SOLANA AND RIPPLE LEADING THE TOP TEN WITH A OVERALL ROSE IN FURTHER CRYPTO MARKET
It was another bullish session of the crypto market on Friday. Bitcoin (BTC) and the broader market have followed the NASDAQ 100 to deliver the second consecutive daily rise.
Prices for slippery goods have eased the pressure on dangerous goods during the week, while WTI pollution dropped from $ 110 levels. The Bloomberg Commodity Index (BCI) ended the week with a loss of 4.28%, indicating a sharp decline in commodity prices.
The weekly chart below shows the opposite relationship between WTI and NASDAQ 100 and bitcoin.
Continued decline in commodity prices may affect the Fed interest rate trend and support risky assets.
The total amount of Crypto Market money is close to $ 1,000bn
Following the $ 48 billion rise on Thursday, the crypto market volume is set to rise to $ 27 billion on Friday. Friday's bearish session saw the market reach a peak of $ 946 billion a day before the return.
Complete Daily Market Chart 250622
While the storms are still raging, investors are setting aside a feeling of inflation, monetary policy, and the economic situation.
The evidence of Fed Chair Powell and the Fed's commitment to bringing inflation into control at any cost will continue to be felt. Decreasing crude oil prices could reduce pressure.
The two bullish sessions left the total market price in a good area of the week while falling by more than $ 350 billion in June. Currently sitting at $ 937 billion, investors will want to see the total market value move towards the $ 1.5 trillion mark to change mood.
Friday’s bullish sentiment was reflected in the top ten crypto markets.
SOL and XRP lead the way, with gains of 9.8% and 10.1%, respectively, ETH increased by 7.1%.
ADA (+ 5.2%), BNB (+5.2), and DOGE (+ 6.3%) were not far off, while BTC followed (+ 1.2%).
From CoinMarketCap top 100, Axie Infinity (AXS) was leading, up 15.8% at the time of publication. Axie Infinity News, which begins to bring back victims of the Ronin Bridge robbery, from next week, has brought support.
With the exception of the top 100, but most likely recurring, yarn.finance (YFI), which was up 46%.
Improving crypto market conditions have supported DeFi tokens this week. On Friday, Avalanche (AVAX) and Near Protocol (NEAR) targeted 13% and 12% gains, respectively.
Although DeFi tokens receive support, the total lock value remains in March until April 2021. At the time of writing, the total lock value stands at $ 76.7bn. While up 5.2% on Friday, TVL sits below its December high of $ 254 billion.
As the dust continues to fall from the collapse of TerraUSD (UST) and Terra LUNA, DeFi tokens can earn investor interest.
Total Crypto Liquidations Inched Up, Highlights Low Risks
The trend of the recent decline in the complete elimination of crypto ceased.
As of Saturday morning, sales have reached $ 192 million, starting Friday morning with $ 126 million.
However, the one-hour closure remained relatively low.
According to Coinglass, the one-hour expenditure is worth $ 7 million.
Daily News Highlights
Solana (SOL) has announced the launch of the Q12023 Web3 Android phone “Saga”.
Bentley Motors replaced NFT with a planned September drop in Polygon.
SEC Chairman Gary Gensler is back in the news, discussing plans with the CFTC to regulate the crypto market.
The developer of Axie Infinity has announced plans to start compensating victims of the Ronin bridge robbery from next week.