After a brief slump period, the overall crypto market is finally showing some life. The market started the week on a positive note, with top cryptos gaining back value.
Names like Bitcoin, BNB, and XRP have exceeded expectations with their growth. At the same time, Solana, Ethereum, and Dogecoin are also experiencing a gradual surge. Altcoins like FET, AAVE, and NEO have also registered 10%+ growth in the past 24 hours.
With the market gaining stability, here is an overall outlook of the crypto industry with some important updates.
Bitcoin
The market leader started the fourth week of August with 4% growth in one day. The crypto has comfortably crossed the 60k-dollar mark and is currently eyeing 61,000 dollars.
Its 7-day growth of 2.83% puts the crypto at 60,930 dollars right now. The forced selling period for BTC is over, and analysts expect a positive response. In the meantime, Metaplanet bought 57 BTCs at 500 million Yen to trigger a surge.
As August fades, Bitcoin is expected to return to its 65k-dollar mark.
BNB
In the past 24 hours, the native currency of Binance has registered a surprising growth of 6.65%. It is currently trading at 571 dollars, up 10.14% weekly.
The coin has not undergone any significant developments. Nevertheless, investors have been directed to Binance for crypto transactions as a result of China’s crypto ban. Since Binance is the preferred platform for users, the ban only promotes the exchange’s popularity.
That is why BNB is also experiencing a quick surge in the market.
XRP
XRP or Ripple has been experiencing a surge in value since the resolution of its litigation against the SEC. For this week, the crypto has generated 7.22% daily growth to cross the 0.6-dollar mark.
It is trading at 0.61 dollars, with a 7.21% weekly surge. Analysts are expecting a +300% upside target for XRP as Suisse Gold has approved the currency as a payment option for precious metals like Gold.
FET
FET, or Artificial Superintelligence Alliance, is a collaborative effort between Fetch.ai, Ocean Protocol, and SingularityNet. The coin became the standout performer in the 4th week of August with a 12.61% daily surge.
It is currently trading at 0.91 dollars, with a weekly growth rate of 8.72%. Investors who expect an even better ROI in the coming months are intrigued by the price rebound.
Aave
Aave is in the same boat as FET, with 12.20% growth on the daily chart. The coin is currently trading at 126.40 dollars, with a weekly growth of 29%.
Crypto experts are predicting a breakout for AAVE with a bullish surge ahead. Along with Curve, Aave is emerging as a prime investment option for short-term investors.
The crypto market has rejuvenated from its brief slump with a swift turnaround. Now that top assets are showing signs of life, meme tokens and altcoins are also gaining stability. However, the market can still fluctuate given the overall condition of the global financial market.
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