Top 5 Cryptocurrency News of the Week

What cryptocurrency news moved us this week? Find the top 5 crypto news of the week every Saturday.

The cryptocurrency market just rose by $50 billion in a very rapid recovery after some market watchers feared that it could be the start of the next phase of the downside that will revisit yearly lows.

But what caused such a sharp price hike across the cryptocurrency aggregator?

There are a number of factors that meet here.

For starters, the de-indebtedness seems to be over, and there may be no more dominoes to fall. distance Terra, Voyager, Celsius And the Three equity shares No more stones fell yet.

Top cryptocurrency prices oversold, whales pile up

Second, the sellers may have exhausted themselves as major currencies like bitcoin are in oversold positions.

The domain name trading volume of 3 websites has exceeded 3 digital artworks from the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and Non-fungible Token (NFT) collections.

Based on NFT market trading data open sea ENS is now the leading NFT project on Ethereum (ETH) in terms of trading volume for seven days. This means that the domain name service has bypassed even very popular NFT groups like BAYC, CloneX, and Moonbirds.

The trading volume of ENS names has reached 3,762 ETH or $6.6 million in the past seven days on OpenSea. For comparison, BAYC saw trading volume of 2,417 ETH ($4.2 million), while other popular NFT groups like Otherdeed for Otherside and CloneX saw trading volumes of 2,920 ETH ($5.1 million) and 981 ETH ($1.7 million) registered.

Some of the biggest players in the Web3 domain name domain include EThere is a name service (ENS) And the Domains that cannot be stopped.

ENS, for example, allows users to register domains on the Ethereum blockchain. Domains are programmable and can interact with decentralized applications (dApps) on the Ethereum blockchain. ENS domains follow the “name.eth” naming convention, while Unstoppable Domains can take many different forms, including “name.crypto”, “name.nft”, “name.bitcoin” and others.

Ethereum is getting an important update with ‘The Merge’. Ethereum fans are celebrating the event, and investors are hoping for a massive price jump. However, a senior analyst has now issued a clear warning in this regard. He predicts another crash in ETH – despite The Merge.

Ethereum: merger crashes?

While the cryptocurrency markets have been flashing green for the past 24 hours, Ethereum (ETH) everyone is facing a correction: the leading smart contract platform has lost about 4.2% since yesterday, leading to losses in the Top-20 cryptocurrency (data from Coinmarketcap. com). From yesterday’s high of $1,757, the bears pushed the asset as low as $1,683 – a new local low.

The trading volume increased slightly, about 20% compared to the value of the previous day. Ethereum has transferred $17.3 billion in the past 24 hours. For comparison, Bitcoin (BTC), the most valuable cryptocurrency by market capitalization, is worth $47.36 billion.

Meanwhile, ETH managed to recover a bit and rise to $1,710, where the coin is currently trading. If the popular trader and analyst is doing well, Ethereum is threatened with more pain in the short term – not very little.

Although Bitcoin and Ethereum are the undisputed leaders in crypto rankings, both currencies have one thing in common: they are expensive. Bitcoin currently costs around €21,000, while ether is currently priced at €1,600. These are sums that not everyone has at home to invest in. No wonder then that investors are also looking for slightly cheaper crypto alternatives with potential.

Benefits of cheap cryptocurrencies

Is it worth investing in a cheap cryptocurrency that costs less than 1 euro? Of course yes. Here’s why: cheap and new cryptocurrencies in particular have the potential for huge price jumps. A low price gives you the opportunity to buy a fairly large number of coins, so even small price increases can be felt. There are some cryptocurrencies that have risen sharply in the past, such as Dogecoin. DOGE cost $0.00026 when it was introduced. The all-time high was $0.45 in April 2021. If there are price losses, they usually don’t hurt the crypto too much.

4 Best Cryptocurrencies Under 1 Euro

Algorand (ALGO) – Cryptocurrency with MIT . Professor

Algorand is an open source decentralized network with its own cryptocurrency, ALGO. It gets fun when you dive a little deeper and really look at who’s behind Algorand.

Cardano (ADA) – Blockchain with a Scientific Approach

The Cardano blockchain with its native token ADA has long been considered the killer of Ethereum, which is actually no wonder. Cardano was launched in 2017 and the developer is none other than Charles Hoskinson, one of the founders of Ethereum.

Fantom (FTM) – The Next Ethereum Killer

The Blockchain Fantom’s original FTM token was hit as hard as Terra/Luna by the crypto crash. Coins differ in one important detail.

Tamadoge (TAMA) – meme coin with its own metaverse

If there are secret stars in the crypto world, it’s dogs. With Tamadoge, there is a new dog meme coin launched to conquer the crypto world.

Gary Gensler, CEO Securities and Exchange Commission (SEC), the regulator is intensifying the work of the regulator to expand the scope of regulation of the cryptocurrency industry. In his latest testimony before the US Senate, the official stated that he has a “flexible” path to registering coins with the agency, but his previous crypto-skeptical comments suggest that players in the crypto industry have a different approach to the approach that the SEC might take.

Gensler told the US Banking, Housing, and Urban Affairs Commission that of the “nearly 10,000 coins in the cryptocurrency market,” he believes “the vast majority are in securities.”

“As such, I have asked SEC staff to work directly with entrepreneurs to register their tokens and, where appropriate, regulate them as securities. Given the nature of crypto investing, I understand that there may be appropriate flexibility in applying existing disclosure requirements.” be,” he said.

Gensler also suggested that the Securities and Exchange Commission (SEC) could increase its cooperation with established financial players interested in entering the crypto world to increase institutional acceptance.

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