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This Week’s Summary

• The cryptocurrency market looks to end the week at a total market capitalization of $957 billion.
• Bitcoin has increased by nearly 9% this week.
• Ethereum gained almost 16% over the past seven days.
• XRP surged by nearly 17% this past week.
• Almost all altcoins have been trading in the green, with very few exceptions.
• The DeFi sector added over $2 billion to the total value protocols (TVL), now standing at nearly $39.52 billion.

Cryptocurrency Trends for the Week of June 20-26, 2022: Market Analysis and Performance

The crypto market is finally closing a week with most of its assets trading in the green after a month-long bloodbath. Even the market capitalization has increased by $90 billion, nearing the $1 trillion mark after dipping below it last week. However, the most surprising comeback is in regard to the altcoin sector, where the assets recorded value boosts up to 65%.

Bitcoin dropped below $18,000 last week, confirming the most pessimistic views on the crypto winter. However, just as with everything crypto-related, a wave of volatility brought it back up above $20,000. Therefore, it validated those seeing this dark period as only a blimp in the stellar evolution of the crypto market.

Following a 9% value surge over the past seven days, BTC has regained a significant chunk of its recent losses. More importantly, it showed that the Bitcoin community doesn’t let things go too far. Bitcoin has recently been trading at around $21,299.

Ethereum is also making a hope-inducing comeback following a 16% increase this week. The second crypto in command was close to falling below the $1,000 level only four days ago. It has recently been comfortably trading at around $1,223.

Altcoins & DeFi

This week’s biggest news in the crypto market comes from the altcoin sector, which has been witnessing massive recoveries across the board. For example, Solana has increased by 25% after a positive release of its first web3 Android-running smartphone, Saga.

Elsewhere, most altcoins have been trading in the green. For example, Cardano is up by 10%, and Dogecoin increased by almost 30%. Moreover, Avalanche is up by 36%, XRP gained 17%, and Polygon surged by no less than 65%.

The Metaverse sector is also seeing better days, with most projects following the market’s uptrend. For instance, ApeCoin is up by 32%, and Axie Infinity increased by almost 30%. Meanwhile, Decentraland is up by nearly 25% and Theta Network by 21%.

The DeFi sector added over $2 billion to the total value protocols (TVL), now standing at nearly $39.52 billion.

What’s in the News?

• A YouTube scam investigator expressed doubts about TRON’s USDD coin.
• Goldman Sachs is raising $2 billion to buy Celsius assets.
• Coinbase launched the first crypto derivatives product for retail traders.

Next Week’s Crypto Market Forecast

The crypto market is finally getting a break from the constant bashing over the past two months. Most of its prominent assets are trading again in the green. This way, investors can look to the future with a glimmer of hope. We can only hope this uptrend will continue for many weeks.