The crypto market couldn’t hold on to gains it made last week following eight consecutive weeks of decline. According to CoinMarketCap data, all of the top 10 cryptocurrencies fell in the past week by at least 3% except Cardano (ADA), which is up 6% on the week.
Market leader Bitcoin weathered the storm better than most leading coins and declined just 3% in the last seven days. It trades for $28,733 at the time of writing.
Ethereum wasn’t as lucky. The No. 2 cryptocurrency by market capitalization fell 11% over the week and currently trades for $1,579. That was despite the long-awaited Ethereum "Merge" to proof-of-stake got one step closer to its expected August completion when the merge trial successfully went live on the Ropsten testnet on Wednesday.
Binance Coin (BNB) fell 6.5% on the week, while Dogecoin (DOGE), Cronos (CRO), Litecoin (LTC), and Monero (XMR) all dropped by more than 10%.
News that moved crypto markets this week
So, what's keeping the crypto market on ice?...
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