Crypto Movement at a Glance: Crypto market continues to struggle amid mild positive buzz

economictimes.indiatimes.com:

The largest crypto by market cap has been struggling to break over the $31,000 level, indicating the low-risk appetite among the crypto traders since the market and investors have still not recovered from the crash of the previous month. Even though Bitcoin managed to hover around the $30,000 mark throughout the week, it was a bit of a volatile week, but on a larger time frame, the market remained largely consolidated. The coming week could be crucial for the cryptocurrency market in terms of the momentum.

Did you Know?

Fan tokens or sports crypto are digital assets that enable sports teams, leagues, clubs, associations and players to strengthen fan engagement.

Bitcoin mining has also been impacted due to the downward trend in the market, making it less profitable for miners. It also resulted in auctioning their mined tokens. As the United States was one of the most relevant countries for Bitcoin mining and other decentralized tokens, the Washington government has increased the electricity rates. This also affected the miners. The second-largest cryptocurrency, Ethereum, is also running low compared to the performance of Bitcoin. Most cryptos have faced a bit of drop after witnessing slight growth the past week. Crypto prices have declined this year due to several macroeconomic factors, and the Federal Reserve hiking interest rates to combat inflation is one of the prominent ones. And, the crash of Terra being the other one. On the other hand, in an exciting turn of events, Solana has reached a new milestone as the combined sales on the network reached $2.35 billion this June, despite the recent decline in the sale of NFTs. The new sales record is a ray of hope for the blockchain after SOL