Bitcoin is trading above $ 50,000 and the value of Altcoins skyrockets

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Summary of this week

  • cryptocurrency market closes the week with a total market capitalization of $ 2.295 trillion.
  • Bitcoin is up over 3% as it is trading above $ 50,000 again.
  • Ethereum closes at the $ 4,000 level up 23% for the week.
  • XRP is up about 12% since last Sunday
  • Solana, Dogecoin and Polkadot ended the week with significant increases in value.
  • DeFi industry has lost more than $ 16 billion from Total Value Protocols (TVL).

Crypto Trends August 30 – September 5, 2021: Market Analysis and Performance

Let’s start this crypto market analysis with some of the best news we’ve had in weeks. First the market capitalization increased by more than $ 200 billion. It is now well above the $ 2 trillion mark and there are no signs of a decline any time soon.

Second, Bitcoin finally managed to break the $ 50,000 level. Also, it continues to trade above it after a steady rise throughout the week. refore, things are looking up for the major cryptocurrency after a disappointing summer. Above all, some industry experts expect BTC will exceed $ 100,000 before the end of the year. Bitcoin is trading at around $ 50,203 right now.

Ethereum is also strengthening after a spectacular increase in value during the week. second leading cryptocurrency is very close to establishing a position above $ 4,000. Ethereum is now trading at around $ 3,930.

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Ripple’s XRP surprisingly, is also on the rise. After a nearly 12% increase for the week, it is now on track to recoup previous losses. XRP is trading at around $ 1.13.

At the time of writing, gimbal traded in red. However, this downward trajectory is new as the currency has been rising for the week. For example, it even broke the psychological level at $ 3 and set a new ATH at $ 3.10. It could be just a brief collapse in form for ADA, it is now trading at around $ 2.87.

Somewhere else, Un pois increased by almost 30%, Solana increased by 48%, and Binance Coin increased by more than 1%. once-a-joke token, Dogecoin, is also up 8%. Finally, Polygon grows 18% after the news of its imminent merger with Coinbase.

DeFi Sector earned around $ 16 billion in Total Value Protocols (TVL), which now stands at nearly $ 98.64 billion.

Cryptocurrency Market Analysis: What’s in the News?

Market forecast next week

It’s a good start to September for the cryptocurrency industry. Bitcoin has once again surpassed $ 50,000 and Ethereum is not stopping in its quest to establish a new ATH. Furthermore, altcoins now represent a viable investment opportunity with spectacular increases in value. We hope that the next weekly analysis of the cryptocurrency market finds us in a good mood.

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