On May 30, the total crypto market capitalization gained 4% and currently is within reach of a $1.3 trillion market capitalization. The move was enough to erase the losses from the previous seven days and was driven mainly by Bitcoin's (BTC) 4.9% gain during that time frame.
Apart from Bitcoin, Cardano (ADA) was the only large-cap cryptocurrency that managed to close the week with a positive 4.5% performance. Meanwhile, Ether (ETH), BNB, Ripple (XRP) and Solana (SOL) failed to present weekly gains.
Bitcoin’s turn-around happened after the United States stock market presented gains for the first time after seven consecutive negative weeks. The longest losing streak in over a decade for the S&P 500 was followed by a 6.6% positive performance at the closing bell on May 22.
According to Yahoo! Finance, “a favorable batch of quarterly results from major retailers helped at least temporarily mitigate concerns over the toll [that ...] inflationary headwinds could take on profit...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...