At the end of this active week, we summarize for you the key events that shaped the movements of the cryptocurrency market and how they affected investors:
1. US Federal Reserve Meeting (FOMC)
The US central bank held its meeting last week and decided to keep the interest rate between 4.25–4.50%, with an emphasis on a expected reduction in July. This decision led to slight volatility in risk assets, as Bitcoin resumed its rise after fears of monetary policy tightening subsided.
2. Bitcoin Performance
Current price (end of the week):
Trading pair: BTC/USDT
The currency saw a slight correction to around 101,500 USDT mid-week before regaining its gains towards levels of 104,000–105,000 USDT, supported by increased whale demand and continued attraction to digital assets as an alternative safe haven.
3. Ethereum's 'Dencun' Update
The Ethereum network launched the 'Dencun' update, which reduced transaction fees by up to 20% and increased processing capacity.
Current price:
Trading pair: ETH/USDT
The update contributed to the rise in the price of ETH from around 2,350 USDT to 2,550 USDT before a slight adjustment, with a resurgence in developer activity and DeFi users.
4. Firedancer Launch on Solana
Solana completed the Firedancer client test, enhancing network stability and increasing TPS transactions. The price of SOL rose by 8% this week, and projects are interested in moving to Subnets to reduce congestion and increase security.
5. Chainlink partnerships and CCIP technologies
Chainlink announced new experiments with major financial institutions (DTCC and SWIFT) on the CCIP protocol to connect networks, resulting in positive movement in the price of LINK and increased whale accumulation.
This was a quick summary of the week's most important updates.
What event do you think will have a greater impact on the market?
Share your opinion and predictions in the comments!
#CryptoWeekly
#MarketRecap
#Binance
#CryptoNewss
#CryptoSummary