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After a relatively uneventful Week 31 the total cryptocurrency market capitalizations sits at around the same valuation of $1.15 trillion as 7 days before. However, we are likely going to see more market shake-ups as the Ethereum mainnet merge approaches. As we have already mentioned that Ethereum should be on everyone’s watchlist for (at least) the whole month in our recent Top 3 Coins to Watch article, we have selected 3 other coins/projects that could rally in the week that’s ahead of us because of the upgrades, announcements and other project developments.

We have reported about several important developments concerning the U.S. and global economy last week. In brief, the Federal Reserve (Fed) has announced a second consecutive 0.75%. interest rate increase on Wednesday. By hiking up the interest rated, the Fed aims to battle the raising consumer goods prices and crippling inflation. With higher interest rates money becomes more expensive to borrow, resulting in a lower consumption – people and companies are spending less and saving more. In theory, this slowdown of the economy should result in the return to baseline prices for goods. In addition, we have written about the Bureau of Economic Analysis reporting a decline in the U.S. GDP for the second quarter in a row. Nevertheless, despite the slowing economy both stock and crypto markets posted gains last week – Bitcoin gained 5% in the last 7 days while ETH is up by more than 7%. The total cryptocurrency market capitalization climbed from $1.08 trillion to $1.15 trillion last week.

The total cryptocurrency market capitalization seems to be slowly climbing towards the $1 trillion level again. Throughout last week it increased from slightly less than $910 billion to $972 billion and thereby almost completely negated the losses of the week before that. Nevertheless, with no clear trend reversal in sight, this might not be enough to scare off the bears that have been raging through the markets the last couple of months. Bear market or not, you can almost never do wrong if you read our weekly Coins to Watch articles.