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The Crypto Market review after bitcoin fell to 28$ thousand

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Crypto Market review

The Crypto Market review after bitcoin fell to 28$ thousand

The crypto market review after, the decline in the main cryptocurrency on June 22. After that, digital coins returned to growth.

On June 22, the quotes of the cryptocurrency market collapsed as a result of the fall in the bitcoin rate to $ 28.8 thousand. The price of the main cryptocurrency did not fall below $ 30 thousand since January of this year. This led to the fact that Ethereum fell to $ 1.73 thousand. After the collapse, quotations began to recover.

Bitcoin

Bitcoin is up 26% over the week. As of today, June 30, 2021, the main cryptocurrency has reached $ 36.3 thousand, and its capitalization has increased to $ 681 billion, according to CoinGecko. The coin managed to achieve this growth thanks to several positive news.

On June 29, it became known that the world’s largest inter-dealer broker TP ICAP will launch a cryptocurrency trading platform, together with the divisions of Fidelity Investment and Standard Chartered. The launch of the site is scheduled for the second half of this year. Initially, only Bitcoin will be presented on it, later it is planned to add Ethereum.

Ark Invest, founded by Katie Wood, has submitted an application to the US Securities and Exchange Commission (SEC) to create a Bitcoin ETF. The investment goal of an exchange-traded fund (ETF) is to track the bitcoin market.

Ethereum

Over the past seven days, Ethereum quotes have risen by 28%. On June 29, the altcoin is trading at $ 2.22 thousand, and its capitalization is $ 258 billion. On June 24, the London update was added to the Ethereum test network – Ropsten.

The update is scheduled to be rolled out to the Goerli testnet today. On July 7, the hard fork will be released on the third testnet – Rinkeby, after which the update will take place on the main Ethereum blockchain.

The London hard fork is an upgrade of Ethereum as part of the network’s transition to protocol 2.0. The solution will scale the original blockchain and make it more user-friendly. The main feature of Ethereum 2.0 is the network’s transition to the Proof-of-Stake (PoS) consensus – it will replace the Proof-of-Work (PoW) consensus that blockchain is currently running on.

Cardano

On June 22, Cardano dropped to $ 1. Since then, the digital coin, one of the five largest cryptocurrencies in terms of capitalization, has risen in price by 40%. Cardano’s capitalization has exceeded $ 45 billion. The cryptocurrency is currently trading at a price of $ 1.3.

Cardano is a blockchain platform created by Input Output Hong Kong (IOHK) and Charles Hoskinson, former co-founder of BitShares, Ethereum, and Ethereum Classic. 

Dogecoin

A week ago, Dogecoin fell to $ 0.16 for the first time since mid-April. In seven days, the digital coin is up over 62%. On June 29, Dogecoin is trading at $ 0.26, and the altcoin capitalization is almost $ 35 billion.

On June 28, Tesla and SpaceX CEO Elon Musk supported the proposal to update the Dogecoin network. It states that the average transaction fee on the altcoin blockchain should be reduced by 100 times.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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