third place. There are also several other tokens that have made notable gains.

Aptos (APT), a Layer 1 PoS blockchain that is commonly referred to as a “Solana killer,” has been performing exceptionally well among alternative coins. On January 12th, APT saw a noticeable increase in value following the U.S. CPI data release. 

It led to a rally, causing APT to close at $6.55 with a significant 22% gain. Despite this, the latest data from coinmarketcap shows that APT is currently trading above its major resistance of $8.103, with a 6.39% increase in the past 24 hours and an impressive 112.24% gain for the week.

APTUSDT 2023 01 16 03 04 53
Source: Tradingview

Decentraland’s (MANA) token has seen a significant increase in value. It is currently trading at $0.7043 with an 18.94% rise in the past 24 hours 87.39% increase in the last seven days, according to CoinMarketcap. This spike in price is attributed to the new features introduced by Decentraland for its users, including new profile and avatar functions as announced via tweet.

MANAUSDT 2023 01 16 03 06 53
Source: Tradingview

Solana (SOL) has seen an impressive 70.32% increase in value over the past week, outpacing the overall crypto market as the weekend begins. Despite the positive trends of Bitcoin and Ethereum, both of which have risen above major resistance levels, Solana has caught the attention of many in the market by experiencing a 40% value surge in a short time frame on January 14th, as reported by Tronweekly.

As reported by Coinmarketcap, SOL is currently trading at $23.27 and has seen a 2% gain in the last 24 hours. However, this upward trend has helped to solidify Solana’s position in the market and demonstrates the strength of its ecosystem.

SOLUSDT 2023 01 16 03 03 17
Source: Tradingview

Moreover, some popular coins are experiencing gains in weekly charts, including Flow, with 52%, and Avalanche (AVAX), with an increase of 41%. NEAR Protocol (NEAR), with 35%, and Filecoin, with a 39% increase, according to the data from CoinMarketcap. Additionally, some altcoins with losses in the weekly charts are USDC, BUSD, LEO, and DAI.

Bitcoin (BTC) & Ethereum (ETH) Weekly Review

In the past seven days, bulls have gained an advantage over bears as the price of Bitcoin (BTC) surpassed its crucial resistance level at $21,000, and Ethereum (ETH) was traded near $1,600.

On January 12th, Bitcoin (BTC) experienced a notable surge in value, climbing to a two-month peak as it broke through the $19,000 threshold. This was the highest point for the coin since November 8th, when it briefly exceeded $20,000. 

BTCUSDT 2023 01 16 03 01 59
Source: Tradingview

With the bulls driving the price upward, the asset rose above $20,000 and even reached just above $21,000 in the early hours of January 14th. But it could not sustain it and dropped back down to $20,900 and closed the week at $20,976, which was open at $16,954, indicating a bullish trend.

Similarly, Ethereum (ETH) also saw an increase in value as it climbed above the $1,400 level. ETH began the week at $1,264.18, but the next day it broke through the $1,300 resistance and rose significantly, reaching a peak of $1,432.28 on January 12th. As the week came to a close, bulls managed to push the price to a major resistance of $1,563.74 on January 14th but were unable to maintain it and closed the week at $1,550.71.

ETHUSDT 2023 01 16 03 00 15
Source: Tradingview

However, CoinMarketcap’s data shows that Bitcoin is currently trading at $20,902.63, with a 0.04% increase in the last 24 hours and a 23.08% increase over the last seven days. On the other hand, Ethereum is trading at $1,552.30, with a 1.01% daily increase and a 22.00% increase in the weekly timeframe.

Related Reading |  Polygon (MATIC) Bull Run as Final Testnet for Zero-Knowledge Rollups Approaches