Markets have consolidated this week due to the post-pump corrections experienced last week. However, with the interests of the FED making three interest cuts this year filling up the air, markets are anticipated to recover soon.
Bitcoin Price Review
Bitcoin (BTC) saw some corrections this week, which was ahead of the volatile week for the crypto king. Bitcoin, trading at $67K as of press time, had seen a 3.7% drop from its previous seven-day price.
Analysts are comparing the current consolidation to previous cycles. According to Michael Van De Poppe, founder of MN Trading Ventures, the Bitcoin price action is comparable to the 2016-2017 cycle where a peak occurs four weeks before the halving occurs followed by a consolidation and another correction, after which a slow upward grind happens until acceleration 6 months later.
Ondo Price Review
Ondo (ONDO) is this week’s top gainer, having posted some notable gains. The Ondo price stood at $0.7767 as of press time representing a 62.7% pump in the last seven days. Ondo currently holds a market cap of 197 million and ranks 92nd in market cap.
The Ondo price surge can be attributed to an increase in whale activity. The number of whale transactions totaling at least $100K rose from 68 to 91 unique transactions on March 21st indicating rising bull activity on the network.
Source | Santiment
Toncoin Price Review
Toncoin (TON) is this week’s second top gainer, having also posted notable gains. The Toncoin price stood at $4.84 as of press time representing a 34.4% pump in the last seven days. Toncoin currently holds a market cap of 197 million and ranks 92nd in market cap.
The Toncoin price surge can be attributed to Telegram’s gaining steam, and founder and CEO Pavel Durov’s statement that the company is considering an initial public offering (IPO) using TON. That news, revealed Monday, apparently triggered a surge in the Toncoin price due to telegram’s connection to TON.
Stacks Price Review
Stacks (STX) is this week’s third top gainer, as it also made terrific gains over the seven days. The Stacks price stood at $3.65 as of press time representing a 33.8% pump in the last seven days. Stacks currently holds a market cap of 5.2 billion and ranks 25th in market cap.
Stack’s popularity this week can be attributed to its native BTC yield which promises Approximately $200M in BTC yield to users this year, an event that might have stirred some optimism towards the coin.
eCash Price Review
eCash (XEC) wraps up our list today as it emerges as today’s fourth top gainer. The eCash price stood at $0.00006627 as of press time, representing a 25.9% pump in the last seven days. eCash currently holds a market cap of 1.3 billion and ranks 83rd in market cap.
The week’s surge can be attributed to listings this week that might have stirred some enthusiasm for the token. On March 21, the CAX.IO exchange announced the listing of eCash on its exchange stirring the pump.
