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Weekly Crypto Market Recap #2

By Rain İçerik Ekibi - Apr 07, 7:00 PM

Last week was a mixed bag for crypto markets, as Bitcoin closed relatively flat, while some altcoins performed great. Regardless of price changes, there were quite a few important events and updates that could shape markets long-term—we’ll mention all in today’s recap.

General Crypto Market Performance

The crypto market experienced a natural, mild correction last week, as most major assets failed to produce significant gains. However, some altcoins stood out and performed great, such as Shiba Inu (SHIB), or ApeCoin (APE) with around 4% in the green, and Kyber Network (KNC) with a staggering 22% gain over the last seven days. Corrections like this are healthy and expected as part and parcel of any market. many experts consider them as the best buying opportunity for investors.

Bitcoin whales are buying the dip

Bitcoin whales, holders with a substantial amount of BTC, seemingly intend to make use of the price drop and further increase their holdings in the world’s larges crypto asset. The order books of many exchanges show significant demand for Bitcoin around the $40,000 resistance level, which some experts argue is due to whales’ interest. 

Bitcoin 2022: Peter Thiel & billionaires are pro BTC

One of this year’s most highly anticipated crypto conferences, Bitcoin 2022 took place in Miami last week. The globally renowned gathering of crypto enthusiasts and like-minded changemakers brought numerous exciting events, including billionaire tech investor and businessman Peter Thiel speaking greatly about Bitcoin and its future against fiat currencies, as well as Mexican billionaire Ricardo Salinas revealing that 60% of his liquid assets are in BTC. Comments like these play a vital role in shaping the public’s opinion and sentiment about crypto assets, so hearing successful entrepreneurs and investors talk positively about the topic is really positive.

Ethereum Upgrades: important tests done for PoS system

Ethereum Upgrades are being tested and prepared for launch in the background, with developers relentlessly pushing the limits and features of the renewed system. The most recent feat was probing the flexibility of the network by implementing a shadow fork, which is essentially a sandbox for all developers to put their ideas and solutions to test without influencing the mainnet. This marks yet another milestone in the gigantic project, and brings Ethereum one step closer to fully implementing its newest set of solutions.

Last week was all about creating opportunities for new and existing investors, as well as events that had, and will have, a massive impact on the crypto world. Visit us next week, too, so we can bring and break down the best of the crypto world for you once again!

Rain is a Crypto-Asset Services Provider headquartered in İstanbul. Rain provides services to its users at financial institution standards.

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