Illustration by Mitchell Preffer of Decrypt.
The market ended the week in the red, with Bitcoin prices underperforming stock prices. old The highest price in 2021 is $69,044. It’s a long way from getting back to last month’s all-time high of $73,737. According to CoinGecko, the price per coin will be $67,957 as the weekend begins.
This price drop (the coin is currently down nearly 3% this week) is likely due to crypto fund manager Grayscale shifting more cryptocurrencies. After redeeming more than $300 million earlier in the week, outflows have since narrowed to an average of about $80 million a day.experts said Decryption The carnage is likely to end this week.
Bitcoin was not the only virtual currency that struggled. Of the largest coins and tokens, Solana The biggest loser is the current price of $176.82, down nearly 10% in seven days.
Congestion issues on the coin’s network have not helped the price fall, and other tokens running on the blockchain have also suffered. Popular meme token Dogwifhat (WIF) has fallen nearly 25% in his week and is currently trading at $3.38.
Popular Solana-based bonk also fell more than 18%. Memecoin performed well last week as one of the best-performing cryptocurrencies.
But when Bitcoin goes down, so does most of the market.
Of course, its competitors are different, but this week Bitcoin Cash reached its halving. The result was a massive 14% increase in seven days. The current price is $695.71. The 14th largest digital asset soared to its highest price since 2021, but has since fallen.
Despite being the only top-ranked green coin and token, it is still well below its all-time high of $3,785 in 2017.
Edited by Ryan Ozawa.
