This week has seen several cryptos face corrections amid last week’s pump that was stirred by Bitcoin ahead of massive inflows in Bitcoin ETFs. However, the recent hike in inflation rates and as well as outflows have seen markets correct this week.
Bitcoin (BTC), saw massive corrections this week ahead of its unprecedented surge over the last few weeks. Bitcoin, trading at $67K as of press time, had seen a 3.7% drop from its previous seven-day price.
*BTC* spot ETFs brought in a total of $198 million on March 15th. For the day, $139 million was withdrawn from the Grayscale ETF GBTC. Net inflows of almost $155 million made Fidelity’s FBTC Bitcoin spot ETF the most actively traded Bitcoin ETF on the day. The current net inflow to FBTC from all transactions is $6.87 billion.
Jupiter (JUP) is this week’s top gainer having notable gains. The Jupiter price stood at $1.35 as of press time representing a 79.3% pump in the last seven days. Jupiter currently holds a market cap of 1.3 billion to rank 66’th by market cap.
Jupiter’s pump this week can be attributed to airdrop jubilations by users, a flurry of activity ensued in the market due to prominent listings on prominent exchanges including Binance, Bithumb, and OKX.
Ox Protocol (ZRX) is this week’s second top gainer as it also posted notable gains. The Ox Protocol price stood at $1.34 as of press time representing a 74% pump in the last seven days. Ox Protocol currently holds a market cap of 1.1 billion.
Recent activity on the token can be attributed to the cause of the surge. Recent data indicates that whales’ large-scale ZRX transactions have hit a 1.5-year high. Only fifteen hours ago, the whale with the address 0x84f sent 4.85 million ZRX, which is worth $2.09 million, making a profit of $1.27 million.
Conflux (CFX) is this week’s third top gainer having also recorded massive gains over the week. The Conflux price stood at $0.438 as of press time representing a 35% pump in the last seven days. Coinflux price currently holds a market cap of 1.6 billion.
The pump can be attributed to Chinese liquidity provisions that were announced causing many Chinese coins to start pumping. $CFX, which is viewed as the “Chinese Ethereum,” has been the biggest beneficiary attributed to this week’s pump.
Pyth Network (PYTH) is this week’s top gainer as it wraps up our list today. The Pyth Network price stood at $0.9936 as of press time representing a 32.05% pump in the last seven days. Pyth Network price currently holds a market cap of 1.4 billion.
Thanks to the contributions of more than 95 active data suppliers, Pyth has grown into the biggest first-party oracle network. According to BitmonkCrypto, over 45 distinct blockchain networks rely on these pricing feeds to power over 290 decentralized application integrations. Therefore, Pyth’s market data is in high demand across the decentralized financial industry attributing to this week’s surge.
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Author: NixCoin
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