The crypto market prices are back again to the range zone; the market is not too bullish or bearish and seems netural. In the outlook, we will cover the week’s price movement summary and some of the notable events that led to the price fluctuation of some promising crypto coins.
Bitcoin: BTC is currently trading lower at $60996.39. Bitcoin price fell by 5.73% in the last seven days. However, the price rose by 3.86% during the previous 24 hours.
A Bitcoin mining company in upstate New York named Greenidge Generation has come to the attention for supposedly harming its mining facility’s environment. As per local news break, two environmental activists-Abi Buddington and Yvonne Taylor, took charge from Dresden, New York. In return, they declared to have received “threatening” letters from the company’s CEO, Dale Irwin.
The CEO of Webull-retail investment platform, Anthony Denier, advises that Bitcoin has no real-life fundamentals and said the asset price volatility is not a surprise.
Ethereum: Ether was seen trading with not much difference in price from the previous week. It is currently trading at $4,152.39. The price this week decreased by 0.63% and increased by 3.78% in the last 24 hours.
Due to high congestion in the Ethereum network, some Ethererum blocks are becoming deflationary. There is a continuous burning of ETH coins and fees, leading to more network pressure and high fees. There are 12 million less Ethereum issued today than distributed, making the whole day “deflationary.” as stated by the burn tracker service.
16,228 ETH have been burned in just a single today, which is a total value of $67 million. Compared to the issues amount to the stackers as rewards, the ETH values only $54 million. As rewards, only 2495 ETH is issued to the Miners.
Ripple: XRP is currently trading at $1.06; the price was down by 6.12% in the last seven days, and it is also in green by 4.51% during the previous 24 hours.
Santiment, A Blockchain analytics firm, is analyzing that XRP Ledger’s native asset (XRP) could surge in price, based on two metrics. Santiment Tweets that an expansion in the number of addresses on the XRP Network and a growth in social media suggests that XRP’s price could rise.
Litecoin: The current value of LTC is $187.83, and it’s up by 1.93% in the last 24 hours and in down by 8.50% over the past seven days.
After declining to 100,000 in October, there is a bounce witness in the number of Litecoin transactions climbing to 140,000 recently. The Litecoin Foundation tweeted about its new initiative to the launch of its new LTC Visa Debit card, powered by fintech firm Unbanked.
