Top cryptocurrencies including Bitcoin (BTCEthereum (ETHThe market cap grew by $270 Billion in the last week. A market capitalization increase of 11.3% brought the sector to $2.64 billion. Worldcoin was also a major contributor to this commendable increase.WLD).
BTC records new ATH
This week, the uptrend in the crypto markets continued and several assets reached new heights. Bitcoin, being the most popular cryptocurrency, wasn’t left out of this trend. Its price saw massive increases, mostly due to the demand on the Bitcoin spot ETF market.
K33 Research: Data confirmed As of March 4, these Bitcoin ETFs had accumulated over 300,000 BTC, worth $17 billion. The products saw On Monday, $562 million was inflowed. These inflows demonstrate massive demand from traditional investor seeking exposure to BTC.
BTC jumped by 8.5% to $68,529 on March 4, thanks to this sustained demand. Bitcoin held on to the $68,000 mark despite the $68,529 resistance, hoping to use this as a launching pad for further gains. next day.
The asset will eventually breached Its previous ATH was on March 5. Then, it surged to a record high of $69,000. But the resistance positioned at this point caused a massive retracement, which saw BTC drop below $60,000 again for the first since February.
BTC recovered after this correction and continued to reclaim its lost gains. crossed The psychological threshold of $70,000 is crucial. The token has seen a slight correction, but it is currently trading at $69461, which is above the $69,000 psychological threshold.
Bitcoin surged by 10%, adding $130 Billion to its market capitalization. The asset is continuing to surpass expectations. This week several bullish projections were made by Bitget’s managing director Gracy chen. projecting An increase to $200,000.
Ethereum surpasses $4,000
QCP Capital analysts discuss the growing popularity of spot ETH ETFs explored Ethereum’s performance could surpass BTC as the bull market continues to grow. ETH ended March 6 at $3,800 after a 7.46% gain.
On March 8, Ethereum’s price climbed to a third consecutive day of gains. The crypto asset breached The $4,000 mark was breached for the very first time since 2021, on 8th March before a rejection.
ETH still has a way to go before it reaches the $3,956 mark.
WLD’s new ATH is above $11
Worldcoin suffered multiple regulatory setbacks during the week. However, its token, WLD, recorded a strong uptrend this week. It soared by more than 24%. WLD began the week on a downward trend, with its price dropping 6.86% from $7.36 to $7.40.
This collapse happened amid reports The South Korean Personal Information Commission may be investigating Worldcoin. WLD saw a steeper drop of 12% on 5 March amid unique bearish sentiments as well as the broader crypto-market retracement.
WLD recovered all of the losses from March 5. next Day despite the project ban In Spain. The token stabilized after a 13% gain on 6th March until news about OpenAI’s newly appointed board members became headlines.
In the late hours on March 8, the company announced the appointment of a new board member, indicating that Sam Altman was now a board member. WLD soared by 42% on March 9 to reach new highs of over $11, in response to this report. The asset finished the day up 55%.
WLD, despite its major correction, is still trading at its previous highs. The price of WLD today was $9.78, despite the 16% drop. Worldcoin has also gained 33% in the last month, beating BTC, ETH, and Solana.SOL).
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Source: crypto.news
