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This Week’s Summary

• The cryptocurrency market looks to end the week at a total market capitalization of $1,046 billion.
• Bitcoin has increased by nearly 7% this week.
• Ethereum gained almost 20% over the past seven days.
• XRP has moved up by nearly 4% this past week.
• Almost all altcoins are trading in the green, with very few exceptions.
• The DeFi sector increased the total value protocols (TVL) to $42.95 billion.

Crypto Trends for the Week of July 18-24, 2022: Market Analysis and Performance

The crypto market is finally seeing some better days. Or more precisely, the market is seeing two consecutive weeks of better days. Most of its assets are continuously increasing in value, with some exceeding recent expectations. Even the market capitalization surged by over $80 billion to reclaim the $1 trillion level.

Bitcoin seems to have put the below-$20-thousand scare behind it, following another $1,000 boost in a week. The king crypto has moved up by almost 7% this week, reaching a commendable $22,600 position. Even the news of Tesla liquidating 75% of its BTC holdings failed to phase Bitcoin’s resilient comeback. Now, investors are hoping this trend continues for as long as possible.

Ethereum has been making even bigger leaps ahead in its bid to regain most of the lost gains. The second crypto in command has surged by almost 20% this week, bringing its price to around $1,600. It is an impressive run from a crypto asset struggling to remain above $1 thousand only two weeks ago. The news of Ethereum 2.0 reaching 95% of its completion has influenced it.

Altcoins & DeFi

The altcoin sector has been enjoying its green bath, covering almost all assets. For example, Solana has moved up 4%, just like XRP. Meanwhile, Polygon has increased by 15% and Avalanche by 12%. On the other hand, TRON has moved down by nearly 2% and Uniswap by 1%. Elsewhere, BNB has moved up by 4% and Cardano by 16%.

The Metaverse sector maintains the same uptrend as the entire crypto market. For instance, ApeCoin has moved up by 34% this week. Meanwhile, The Sandbox has increased by 11% and Axie Infinity by nearly 23%. Elsewhere, Decentraland has moved up by 14% and Theta Network by 13%.

The DeFi sector added over $2 billion to the total value protocols (TVL), now standing at nearly $42.95 billion.

What’s in the News?

• Taiwan is reportedly looking into banning the purchases of crypto via credit cards.
• Finland rose $47.5 million after selling a stash of seized Bitcoin.
• The police arrested a former Coinbase product manager on insider trading charges.

Next Week’s Crypto Market Forecast

The crypto market seems to have turned at least half a page on one of its bleakest periods. As most of the assets record a two-week recovery streak, we can hope that most will regain their recent losses. We can only hope this trend continues with no end in sight.

About the Author

Born and raised in Romania, and currently living in Spain, Iulian discovered a knack for writing from a tender age, and even won some minor awards for fiction that didn't pay much.

Iulian became a content writer in 2011, and is still doing it to some degree of success today. He is currently specialized in cryptocurrencies, technology, online marketing, and social media. In his free time, Iulian likes reading, traveling, and watching sports. His dream is to see Bitcoin reach $100,000 just so he can tell his friends “I told you so!”

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