Hi guys and welcome to a new week, a week of new opportunities, completion of any previous project, and basically an opportunity to complete unfinished plans if any.
Crypto Weekly is a weekly writeup that highlights how the market faired the past week with regards to BTC, ETH, and EOS.
Basically we explain what happened and what led to such things happening if any and if not we just give a summary of the market turn-out.
As usual, our today’s writeup will begin with BTC.
After weeks of staying below the $10k mark, BTC finally pushes through and it seems $12k might soon become a reality.
$10500 did act as a good support range for a while but soon later a break-out was bound to happen and the $11k soon became a reality, this was probably caused by various factors leading to one big bubble of FOMO.
From the weekend tweets that came from Jack, the CEO of twitter to other announcements/talk of new relief funds which others consider yet another reduction in the value of USD.
BTC is a limited asset having a total supply that will forever be minted, unlike our regular fiat currency which can be minted at all times depending on the countries choice. This in turn gives BTC and other altcoin value due to the overtime scarcity that will be incurred on such commodities.
While the world continues to adjust to this new system of wealth transfer, countries are beginning to explore the full advantages BTC holds and the future of digital currency becoming a norm might soon become the reality and no longer mere talks.
That said, individuals are always advised to do their own research before investing in any digital or offline platform.
Ethereum continues to prove ever-strong as a continuous upward movement is observed.
From an initial price of $336 starting this week, the price of ETH has climbed to a new week high of $393 and it seems this coin still has a lot of momentum waiting to push it higher.
The road to ETH version 2.0 is still undergoing and while we await progress reports, Ethereum continues to prove itself good as gas fee or transaction fee has gone down considerably.
Defi continues to dominate the blockchain space and it seems Defi with a touch of NFT is currently been developed and while the community is yet to fully understand the section, updates still goes on, and hopefully it too will become a norm just like DeFi.
Not the best week but definitely not the worse so far as EOS continues to make minor changes and updates.
A few weeks back we saw the price of EOS go as high as $2.9 only to reverse to its original price some few hours later, definitely not the pump we have been waiting for.
While the EOS community continues to stay hopeful, it seems trust is becoming hard to sustain as more users research on alternative and also diving into alt-chains like WAX, TELOS, and others.
That said, I believe or rather hope there is light at the end of the tunnel and those who waited and push ahead will be rewarded.
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