@BOMBERuss 24 July 2022 more from that month

What happened in the cryptocurrency market during the week of July 18-24. The outgoing week turned out to be successful for #bitcoin (BTC) again. Throughout its entire course, the coin not only confidently held above the psychological barrier of $20,000, but also tried to develop growth, reaching peak highs above the $24,000 mark. BeInCrypto technical analysts add that by the end of the week, the currency made a bullish breakdown of the short- and long-term resistance lines, and also broke out of the short-term ascending parallel channel. However, at the moment, bitcoin has not yet managed to recover above the significant 200-week moving average (MA), which is an important determining factor for the future fate of the bullish trend. At the time of writing, on Sunday afternoon, the #BTC was trading, according to the analytical resource #CoinMarketCap, around $22,704, with an intra-weekly increase of 6.5%. As industry analysts write, although the realized value of BTC is recovering, the bears are still not giving up. Heavyweight miners also continue to aggressively get rid of bitcoins to compensate for the growing transaction costs. In addition, analysts at Grayscale Investments have noticed an increase in the duration of each bearish bitcoin cycle. #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. At the time of writing, #ETH was trading with an intra-weekly increase of 18.25% around $1,606, according to data from Coinmarketcap. Recall that the ETH rate has been growing since June 18, and in mid-July, its growth rate intensified after it became known that the Ethereum blockchain could move to a new Proof-of-Stake algorithm as early as September 19. On July 18, the market broke through the downward resistance line, and further growth will bring into play the $1,925 mark (Fibo 0.382 correction, as well as the horizontal resistance area). Meanwhile, Vitalik #Buterin promised that the bandwidth of the Ethereum network will reach 100,000 TPS. What else happened this week: In general, following the results of the outgoing week, the coins included in the top 10 largest cryptocurrencies by market capitalization unanimously demonstrated 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. As in the previous week, the aforementioned Ethereum again broke out into the leaders of growth among the top ten cryptocurrencies. However, some market participants fear that this ETH pump may just be a trap for bulls. From other news of the week on the cryptocurrency market: The largest creditor of the #Celsius Network turned out to be a firm associated with the head of #FTX. The ex-top manager of Celsius accused the company's management of fraud to manipulate CEL quotes. Meanwhile, Celsius hopes to solve its financial problems with the help of bitcoin mining. Read also: Will Celsius users be able to get their money back – expert opinion Hedge fund Three Arrows Capital owes its creditors, including #BlockFi and Celsius Network, about $2.8 billion. #Coinbase decision to suspend its affiliate program has led to rumors that the exchange may face a liquidity crisis. Meanwhile, the exchange itself has denied rumors of a possible bankruptcy. Meanwhile, the cryptocurrency influencer Cobie said that some "influential people" in the market asked him to stop writing about the problems around Coinbase. #Gemini #cryptocurrency exchange made additional cuts seven weeks after the previous round of layoffs. In Blockchain.com 25% of employees were also fired. The bitcoin #exchange Zipmex has stopped the withdrawal of cryptocurrencies, and the credit cryptocurrency company Vauld has applied to freeze client assets in order to focus on business restructuring. One of the largest bitcoin investors, Tesla, has sold 75% of its BTC. Read also: What Selling 75% of Tesla Bitcoins Means for the Market: Opinions #Uniswap equaled Coinbase in terms of trading volumes, and #Binance overtook Coinbase in terms of the number of bitcoins stored on it. The founder of Curve confirmed that the #Curve Finance platform is working on launching its own super-secured stablecoin. The capitalization of the #cryptocurrency market has again exceeded $ 1 trillion. Top Crypto Gainers: