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Weekly Market Review: BTC, ETH, TON, NEO, LEO

18d ago•

bullish:

bearish:

This week has been quite turbulent, as evidenced by the volatility witnessed in the crypto space over the past seven days. This can be attributed to several macroeconomic factors directly impacting cryptocurrency. Only three tokens managed to post gains over the seven days.

Bitcoin Price Review

Bitcoin (BTC) has had a rough week, as the crypto king dropped below $65K. As of press time, Bitcoin, trading at $64,443K, had seen a 7.7% dump from its previous seven-day price, as its market cap stood at $1.2T during the same period.

A wave of liquidation was the leading cause of this dump. Over $1.4 billion in open interest was removed from the market. On the LTF, the chart looks terrible, but on the HTF, it still looks perfect. Looking more closely, BTC has been selling in a wide range between $65k and $72k for about a month now. It might be best to take things a little more slowly because of the war in Israel and the half of Bitcoin next week.

Ethereum Price Review

Ethereum (ETH) also had a tough session this week, as it consolidated in today’s session. As of press time, Ethereum, trading at $3,056, had seen a 6.2% dump from its previous seven-day price, as its market cap stood at $367B during the same period.

Ethereum’s downturn can be attributed to the recent sell-offs amid the massive FUD over the week. However, the altcoin king shows signs of recovery despite the downturn. Ethereum’s TVL has been rising over the week, suggesting that holder metrics are rising.

Considering today was a big down day. Find it interesting the different chain dynamics.#AVAX has a good community but the chain just can't grow strong enough & hugely negative today like #SOL #Base #Optimism #Arbitrum working off #Ethereum make sense with TVL & % change today. pic.twitter.com/65ToFBt42L
— Ryan McBay (@ryanmcbay) April 13, 2024

Toncoin Price Review

Toncoin (TON) is this week’s top gainer, and it also managed some notable gains in today’s session. At the time of writing, Toncoin, trading at $6.52, had seen a 20.4% jump from its previous seven-day price, as its market cap stood at $22.4B during the same period.

Toncoin’s surge can be attributed to recent developments on the network over the past seven days. On April 12th, the TON community announced that TON developer documentation is now available in Mandarin, which might have driven more enthusiasm in the community.

NEO Price Review

Neo (NEO) is another gainer in today’s session as the altcoin posted some remarkable gains. At the time of writing, Neo, trading at $17.2, had seen an 11% jump from its previous seven-day price, as its market cap stood at $1.1B during the same period.

Neo’s pump over the week can be attributed to a recent partnership with Tria. This development brings expertise in pioneering and streamlining onboarding, embedded wallets, gas abstraction, and AI-based dApp engagement.

Our warmest welcome to @useTria into Neo X's ecosystem, bringing with them expertise in pioneering and streamlining onboarding, embedded wallets, gas-abstraction, AI-based dApp engagement, and more.

Together, we are bringing #Web3 to the world! https://t.co/Lc0cxRkJrt
— Neo Smart Economy (@Neo_Blockchain) April 8, 2024

UNUS SED LEO Price Review

UNUS SED LEO (LEO) is the last top gainer this week as it also managed some notable gains. At the time of writing, UNUS SED LEO, trading at $5.8, had seen a 1.4% jump from its previous seven-day price, as its market cap stood at $5.1B during the same period.

LEO’s metrics contributed to this week’s gains. Because of its special place in the Bitfinex environment, $LEO has become a powerful currency that provides many benefits and uses for those who own it.