Weekend Watch: Bitcoin Stopped at $22K, Uniswap Soars 9%

Yesterday’s multi-week high saw bitcoin fall to below $22,000. This one begins with very little to no movement from altcoins, as it did last weekend. Uniswap is one of the few exceptions that has seen a significant price rise.

Bitcoin’s Voyage Above $22K Captured

According to recent reports, the last weekend saw little price movement, possibly due to Monday’s national holiday in the USA. BTC gained value once that had come to an end and rose from $19,000 to $22,000.

After several rejections, the asset was able to surpass it and keep climbing after that. It was eventually able to break through the $21,000 barrier and was knocking at the door on Thursday.

The cryptocurrency continued to climb, climbed past $22,000 and reached a new three week high of around $22,500. It was stopped at this point by the bears, who drove it down by about $1,000.

However, its market capitalization is well over $400 billion and its dominance in the alts is just 43%.

BTCUSD. Source: TradingView

Notable Bitcoin News

Marathon Digital stated that it did not sell any BTC during the market crash, contrary to other crypto miners.

Coinbase’s Bitcoin premium finally turned green, indicating that institutional investors are buying again.

UNI stands out

Many altcoins saw impressive gains over the week, but they have cooled off since the weekend began.

Ethereum reached a multi-week high above $1,250, but it has now retraced by just 2% to $1,220. Ripple, Dogecoin and Bitcoin are both slightly in the red daily.

BNB, ADA and SOL, DOT. SHIB., TRX, on the other hand, are all in green, even though they are small gains.

ICP, XCN and UNI are the top-earning altcoins in terms of gains, with a range from lower- to mid-cap altcoins. ICP trades over $7, UNI has reclaimed $6 and XCN is north at $0.1.

The cumulative market capital of all crypto assets is still at $950 billion, which is somewhat surprising.

Cryptocurrency Market Overview. Source: Quantify Crypto

Industry News

A lawsuit was filed by a California resident against Solana Labs for selling unregistered securities.

Celsius continues to struggle despite repaying Maker’s loan. New reports claim that Celsius’ strategies caused multimillion dollar losses for customers. Celsius is also being sued by its former money manager for fraud.

BlockchainCom is facing a $270 Million loss on loans it provided to Three Arrows Capital, a struggling hedge fund.

Elon Musk ended the deal to buy the social media platform because of the inability of the Twitter team to disclose sensitive information about its operations.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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