Crypto week at a glance: Top tokens gain amid positive news flow

economictimes.indiatimes.com:

Bitcoin managed to reverse its losses and gained up to 7 per cent, following the rate hikes by the US Federal Reserve, which had a very low overall impact on the market. On Sunday, Bitcoin was trading above $44,600 levels, whereas Ethereum topped the $3,100 mark. Other altcoins followed the suite and were trading with decent gains. Despite the volatility, Bitcoin stayed above the $34,000, the level it broke in January 2022. However, it has dropped about 40 per cent from its peak of nearly $68,000 it scaled in November 2021.

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It now continues to be set back by increasing inflation and ongoing signals from the Fed that it would start pulling back on measures enacted to support the economy during the pandemic. Ethereum followed a similar pattern. Given the volatile history of cryptocurrency, the increase or decrease in prices doesn’t guarantee a long-term reversal. The future of cryptocurrency is highly likely to include even more volatility. Blockchain and cryptocurrency experts have stated that this is something long-term crypto investors would be required to deal with in the future.Terra plans to purchase Bitcoin Terra (LUNA), the 7th largest crypto asset by market capitalization, has gained worldwide acclaim. This is mainly the result of its highly impressive price hike in the last 30 days. As a result, the company’s management has announced its plans to add nearly $10 billion worth of Bitcoin to its project’s reserves soon. They believe that it would result in creating a new monetary era for the global Bitcoin standard.Microsoft supports ConsenSys ConsenSys, Metamask wallet’s parent company, has