Crypto Prices This Week: Market Cap Stays above $1 Trillion, BTC, ETH, DOGE, SHIB, AR

The cryptocurrency market has posted a bullish performance, marking a good beginning this week. The market started to rally above the trillion-dollar mark towards the end of last month as the appeal for riskier assets increased amid the current bearish macroeconomic environment.

On Monday 02:46 am EAT (East African Time), the market capitalization of all cryptocurrencies was $1.08 trillion, down 2.63% in the last 24 hours. The overall volume of the crypto market during the last 24 hours reached $64.26 billion, a 41.82% fall, according to data platform Coingeko.

With the new month remaining bullish for the landscape, here is a look at five cryptocurrencies investors should watch out for this week.

Bitcoin has maintained its good performance and was trading higher at $21,251.06 after losing 0.31% of its value over the past 24 hours. The flagship cryptocurrency hit a seven-week high on Saturday after a better-than-expected U.S. jobs report in October showed that the labour market remains surprisingly strong, even as the Feds pushes to cool down the economy.

The Altcoin market also continues to see similar bullishness. Ethereum’s price was down 3.26% compared to the prior week at $1,576, but the crypto’s performance has remained among the best this week. The token took advantage of the crypto market’s late push in October, surging all the way to $1,655 and trying to move closer to its $1,700 target. In a span of two weeks, ETH managed to rise by 30%, but the impacts of the Federal Reserve’s 75 basis point interest rate hike caught up with it and made it drop all the way down to $1,500 once again.

Meanwhile, Dogecoin was trading at $0.1243, down 3.17% in the last 24 hours but has gained 96.41% in the last 30 days. Elon Musk’s recently completed his $44 billion takeover of Twitter last week triggered the crypto’s bullishness.

Shiba Inu (SHIB) has also been doing well, with a 25% increase in the past two weeks, though showing consolidation in the past 24 hours, indicating a 2% decline. A lot of the growth that the two meme coins posted is because of the attention it got from Elon Musk buying Twitter. The wild thought that Dogecoin and Shiba Inu could be used on Twitter created massive buying pressure.

Arweave (AR) is also among the most profitable since last week and continues to do well currently. Its current uptake is associated with Meta as the tech firm is undertaking a massive Instagram revolution, requiring third-party crypto projects’ involvement in infrastructure solutions.

Image source: Shutterstock


Tagged : / / / / / / / /

Altcoin Watch: Top 3 Tokens for Better Entry- QNT, HT & AR

The digital currency ecosystem is currently experiencing a massive valuation plunge as the cryptocurrency industry is still trying to find a balance after the United States Bureau of Labor Statistics (BLS) released the inflation data in September. 


The Consumer Price Index (CPI) came in at 8.2% for the past month showing the ongoing interest rate hikes, the last of which was 75 basis points, are not yielding good fruits at this time. The resultant reaction plunged the traditional market into chaos, and the resultant ripple effect was experienced in the broader digital currency ecosystem.

The combined crypto market cap was down 0.31% at the time of writing and pegged at $921 billion. With the seemingly bearish trend, here is a brief rundown of altcoins entering the new week with impressive weekly performance.

Quant (QNT)

For the second time in a row, Quant is trending as one of the top performers in the ecosystem with a 22.46% to $192.68 per data from CoinMarketCap. The coin has been on a massive uptrend for the better part of this month, and investors may need to watch well before leaping into acquiring this token moving forward. This is because a mild correction may be underway in the short term.

Huobi Token (HT)

Huobi Token is the native coin of the Huobi Global exchange. The coin has printed as much as 72.16% to $7.07. The Huobi token is flying on a massively bullish trend with the news of the exchange being acquired by About Capital Management, with reports of links to Tron’s founder, Justin Sun.

With the change of ownership, investors believe the exchange may be well-capitalized and positioned to finance its current global growth.

Arweave (AR)

Arweave is a decentralized storage network that seeks to offer a platform for the indefinite data storage. Since its inception, the protocol’s adoption has grown remarkably; thus far, this adoption has been reflected in its token price growth.

The coin is changing hands at $10.06, up 13.50% over the past week.

Image source: Shutterstock


Tagged : / / / /

KYVE raise $2.8M to advance Web 3.0 data storage

Data archiving protocol KYVE has announced a Series B funding raise of $2.875M instigated by institutional capital firms Permanent Ventures and Hypersphere Ventures in which a vast collection of crypto projects and individual angel investors including, but not limited to, Coinbase Ventures, Volt Capital, Justin Kan and Robin Chan, participated.

KYVE has expressed the ambition of becoming the leading project in the Web 3.0 sphere with an inherent focus on data collection and digital calculation.

The newly-established project, currently operating in testnet phase, utilizes blockchain indefinite storage service Arweave to provide a vast number of Web 3.0 use cases, including cross-chain interoperability via bridges, data storage and oracles.

This news follows the project’s debut funding round six months earlier in which a plethora of reputable industry names participated via their foundations: Solana, Avalanche and NEAR, among others.

In early October, KYVE collaborated with Polkadot-based Moonbeam Network to enable the latter’s developers to benefit from KYVE’s data services. The partnership also opened up the possibility of greater scalability measures and high liquidity capacity via Ethereum Virtual Machine contracts.

Related: Arweave secures $5 million in funding round led by Andreessen Horowitz

Fabian Riewe, co-founder of KYVE, spoke highly of the progress the firm has made, as well as their future ambitions:

“The last six months have been an incredible journey for KYVE. We have improved the product, added new integrations, scaled our team with great talents and grown the community tremendously. Our mission is more ambitious than ever: We want to become the default tool for data collection and computation for all Web3 projects.”