Bitcoin Stagnates As U.S. Inflation Affects Crypto Market
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This Week’s Summary
- The crypto market ends the week at a total market capitalization of $3.22 trillion.
- Bitcoin stagnates at around $97,000 for another week.
- Ethereum is up by over 2% to trade at around $2,700.
- XRP is up by 13%, Cardano by 12%, and Dogecoin by 6%.
- Almost all altcoins are trading in the green, with very few exceptions.
- The DeFi sector increased the total value of protocols (TVL) to around $110 billion.
Crypto Trends 10 – 16 Feb 2025: Market Analysis and Performance
The crypto market closes in a week full of ups and downs. Most cryptocurrencies have spent the last seven days on a turbulent rollercoaster ride. Fortunately, as the week came to an end, many coins cemented their positions firmly into the green. Meanwhile, the market capitalization increased by over $70 billion, reaching $3.22 trillion.
Bitcoin led the market’s seesawing movement from as early as Monday. In fact, the king of cryptocurrencies failed to find stability until the weekend, dipping as low as $94K and rising as high as $98,000. This zigzag trajectory was replicated in the investors’ back and forth between FUD and sheer optimism. Currently, BTC is trading at around $97,000, not far from last Sunday’s price.
Ethereum is finally back trading in the green after a few desolate weeks. Unfortunately, the added value is not that impressive. The second crypto in command ends the week with a minuscule 2% increase, which helps it gain only about $50. Its supporters are hoping for more, especially since it falls below the psychologically daunting $3,000 level.
Altcoins & DeFi
Most altcoins are trading in the green, with very few exceptions. For example, XRP is up by 14%, taking its value to $2.76. Elsewhere, Cardano is up by 12%, BNB by 8%, TRON by 2%, Avalanche by 2%, Stellar by 7%, Litecoin by 23%, and Sui by 9%. On the other hand, Solana is down by 4%.
The memecoins are also showing recovery signs. For instance, Dogecoin is up by 6%, Shiba Inu by 2%, and Pepecoin by 4%.
The Metaverse sector has also seen notable movements in the past week. For instance, Axie Infinity is up by 4%, Render by 5%, and Stacks by 3%. Moreover, Virtuals increased by 10%, The Sandbox by 3%, Decentraland by 4%, and MultiversX by 1%.
The DeFi sector gained over $4.5 billion from the total value in locked protocols (TVL), which is now $110.15 billion.
Crypto Market Analysis – What’s in the News?
- The latest financial reports show unexpectedly high inflation in the US economy. This news affected most financial markets over the past week, including the crypto market.
- Grayscale filed for a Cardano exchange-traded fund with the New York Stock Exchange, causing ADA’s price to skyrocket overnight.
Next Week’s Crypto Market Forecast
The crypto market struggles to find stability in equally uncertain economic times. The daily reports coming from the US, some optimistic and others fatalistic, influence its many ups and downs. Hopefully, the trend will overturn, causing the slightly positive market sentiment to grow stronger.
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