@BOMBERuss 17 July 2022 more from that month

What happened on the #cryptocurrency market during the week of July 11-17. Bitcoin (BTC): The outgoing week again turned out to be conditionally successful for #bitcoin (BTC). According to its results, the coin managed to stay above the psychological barrier of $ 20,000, and also nominally remain in the green zone for now. At the time of writing, on Sunday afternoon, the #BTC was trading, according to the analytical resource #CoinMarketCap, around $21,348, with an intra-weekly increase of almost 0.2%. However, it is likely that the closing of the week will still be bearish for coin. According to Glassnode analysts, BTC cannot develop growth yet, as the capitulation continues and there are still not enough buyers in the market. In addition, BeInCrypto analysts add that the bitcoin sentiment may remain bearish as long as the dollar index continues its ascent along the parabola. Meanwhile, Wall Street investors have announced the most likely BTC rate for the near future. Ethereum (ETH) Meanwhile, the exchange rate of the native coin of the #Ethereum blockchain (ETH) this week also continued the growth of the previous week, however, unlike BTC, it managed to strengthen much more significantly. This week, the coin opened above the $1100 mark, but at first it did not show a bullish mood. Moreover, in the middle of the week, he even slid to the psychological barrier of $1000. However, then the price turned around, and on Friday it intensified the growth rate after it became known that the Ethereum blockchain could move to a new Proof-of-Stake algorithm as early as September 19. This was reported by one of the developers of the project. Against this background, the #ETH rate jumped by more than 12% to $ 1300, and the market capitalization of ETH increased to $ 148.4 billion. At the time of writing, ETH was trading with an intra-weekly increase of 14.4% around $1,359, according to data from Coinmarketcap. Meanwhile, some #DeFi analysts claim that the long-awaited Ethereum update will not lead to a reduction in transaction fees on the network. At the same time, this week the ECB hinted at a great potential for ETH price growth due to the environmental friendliness of the Ethereum #blockchain. What else happened this week: In general, according to the results of the outgoing week, the coins included in the top 10 largest cryptocurrencies by market #capitalization showed mostly positive dynamics. The exceptions have traditionally been the USD Coin (#USDC), Tether (#USDT) and Binance USD (#BUSD) stablecoins, which at the time of writing were again fluctuating around the zero mark. The aforementioned Ethereum has emerged as the growth leader among the top ten cryptocurrencies. Meanwhile, the main loser of the week among the top 10 currencies was #Dogecoin (#Doge), which sank by 5.7% in 7 days to the area of $0.0643 (at the time of writing). From other news of the week on the #cryptocurrency market: 1. About 50 different crypto projects developed on the basis of the collapsed #Terra network have switched to the #Polygon protocol. 2.The media suggested that the management of the hedge fund Three Arrows Capital (3AC) is on the run. Shortly after, one of the founders of 3AC broke his silence and criticized the liquidators of the fund. Meanwhile, the bankruptcy court froze the assets of Three Arrows Capital. 3. The financial regulator of the state of Vermont, USA, stated that it considers the #Celsius Network "extremely insolvent", and after that, the cryptolanding platform filed for bankruptcy in accordance with Chapter 11 of the US Code. As it became known, the deficit on the Celsius Network corporate account exceeded $1.19 billion. 4. The co-founder of #BlockFi asked not to compare the company with the bankrupt broker Voyager Digital or with Celsius, despite financial difficulties. Meanwhile, the Vault cryptocurrency platform itself admitted to a $70 million hole in the company's corporate balance sheet. 5.The Coinbase crypto exchange has lost its membership in the top 10 cryptocurrency exchanges in terms of trading volumes, dropping to the fourteenth place. 6. The #OpenSea platform plans to reduce staff by 20% in the conditions of crypto-winter. Top Crypto Gainers in a week: