The cryptocurrency market has seen some interesting developments this week. Let’s delve into the latest updates and trends.
US Market Weekly Update
The US Standard and Poor’s 500 index experienced a slight drop of 0.88% last week. Globally, markets showed mixed performance. Europe grew by 0.67%, Japan by 1.91%, India by 0.85%, and Australia by 0.16%. On the other hand, China fell by 5.48% and South Africa by 0.34%.
In the US, several key index releases were observed. The US States Pending Home Sales YoY increased from 5.4% to 6.9% in November. In December, the US Chicago PMI decreased from 40.2 points to 36.9 points. The US Dallas Fed Manufacturing Index grew from -2.7 points to 3.4 points. The US S&P/Case Shiller Home Price YoY index dropped from 4.6% to 4.2%, slightly exceeding expectations.
The US dollar showed strength against major currencies like the Euro, Yuan, and Rupee. The Euro rose by 1.08%, the Chinese Yuan by 0.3%, and the Indian Rupee by 0.43%. However, the Japanese Yen declined by 0.31%.
Looking ahead, the US market outlook for 2025 appears positive. Economic growth is expected to be driven by strong consumer spending, rising real incomes, and stable household finances. Supportive government policies are also anticipated to contribute to sustained economic progress.
Crypto Market Scenario This Week
The total market cap of the cryptocurrency sector increased from 3.19T to 3.41T, reflecting a growth of 6.89%. The altcoin market cap also saw a significant jump from 1.34T to 1.47T, marking a surge of approximately 9.7%. Additionally, the total crypto market cap excluding the top ten cryptos index reported a rise of 11.59%.
Bitcoin Market Overview
Bitcoin recorded a growth of 5.87% in the last week, with prices ranging from $92,802.93 to a weekly peak of $98,980.05. As of now, the BTC price stands at $98,023.99, approximately 0.96% below the weekly peak.
Ethereum Market Scenario Analysis
Ethereum experienced a surge of nearly 7.05% this week. Prices fluctuated from $3,361.95 to a weekly peak of $3,630.09. Currently, the ETH price is at $3,591.11, around 1.07% below the weekly peak.
Top Ten Cryptos: Weekly Performance Review
Most of the top ten cryptocurrencies displayed growth in the last seven days. Notably, XRP (14.5%), BNB (3.4%), Solana (17.6%), Dogecoin (24.5%), and Cardano (25%) all showed positive performance.
Trending This Week
PolitiFi, The Boy’s Club, Frog-Themed, Elon Musk-Inspired, and AI Agents are the top trending categories. Among cryptocurrencies, Bio Protocol, ai16z, Sui, Virtuals Protocol, and Hyperliquid are trending, with ai16z showing the highest seven-day rise of 75.8%.
Crypto Category Overview
In the past week, the market cap of various crypto categories saw growth, with meme coins (21.7%), DeFi (6.96%), and blockchain services (11.4%) performing well. However, CeFi experienced a decline of around 5.82%.
Stay tuned for Coinpedia’s Crypto Market Weekly Report for all the latest updates in the crypto market!