With the lowest trading volumes over the weekend, Bitcoin has been stuck at around $30,000 but is still holding above that level.
Most altcoins are also quiet, with ETH sitting at $2,100. INJ, however, has skyrocketed on a weekly basis.
BTC stops at $30K
The past week has been an eventful one for the top cryptocurrency, despite its slow start. BTC remained at $28,000 on Monday, similar to the previous weekend, but the picture began to change as the day progressed.
The bulls initiated a rally that resulted in BTC rising to $29,000. Unlike previous attempts to break above that level, this one was successful and Bitcoin soared past $30,000 for the first time since June 2022. Then came the US CPI announcement, sending the asset to $ 30,500 once again.
However, that was short lived and BTC was back $500 within minutes. Another price surge came on Friday as Bitcoin jumped just inches above $31,000 to mark a new ten-month high.
The next two days were much calmer and BTC has remained in a tight range between $30,000 and $30,500. Its market capitalization remains below $600 billion, while its dominance over alternatives stands at 46.1%.
BTCUSD. Source: TradingView
INJ weekly earnings
Most of the altcoins also posted impressive gains during the week, but have now subsided. Ethereum was at the forefront following the successful completion of the Shapella upgrade. ETH traded for $1,900 back then and broke above $2,100 to mark an 11-month high. Despite being slightly in the red now, ETH is still trading at that level.
The rest of the larger alternate characters are also sitting quietly. Binance Coin, Ripple, Cardano, Dogecoin, MATIC, Solana, Polkadot, and Litecoin are also slightly in the red or with minor gains.
Shiba Inu has jumped over the top 10 largest cryptocurrencies. SHIB is up more than 3% and sits at $0.000012.
The shot has gained almost 10% in the last 24 hours and almost 60% on a weekly basis. As a result, INJ is trading above $8.5.
The cumulative market capitalization of all crypto assets has essentially stayed in the same place as yesterday at just under $1.3 trillion on CMC.
Overview of the cryptocurrency market. Source: quantify crypto
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TradingView cryptocurrency charts.
This post Injective (INJ) Soars 60% Weekly, Bitcoin Holds Above $30,000 (Market Watch)
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