This week, the overall cryptocurrency market volume reached $593 billion, marking an increase of $167 billion compared to last week. The week has been turbulent, which was seen by a sharp decline in Bitcoin and altcoins.
The decline was triggered by a combination of banks and countries offloading their Bitcoin through OTC and exchange market sells. Germany and the United States sold large amounts, which contributed to the drop. Additional pressure on Bitcoin's price came from rumors about payments related to MTGOX, along with wallet movements toward a new wallet being prepared for payouts.
On a brighter note is the news regarding FTX. The exchange, which caused the bear market low due to its shutdown, has fully recovered funds in USD from bankruptcy day. This recovery ensures that people will receive their lost funds, amounting to approximately $14 billion.
Amidst these red days, the top gainers of the week are $NOT (20%), $OM (19%), and $EGLD (11%).
Good Sweeps on @LT3NFT today 🔥
Very thin to .03 👀
Bet on Small Projects that build 🤝
@SHGFees shows up everyday and is coming up with new products launching in the future.
They went viral several time son social media and have been building for over a year before releasing their NFT.
I'm seeing diamond hand communities accumalate, accumalate and accumalate.