Crypto Weekly (19/02 – 25/02): DeFi is Back

Summary of last week crypto market

Throughout last week, Bitcoin remained in a sideways trend, fluctuating within the range of 50500 to 52500. This indicates that Bitcoin has not faced any significant reactions in the absence of major news or events affecting its price trajectory.

Following a slowdown in the upward momentum of major cap coins, attention has shifted towards the DeFi sector with a series of significant updates. These include Uniswap proposal to share fees with UNI stakers, Optimism fourth airdrop, and the continuous development of new solutions like EigenLayer retstaking and Ethena novel USDe stablecoin model.

BTC/USD Price Chart as of 1:57 AM on 26/2/2024

Top 10 coins in the top 100 that experienced the highest increase in the past week: AGIX, UNI, WLD, FLR, AR, FET, FIL, THETA, RNDR, GRT.

Source: Coinmarketcap

Top 10 coins in the top 100 that experienced the highest decrease in the past week: STRK, SEI, DYM, HNT, SATS, PYTH, TIA, MINA, INJ, SUI. 

Source: Coinmarketcap

Important News

• Coinbase Commerce Removes Bitcoin Payments
• $90 Billion USD Flows into Cryptocurrency

Key Highlights for This Week

This week, there will be some important news as follows:

• On Wednesday (28/02/2024) at 8:30 PM, there will be the release of the US Gross Domestic Product (GDP) figures. If the figures are higher than expected, it will be positive news for the USD, and vice versa.
• On Thursday (29/02/2024) at 8:30 PM, the Initial Jobless Claims data will be released. As usual, if the figures are higher than expected, it will be negative news for the USD, and vice versa.

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