The past week was particularly explosive in the crypto markets, the capitalization of which increased by close to $200 billion. Currently standing at $1.7 trillion, the industry shows little signs of slowing down.
Starting with Bitcoin, its price exploded by some 14.3% over the past seven days and it’s currently trading around the $44K mark. The bulls have tried to push it above that level but have so far been unsuccessful. It’s worth noting, however, that the bears also attempted to initiate a correction with little success.
What’s interesting this time around, compared to previous market cycles, is that there’s an entire ecosystem built around Bitcoin. This was made possible earlier in March when the BRC-20 token standard was introduced.
Cryptocurrencies based on it, such as ORDI, also exploded in value alongside Bitcoin. ORDI’s price is up a whopping 140% in the past seven days, making all sorts of headlines along the way.
Meme coins are also having their way, but not the
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