Bitcoin and all other major coins and tokens have been on the rise for seven days after what seemed like a boring week.
BTC was flat on Monday but surged on Thursday. According to CoinGecko, the price of Bitcoin is now over $47,000 per coin. It is an 11% increase in one week.
Experts told Decrypt that the surge has been driven by large investors holding large amounts of cryptocurrencies this year and technology-focused investors eyeing the digital asset market.
The price of the largest digital coin has fallen since the approval of 10 Bitcoin exchange-traded funds (ETFs) on January 10. This was reduced by the sale of Grayscale, but now appears to have eased. As a result, money flows back into the asset.
The price of Ethereum (ETH) also rose significantly over the past 7 days. The current price is $2,498, up almost 9%.
Developers have finally set March 13 as the date for the coin’s network upgrade, dubbed “Dencun.” We hope that this upgrade will be the next step in upgrading the blockchain to handle significantly more transactions.
Other big news included Solana (SOL), the fifth largest cryptocurrency by market capitalization. SOL prices fell on Tuesday following the first network outage in a year. Once the problem was resolved, prices soared again.
The price is currently trading at $109, up 11% over the week.
And privacy coin Monero (XMR) took a huge hit after cryptocurrency exchange Binance announced Tuesday that it would delist the coin. It surged the next day, but is struggling after falling nearly 28% over the week.
This makes it one of the worst performers of the week. The current price is $119.