This Week in Coins: Entire Crypto Market Ends the Week Strong After Rocky Week – StartupNews.fyi

This Week in Coins: Entire Crypto Market Ends the Week Strong After Rocky Week – StartupNews.fyi

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This week in coins
Illustration by Mitchell Preffer for Decrypt.

The markets are finishing the week strong after a difficult week of gains and losses. He bitcoin price it is now $43,139, according to CoinGecko. That’s a 3% increase in seven days.

All eyes were on the largest digital asset by market and what it would do before, during and after the Federal Reserve Wednesday. advertisement on interest rates.

Traders had already priced in that interest rates would remain the same (and they did) and Bitcoin (BTC) it remained stable for a while while other coins and tokens fell.

But the asset’s price fell a bit after a more aggressive press conference in which Federal Reserve Chairman Jerome Powell made clear that the central bank was in no great hurry to lower interest rates. Stocks also took a hit.

At one point, the lowest BTC traded was below $42,000 per coin.

Solid economic data dropped yesterday: the U.S. Bureau of Labor Statistics announced that the United States added 353,000 new jobs in January and that the unemployment rate remained at 3.7% for the third consecutive month. Stocks rose, along with cryptocurrencies, Friday morning ET on the news.

He ethereum priceThe second-largest digital asset, fell earlier in the week (facing larger losses than BTC) before making profits. Ethereum (ETH) It is now up a meager 2% for the week and is trading at $2,306.

Elsewhere, Solana (SUN) He has been a winner again. Over the past week, he is one of the biggest winners, the solana price jumped more than 10% during the week ending yesterday. It is now trading at $97.86.

The increase in its price is likely due to a surge in commercial activity – transactions on the network. shot to a new all-time high, after Solana decentralized exchange (DEX) aggregator Jupiter finally released its JUP token airdrop.

The total market capitalization of the crypto industry today stands at $1.74 trillion, up almost 2% from the last day, CoinGecko shows.

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