On the largest crypto exchange Binance, as of April 22, bitcoin fell by 6.5% to $39,319 thousand. The result is not the best, however, experts expect a price increase due to the imminent launch of Bitcoin-ETF in Australia. Simplify’s filing of an application for admission to exchange trading of ETF shares with the US SEC is expected to affect the increase in the price of BTC/USD. ETF shares are linked to securities and bitcoin futures.
At the same time, altcoins, Apecoin (APE), Monero (XMR), EOS (EOS), PancakeSwap (CAKE) and STEPN (GMT) have significant gains at the moment.
ApeCoin (APE) is up almost 19% this week. The upcoming sale of Yuga Labs’ Metaverse land is believed to have contributed to this growth.
Also, Monero (XMR) is up almost 20% in a week, and at the same time, trading volume has increased by 52% in the last 24 hours. Since the beginning of March, XMR has gained about 60%, partly due to ransomware attacks that demand payment in XMR.
EOS (EOS) and PancakeSwap (CAKE) have gained 20% over the past seven sessions. The 20% rise in EOS was partly due to the news of the upcoming collaboration between EOSIO and the merger of UX Network, Wax and Telos.
PancakeSwap (CAKE) gained 19% due to strong annual staking returns and is strengthening its position.
The STEPN (GMT) app with the Move to earn (M2E) concept, which promotes a healthy lifestyle, is becoming a fashion trend. The GMT value is up over 38% this week, while at the same time posting a record rise of around 400% in a month. Recently, the number of STEPN users has risen to 300,000, which is partly responsible for the high growth rate.
At the same time, Ethereum (ETH), this week, cannot overcome the $3,200 mark. Also practically marking time for the last 7 sessions such well-known tokens as Avalanche (AVAX), Solana (SOL), Cardano (ADA).
The current situation of altcoins once again convinces us that the cryptocurrency markets remain extremely volatile, which makes it difficult to predict the price of a coin both in the near term and in the long term. Therefore, the forecasts of analysts and algorithmic programs can differ dramatically in their assumptions.
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