Crypto Week at a Glance: Top gainers and losers

economictimes.indiatimes.com:

Bitcoin, Ethereum, and most cryptocurrencies have continued to gain, strengthening the market. BTC was seen changing hands at US$19,000 on Monday and managed to reclaim the US$22,000 level on Thursday for the first time since mid-June. Bitcoin has been trying to move upwards since June 18th and finally managed to break out from an inverse on July 7th. The bounce back in the price has increased after creating a high low on July 3rd. This bullish trend can often lead to price reversals and can take the price of BTC to US$25,000 in the coming weeks if the consistency is maintained.

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In the wake of the crypto market crash, the prices of hardware used to support the mining of crypto assets are also falling dramatically. For example, a high-end graphic card is now almost 45% cheaper compared to its price a few months ago.

The second-largest cryptocurrency, Ethereum, also hovered from US$1,073 to US$1,246 over the week, expanding its spheres of influence. The changes in the past seven days in the price action of ETH show that it has added nearly 14.32%, which helped it navigate the recent bearish trend to an extent. Shiba Inu also rallied nearly 8% following the announcement of stablecoin and a new reward token on Thursday. However, the release date for the metaverse beta phrase, which will be open to the public, remains undisclosed. Following this announcement, DeFi lender Aave also repealed its plans to launch a U.S dollar-pegged stablecoin called GHO to expand the revenue and make borrowing on the DeFi protocol more competitive. Dogecoin also rose after The Boring Company, a construction and infrastructure company owned by Elon Musk, announced to accept DOGE as a payment currency. With