This week has been quite a good one for the markets as majority of tokens posted gains over the last seven days. This can be attributed to Institutiional indulgence into the ETF’s boats as noted by Ali, an event that has since seen altcoins rally over the week.
Bitcoin Price Review
Bitcoin (BTC) saw impressive gains over the seven days amid the massive inflows. As of press time, the Bitcoin price stood at $51.9K, representing a pump of 7.8% in the last seven days. The market cap stood at $1 trillion.
Net inflows into ETFs exceeded $2.2 billion over the week with BlackRock as the largest beneficiary, according to Bloomberg analyst Eric Balchunas, having accumulated positive flows of $1.6 billion in the last week. This event has significantly contributed to the recent [ccpw id=60415] pump.
Ethereum Price Review
Ethereum (ETH) also saw impressive gains over the seven days as it also capitalizes on Ethereum ETF approvals hype. As of press time, the Ethereum price stood at $2810, representing a pump of 11% in the last seven days. The market cap stood at $337 million.
Ether’s supply on exchanges is declining as a result of staking, ETH whale accumulation, and increased optimism from institutional and retail investors are all factors contributing to the recent surge on the [ccpw id=60480].
Bitgert Price Review
Bitgert (BGB) is this week’s top gainer. As of press time, the Bitgert price stood at $1.04, representing a pump of 55% in the last seven days. The market cap stood at $1.4 billion.
The main driver of this week’s Bitgert price pump is the $50,000 Prize Pool of the Bitgert Valentines Celebration Giveaway. In addition to generating a lot of excitement, this event caught the interest of Shiba Inus looking for fresh prospects.
Siacoin Price Review
Siacoin (SC) is this week’s second top gainer as per stats provided by Coinmarketcap. As of press time, the Siacoin price stood at $0.01454, representing a pump of 51% in the last seven days. The market cap stood at $769 million as of press time.
The notable surge in Siacoin’s worth may be ascribed to the burgeoning attention of investors, the optimistic outlook in the market, and possibly noteworthy advancements in the Siacoin ecosystem. The coin’s apparent value proposition and comparatively cheap price point may have drawn in new investors looking for large potential returns.
VeChain Price Review
VeChain (VET) has seen a significant increase of 47%, going from $0.02962 to $0.04443 as of press time. The market capitalization is $3.2 billion.
The VeChain price pump can be majorly attributed to the business’s announcement earlier in the week that “Account Abstraction” had gone live, enhancing interoperability and opening up programmable smart contract wallets.
However, the VeChain price surge may also be ascribed to several elements, such as encouraging announcements on collaborations, corporate acceptance, and advancements in its blockchain technology.
