XRP rally cools, MicroStrategy buys more BTC, market calms down: This week’s crypto recap

The broader crypto market has cooled slightly over the past seven days, with some of last week’s leaders heaving a sigh of relief. Namely, Ripple’s XRP was unable to maintain the major gains it posted seven days ago and has lost around 5% throughout this week. However, it may just be setting itself up for another leg. Let’s dive in

The total cryptocurrency market cap has declined by about $15 billion over the past seven days, indicating a cooling off. BTC was unable to move above $28,000 (where it is currently trading) with ease and is still struggling with that level, which seems quite significant.

Bitcoin dominance is down around 0.5% during the entire period, indicating that altcoins were able to outperform. This is not surprising. Ethereum managed to advance further, posting gains of a little under 4%, while Dogecoin (DOGE) exploded by 11%. This came on the back of an interesting development. Elon Musk stayed true to his promise, to the dismay of many, and changed the actual Twitter logo to one in Dogecoin. That’s right – the world’s second largest social media site had the Dogecoin logo for a few days.

Needless to say, DOGE price exploded, posting gains to the extent of around 30% before retracing and losing most of them – as it usually does.

Some other altcoins also managed to rise slightly. LDO is up about 3.5%, same as SHIB and others. On the other end of the spectrum, XRP was unable to maintain its upward momentum and lost around 5% on the week. It is currently priced around $0.5 – an important psychological and technical level, so it will be very interesting to see how things develop over the next week.

At the same time, MicroStrategy – the largest corporate holder of BTC in the world – added even more to its stack, taking it to 140,000 bitcoins. Earlier this week, the company’s CEO – Michael Saylor – reported that he had bought around $30 million worth of BTC. A comfortable bag.

That said, the market remains somewhat tense, and many are anticipating a Shepela upgrade on Ethereum’s network that will unlock Stake ETH. It is interesting to see whether this will lead to increased selling pressure or will be a non-event. In any case, the upgrade is due on April 12th.

market data

Market Cap: $1,224B | 24h Vol: $51B | BTC Dominance: 44.1%

BTC: $27,946 (-0.1%) | ETH: $1,858(+3.7%) | BNB: $311 (-1.9%)

This Week’s Crypto Headlines You Can’t Miss

MicroStrategy took its bitcoin holdings to 140K with another purchase. The world’s largest corporate holder of bitcoin – MicroStrategy – now owns 140,000 BTC. This happened after the company bought another $30M worth during the past week.

According to a former lawyer, this is what is holding back the price of XRP. According to a former lawyer, the fact that the SEC alleges that XRP is a security puts the entire chain at risk, and this is what is holding the price back. The cryptocurrency is down more than 5% on the week.

Is The Bitcoin Bear Market Really Over? Anthony Scaramucci thinks so. The founder of Skybridge Capital, as well as a former White House official – Anthony Scaramucci – believes that the cryptocurrency market has passed its bearish phase. He also reiterated that BTC will reach $1 million by 2030.

Cardano Gets Its First Oracle Integrator But ADA Backs Out. Cardano Network has launched its first oracle integrator. The project is called Charlie 3, and it can be considered as the Cardano version of the popular oracle provider – Chainlink.

The Treasury Department views decentralized finance as a threat to national security. The United States Treasury Department has argued that the area of ​​decentralized finance poses a national security risk. He also argued that, contrary to the name, the region is quite centralized.

BlackRock will sell $114 billion of inactive bank securities. The world’s largest asset manager – BlackRock – is cooperating with the United States government to sell approximately $114 billion worth of dormant bank securities associated with various failed financial institutions.

chart

This week we have chart analysis for Ethereum, Ripple, Cardano, Binance Coin and Solana – click here for the full price analysis.

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cryptocurrency chart by TradingView.

source: cryptopotato.com