Wednesday, September 27, 2023
No Result
View All Result
SUBSCRIBE
eNaira Online News
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
eNaira Online News
No Result
View All Result

Altcoins gain 90% in the last 7 days

by e-Naira Online News
June 26, 2022
in Crypto
Reading Time: 2 mins read
A A
0
Home Crypto
Share on FacebookShare on Twitter


Bullish price action is returning back to the cryptocurrency market alongside the U.S. stock market as the 16.54% rally in Bitcoin, has seen the altcoin market post gains as high as 90% in the last seven days.

Although we saw a bullish price action during the week, the sentiment in the cryptocurrency market still remains bearish because of the dovish U.S. inflation data that sparked an increase in monetary policy rate by the U.S Federal Reserve. The Feds, through its Chairman, announced a 75-basis point interest rate hike (0.75%) in a bid to tame the ever-increasing inflation rate. This is the biggest hike in the U.S. since 1994.

Asides from the U.S., the Swiss National Bank surprised the market by raising its key rate by 50 basis points. Also, during the week, the Bank of England increased its interest rate, hiking for the fifth straight time by 25 basis points. These actions from central bankers still leave a stain of bearish sentiment for the cryptocurrency market as on-chain data from Glassnode still shows minimal participation in the market compared to last year.

The rally in the market also came despite the $100 million hack of the Harmony Network that also brought about fear in investing in the market. This is why many are calling the current bullishness a dead cat bounce, a term used to describe a short-term bullish action which is followed by a deep and intense market sell-off.

Here is a look at the top five gainers of the top 100 cryptocurrencies by market capitalization:

Top 5 gainers

  • Compound (COMP) 91.88%
  • Synthetix (SNX) 89.43%
  • Storj (STORJ) 86.68%
  • Polygon (MATIC) 78.89%
  • STEPN (GMT) 76.50%

There are no losers for the week as the top 100 token all recorded position price actions in the week under consideration.

Related



Source link

Tags: AltcoinsdaysGain
Previous Post

US Equities: Weekly Round up

Next Post

CBDC Ensures Nigeria Remains Competitive in Increasingly Digital World — Central Bank Governor – Emerging Markets Bitcoin News

Related Posts

Why This Bank CEO Wants 99% Of The Crypto Industry Gone
Crypto

Why This Bank CEO Wants 99% Of The Crypto Industry Gone

by e-Naira Online News
September 23, 2023
What The SEC’s Latest Announcement Means For The Crypto Industry
Crypto

What The SEC’s Latest Announcement Means For The Crypto Industry

by e-Naira Online News
September 21, 2023
Nigeria’s volume of crypto transactions grows by 9% to $56bn 
Crypto

Nigeria’s volume of crypto transactions grows by 9% to $56bn 

by e-Naira Online News
September 20, 2023
Grayscale CEO Highlights US Opportunity To Lead Crypto Space Through Regulation
Crypto

Grayscale CEO Highlights US Opportunity To Lead Crypto Space Through Regulation

by e-Naira Online News
September 20, 2023
Lawyer Involved In Cryptoqueen’s OneCoin Scam Receives Shocking Response From Court
Crypto

Lawyer Involved In Cryptoqueen’s OneCoin Scam Receives Shocking Response From Court

by e-Naira Online News
September 19, 2023
Next Post
CBDC Ensures Nigeria Remains Competitive in Increasingly Digital World — Central Bank Governor – Emerging Markets Bitcoin News

CBDC Ensures Nigeria Remains Competitive in Increasingly Digital World — Central Bank Governor – Emerging Markets Bitcoin News

Ruble Hits 7-Year High, Bukele, O’Leary Unfazed by Crypto Downturn, Elon Musk Will Keep Buying DOGE — Bitcoin.com News Week in Review – The Weekly Bitcoin News

Ruble Hits 7-Year High, Bukele, O'Leary Unfazed by Crypto Downturn, Elon Musk Will Keep Buying DOGE — Bitcoin.com News Week in Review – The Weekly Bitcoin News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
French ambassador to Niger leaves after weeks of tension

French ambassador to Niger leaves after weeks of tension

September 27, 2023
Presidential adviser urges Central Bank to reduce BDCs by 95%

Presidential adviser urges Central Bank to reduce BDCs by 95%

September 27, 2023
Stanbic IBTC Bank Celebrates Outstanding Achievements

Stanbic IBTC Bank Celebrates Outstanding Achievements

September 27, 2023
Manufacturing performance indicators contracted by 1.4% in H1 — Business — The Guardian Nigeria News – Nigeria and World News

Manufacturing performance indicators contracted by 1.4% in H1 — Business — The Guardian Nigeria News – Nigeria and World News

September 27, 2023
How rate hikes, weaker naira hurt FMCG firms

How rate hikes, weaker naira hurt FMCG firms

September 27, 2023
NAFDAC, SON must sit up

NAFDAC, SON must sit up

September 27, 2023
When protocol clashes with tradition

When protocol clashes with tradition

September 26, 2023
We’ll provide enabling environment for business to thrive

We’ll provide enabling environment for business to thrive

September 26, 2023

Get the free newsletter

eNaira Online News

Get the latest news and follow the coverage of eNaira, Business & Financial, Stock Market, Analysis, and more from the trusted sources.

CATEGORIES

  • Banking
  • Business
  • Capital Market
  • Companies
  • Crypto
  • eNaira
  • Finance
  • Opinion
  • Personal Finance
  • Real estate
  • Uncategorized
No Result
View All Result

GET THE FREE NEWSLETTER

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.