It’s been a quiet week in the cryptosphere. But “quiet” in crypto is still not for the faint of heart.
Bitcoin was trading above $60,000 again on Monday, but things got worse and it inexplicably crashed to $57,787 on Thursday. It fell to $59,131 per coin over the weekend, down 2% over the past seven days and down more than 8% from the same time last month.
It still has a long way to go before reaching its all-time high of $73,747 in March. In other Bitcoin news, miners continued to struggle as mining difficulty on the major blockchains increased, and the US government continued to move coins seized from Silk Road.
In the Ethereum world, the price of ETH has barely moved in the past week and is currently trading at $2,595. The flat line is good news for holders, as it has fallen 23% over the past 30 days.
Donald Trump’s cryptocurrency holdings appear to have surged after the U.S. presidential candidate revealed he holds more than $1 million in the second-largest coin, according to financial disclosures obtained by the watchdog Citizens for Ethics. Meanwhile, crypto arcade BSMNT (aka “Basement”) debuted on Coinbase’s Layer 2 network Base on Thursday.
When Eric and Donald Trump Jr. proposed more cryptocurrency projects to the Trump family, the Trump family proposed more cryptocurrency projects. New York Post In an exclusive interview, they said they were preparing to give up “digital real estate,” but it wasn’t clear exactly what that meant.
Solana ended the week at $139, down 9% over the past seven days. Most other coins and tokens also fell during the period, with meme coins, the most volatile of all assets, taking the biggest hit.
But overall, the crypto world continues to move forward with full force. Wall Street giant Franklin Templeton has filed for another exchange-traded fund (ETF), this one including both Bitcoin and Ethereum. And in a sign of things to come, Crypto.com has announced that it will sponsor the UEFA Champions League, strengthening its brand in the European sports world.
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