Crypto Markets Analysis: Bitcoin, Ether Top Weekly Leaderboard ...

MARKET_WATCH

Crypto

CNE’s decline departs from recent performance, and still remains the top performing sector for the month. The index itself is designed to capture price movements of assets within the virtual world, gaming, metaverse, art and social network universe. Notable assets include AXIE, APE and LPT. 

 

Bitcoin (BTC) and ether (ETH) logged another week of positive gains in what has been a strong start to 2023. Prior to a late-Friday surge, the two largest cryptocurrencies by market capitalization had risen 10.15% and 9.92% respectively, and 25% and 28% year to date.

 

On a relative basis, BTC and ETH’s seven-day performance landed them near the top of the leaderboard for the first time this year. Among the top 20 cryptocurrencies by market cap, BTC’s performance was third among the group. ETH ranked fourth.

The leaders on the week were solana (SOL) and polkadot (DOT), which rose 24% and 10.7%, respectively. The biggest laggards were litecoin (LTC) and monero (XMR), which fell 0.57% and 0.64%, respectively.

The dispersion between best and worst performance has narrowed significantly over the past 30 days. Where on Dec. 16 the poorest-performing assets logged seven-day losses in excess of 15%, this week’s laggard was essentially flat.

 

Crypto markets were trading higher on Friday as well. Markets were seemingly unaffected by the announcement that crypto lender (and CoinDesk sister company) Genesis had filed for Chapter 11 bankruptcy protection.

Trading volumes were moderate for the day, indicating that some investors may simply be pausing as smoke from the bankruptcy announcement clears.

Next week, investors may want to look for BTC returning some of this week's gains.

On a technical basis, BTC has failed to reach the upper range of its Bollinger Bands for three consecutive trading days after doing so in each of the prior 10. The decline in volatility following the prior expansion, could be signs that traders are:

Looking to take profits following the 30% year-to-date move

Looking to protect against price declines related to the Genesis filing

 

 

Week-to-date performance among CMI sectors highlighted sluggish performance within the Computing (CPU), DeFi (DCF), and Culture and Entertainment (CNE) sectors.

The Digitization (DTZ) and Currency (CCY) sectors led the way with positive returns on the week.

 

CNE’s decline departs from recent performance, and still remains the top performing sector for the month. The index itself is designed to capture price movements of assets within the virtual world, gaming, metaverse, art and social network universe. Notable assets include AXIE, APE and LPT.

 

 

Source : [Crypto Markets Analysis: Bitcoin, Ether Top Weekly Leaderboard ...](news.google.com/__i/rss/rd/articles/CBMilgFodHRwczovL3d3dy5jb2luZGVzay5jb20vbWFya2V0cy8yMDIzLzAxLzIwL2NyeXB0by1tYXJrZXRzLWFuYWx5c2lzLWJpdGNvaW4tZXRoZXItdG9wLXdlZWtseS1sZWFkZXJib2FyZC1idXQtc29tZS1pbmRpY2F0b3JzLXN1Z2dlc3QtYS1tYXJrZXQtcmV0cmVhdC_SAQA?oc=5) undefined - 200+CoinDesk / January 21, 2023

rayn.finance logo

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.