Crypto markets fell sharply for the second week in a row amid increased world tensions, out of control inflation, and a hostile Twitter takeover.
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During the week, Bitcoin faced strong selling pressure on inflation news with a short burst on the heels of DOGE and news of Elon Musk’s Twitter bid. BTC ended the week down 6.84%.
Altcoins markets experienced a crypto-sell off as several privacy coins posted gains despite a sharp overall downtrend. The amount of Ethereum on exchanges is at its lowest level since 2018 as investors are choosing to self-custody their ETH or put it into DeFi protocols to earn yield.
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During the week, Bitcoin faced strong selling pressure on inflation news with a short burst on the heels of DOGE and news of Elon Musk’s Twitter bid. BTC ended the week down 6.84%.
Altcoins markets experienced a crypto-sell off as several privacy coins posted gains despite a sharp overall downtrend. The amount of Ethereum on exchanges is at its lowest level since 2018 as investors are choosing to self-custody their ETH or put it into DeFi protocols to earn yield.
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ApeCoin (APE) is a governance and utility token that empowers the APE Ecosystem created by the same people behind Yuga Labs and the Bored Ape Yacht Club’s massive avatar NFT project. This week Coinbase announced that it would be making a film featuring ApeCoin. In response, the token surged over 10%.
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Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.
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