It’s another rollercoaster week for Bitcoin and the broader cryptocurrency market.
First, the price of the largest digital coin by market capitalization seemed unstoppable early in the week when it was trading comfortably above $70,000. Then on Wednesday bitcoin price CoinGecko reported another all-time high of $73,737.
But things have slowed since February, with higher-than-expected inflation figures falling. A sell-off in stocks and Bitcoin continued, and the situation worsened when giant cryptocurrency fund manager Grayscale moved its assets to Coinbase, sending the price down further.
The coin is currently trading at $68,100 per coin, which is close to where it started this week.
Meme tokens, especially those running on Solana like Bonk, have surged throughout the week, making big gains. They have now crashed again.
Dogecoin rose significantly after billionaire tech entrepreneur Elon Musk hinted that his car company should start accepting cryptocurrencies from people looking to buy vehicles.
The 10th largest cryptocurrency is currently priced at $0.15 after falling nearly 15% over the past seven days to a high of $0.187.
The very popular Dogwifhat, which runs on Solana, has also performed well. It is up 18% in 7 days and the price is $2.50, slightly down from the week’s high of $3.44.
Among the major cryptocurrencies, Solana is the winner. The fifth-largest digital asset has surged more than 29% and is currently priced at $188. The market capitalization also exceeded $83.7 billion this week, hitting an all-time high.
Solana’s price is still well below its all-time high of $259.96 in November 2021.
Edited by Ryan Ozawa.