As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I must say this week has been nothing short of exhilarating. The surge in market capitalization is reminiscent of the early days of Bitcoin, a time when every new development felt like a giant leap forward for our digital economy.
It’s been a very positive week for the cryptocurrency market. The total capitalization managed to add around $140 billion and is currently more than $2.4 trillion. This comes on the back of impressive performances from many coins, but let’s start with Bitcoin.
Right now, Bitcoin is trying to break through the $66K mark, a price level not seen since early August. The past week has had its ups and downs, but ultimately the bullish sentiment has held strong. It’s intriguing to see if this momentum can be sustained, especially considering the upcoming U.S. presidential elections, which could cause market turbulence.
In relation to this, it’s worth noting that Donald Trump has expressed his approval of the sector on numerous instances in recent months. On the other hand, Kamala Harris had been quiet, but her stance seems to have evolved over the last week.
During a recent speech, Harris pledged to reaffirm the country’s position as a leader on the world stage in fields crucial for the coming century… She emphasized the importance of maintaining our dominance in artificial intelligence and quantum computing, blockchain technology, and other cutting-edge innovations.
In summary, both candidates appear to be advocating for the industry currently. Yet, it’s important to mention that they didn’t make significant contributions to this sector during their previous tenures – Donald Trump as President and Kamala Harris during her time as Vice President.
Apart from that topic, Changpeng Zhao, widely recognized without needing an introduction, was unexpectedly discharged four days prior to his scheduled release date as stated in a recent Fortune report. Now, Zhao, often referred to as CZ, is back in freedom after serving a 4-month term in prison. Exciting times ahead!
Surprisingly, it’s not Bitcoin that has shown the best performance over the last seven days. That distinction goes to SHIB, the dog-themed meme coin, which experienced a staggering 40% surge during this timeframe. This growth can be attributed to the resurgence of most meme coins.
It’s intriguing to observe whether this current upward trend will persist or if there’s a hidden trick up the bears’ sleeves.
Market Data
Market Cap: $2.412T | 24H Vol: $115B | BTC Dominance: 53.8%
BTC: $65,682 (+3.3%) | ETH: $2,654 (+4.2%) | BNB: $608 (+6.6%)
This Week’s Crypto Headlines You Better Not Miss
It appears that Changpeng Zhao, the former head of Binance, is being released earlier than expected, as indicated by recent reports.
Republican Representative Tom Emmer Criticizes Gary Gensler, Calling Him the Most “Historically Destructive and Lawless” Chairman of the U.S. Securities and Exchange Commission.
U.S. Bitcoin ownership is increasing significantly, with the main factor being a surge in demand for Bitcoin Spot Exchange-Traded Funds (ETFs). Notably, BlackRock has witnessed its largest monthly ETF investment to date.
In a recent speech, current U.S. Vice President Kamala Harris, who is vying for presidency in the upcoming November elections, has expressed her backing for blockchain technology.
15 Years After Its Mining: A Wallet from the Early Satoshi Era Transferred Bitcoins Mined in 2009 (Data), Showcasing Nearly 15 Years of Hodling!
It’s quite intriguing: Rapper Sean ‘Diddy’ Combs is said to be sharing a dormitory-like cell with Sam Bankman-Fried, the ex-CEO of FTX, according to recent reports.
Charts
This week’s article offers an in-depth examination of the pricing trends for Ethereum, Ripple, Cardano, Shiba Inu, and Dogecoin – follow this link to read the full price breakdown.
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2024-09-27 16:25