Nexo now supports the Optimism (OP) token Cryptocurrency lending platform Nexo now supports Optimism’s OP token on a wide selection of its services. Nexo users can now purchase OP tokens with their debit or credit cards with 0% fees for a limited time, or trade OP across 6 different trading pairs. OP swaps on Nexo…
The cryptocurrency markets finally showed some much-anticipated hints of recovery during week 25, as the total crypto market capitalization climbed from $940 billion to $990 billion. While $50 billion is a rather small weekly gain, it is the first market cap weekly increase in more than 7 weeks. In addition, the total market cap almost touched $1 trillion last week. We sincerely hope that the crypto market will confidently surpass $1 trillion this week. Whether this will materialize or not, we advise you to read out Top 3 Coins to Watch articles to get some ideas about which coins to follow in the upcoming week.
Last week the total cryptocurrency market capitalization plunged below $1 trillion for the first time after January 2021 as bearish sentiment affected the trading of almost every major cryptocurrency. Towards the end of the week the cryptocurrency market bled out a few more billions, reaching a total market capitalization of merely $840 billion before slowly recovering back to $940 billion at the end of Week 24. While Bitcoin and Ethereum usually outperform the market average in such conditions, both biggest cryptocurrencies were hit hard by the most recent bear market. Both BTC and ETH dipped below their psychological support levels of $20,000 and $1,000 respectively for a short time and they both incurred weekly losses of almost 30%.
As there were no bigger moves on the cryptocurrency market last week, the sector is entering Week 23 with an almost unchanged total market capitalization of $1.28 trillion. Among the biggest gainers out of crypto Top 100 in the last 7 days are WAVES (+92%), HNT (+28%) and ADA (+20%). In total, 60 out of top 100 cryptocurrencies ended the week in the green, while the remaining 40 posted red numbers. The ratio is surely indicating a slightly recovering market, but the relative changes in valuation have been too little to significantly increase the total market capitalization. Do you think we could see more green numbers or higher gains at the end of this week and potentially enter a period of recovery?
Yesterday, we wrote about a recent exploit that saw an anonymous attacker gain access to a blockchain address with 20 million OP tokens (worth $35 million at the time of the hack). Today, 17 million of those tokens were returned to the Optimism contract address.
Ahead of the OP token launch, Ethereum Layer 2 scaling solution tried sending 20 million OP tokens to a leading crypto market maker Wintermute as a loan. Unfortunately, there was a problem with the transactions as the funds were sent to an unsynced Ethereum address, which means that the wallet’s balance couldn’t be confirmed by network validators.
As there were no bigger moves on the cryptocurrency market last week, the sector is entering Week 23 with an almost unchanged total market capitalization of $1.28 trillion. Among the biggest gainers out of crypto Top 100 in the last 7 days are WAVES (+92%), HNT (+28%) and ADA (+20%). In total, 60 out of top 100 cryptocurrencies ended the week in the green, while the remaining 40 posted red numbers. The ratio is surely indicating a slightly recovering market, but the relative changes in valuation have been too little to significantly increase the total market capitalization. Do you think we could see more green numbers or higher gains at the end of this week and potentially enter a period of recovery?