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This Week’s Summary

• The cryptocurrency market looks set to end the week at a total market capitalization of $2,35 trillion.
• Bitcoin rose by over 21% to trade at around $62,300.
• Ethereum increased by almost 13% to trade at around $3,400.
• XRP moved up by 15%, Solana by 26%, and Shiba Inu by a whopping 126%.
• Almost all altcoins have been seen trading in the green, with very few exceptions.
• The DeFi sector increased the total value of protocols (TVL) to around $92 billion.

Crypto Trends for the Week of Feb. 26 - March 3, 2024: Market Analysis and Performance

The cryptocurrency market has been enjoying one of the best periods in history. Most assets have been trading higher than they did in the past three years, with some marking record value boosts. As most cryptocurrencies have registered double-digit increases, the overall market capitalization increased by almost $370 billion. This surge has brought the market cap well and above the $2 trillion mark.

Bitcoin has been thriving during its pre-halving period. The king of cryptocurrencies moved up by over 21% this week, taking its value to around $62,300. However, at one point, BTC was trading at over $63,000 mid-week. This spectacular rise increased its overall dominance while marking its biggest-ever candle. Moreover, it pulled the entire market well into the green, helping every asset get a share of success.

Ethereum cemented its position above $3,000 with a 13% value boost. The second crypto in command continued to increase its value while aiming for a new all-time high. It has recently been seen trading at around $3,400, only $1,500 from the $4,900 figure it reached over two years ago.

Altcoins & DeFi

Most altcoins have been trading in the green, as some witnessed spectacular gains. For example, XRP moved up by 16%, Solana by 26%, Cardano by 25%, Avalanche by 17%, and Polkadot by 24%. The memecoins have also been prospering. For instance, Shiba Inu moved up 126%, Dogecoin 65%, and Pepe 324%.

The Metaverse sector also saw some notable movements in the past week. For instance, Axie Infinity moved up by 30%, ICP by 8%, Decentraland by 31%, and MultiverseX by 23%. Moreover, Render rose by 6%, Theta Network by 78%, and The Sandbox by over 31%.

The DeFi sector added almost $11 billion to the total value of locked protocols (TVL), now at $92.35 billion.

What’s in the News?

• MicroStrategy, the largest Bitcoin corporate holder, increased its stock value above $1,000.
• Worldcoin’s value dropped by 5% after Elon Musk announced he will sue its parent company OpenAI and its CEO, Sam Altman.

Next Week’s Crypto Market Forecast

The cryptocurrency market has been hogging all the headlines in financial news. Most assets have been flourishing in ways few expected at the end of 2023. Bitcoin has recently appeared to be only $2,000 away from its all-time high, similar to many other assets. In the last month before the much-expected halving, we may see even more pleasant surprises in the crypto market.

About the Author

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

Iulian became a content writer in 2011, and he's 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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