时间：2024-03-10|浏览：246
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Popular cryptocurrencies to watch this week: BTC, ETH, WLD
Popular cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH) have driven $270 billion in market capitalization over the past week. The total market capitalization increased by 11.3% to $2.64 trillion. This considerable growth has also been significantly contributed by Worldcoin (WLD).
BTC, ETH and WLD Prices - March 10
BTC hits new highs
The upward momentum in the cryptocurrency market has continued into the week, with many assets hitting new highs. As the leading cryptocurrency, Bitcoin has not been left behind in this trend, as the coin has seen a huge price increase driven by massive demand, mainly supported by demand in the spot Bitcoin ETF market.
Data from K33 Research confirms that amid continued inflows into these spot Bitcoin ETFs, they held more than 300,000 Bitcoins worth $17 billion as of March 4. Inflows into these products reached $562 million on Monday. These inflows show the huge demand for Bitcoin from traditional investors looking to gain exposure to Bitcoin.
Driven by this continued demand, BTC rose by more than 8.5% on March 4, reaching a high of $68,529. Despite the presence of resistance at $68,529, Bitcoin remains above $68,000, hoping to use it as a springboard to push towards higher heights.
The asset finally broke through its previous all-time high price on March 5, skyrocketing to a new all-time high of $69,098. However, resistance at this price point triggered a massive retracement, causing BTC to fall below $60,000 for the first time.
BTC recovered from this pullback and continued to regain lost gains, eventually breaking through the key psychological mark of $70,000 and setting a new all-time high. The coin has experienced a minor correction at this level but is still trading above $69,000 and was at $69,461 at the time of reporting.
In a cyclical rally, Bitcoin is up 10% this week, adding $130 billion to its market capitalization. Several bullish price predictions have emerged this week as the asset continues to beat expectations, including Bitget’s managing director Gracy Chen predicting a rise to $200,000.
You May Also Like: Bitcoin Hits New All-Time High, Over $70,000
Ethereum breaks through $4,000
As talk of a spot ETH ETF heats up, QCP Capital analysts explore the possibility of Ethereum outperforming in an escalating bull market. As the gains continued, ETH closed above $3,800 on March 6, with an increase of 7.46%.
March 8 also witnessed a series of price increases as Ethereum sought to record a third consecutive day of gains. The crypto asset first surpassed the $4,000 mark on March 8 before encountering rejection.
ETH is still struggling with this price level and is currently trading at $3,956.
WLD breaks through $11 to reach new high
The Worldcoin project has suffered multiple regulatory setbacks this week, but its token WLD has recorded a surge, rising by more than 24% for the week. However, WLD started the week marked by a price drop, falling 6.86% to $7.36 on March 4.
The plunge comes amid reports that South Korea’s Personal Information Commission may investigate Worldcoin’s operations. On March 5, WLD fell by 12% amid unique bearish sentiment and a pullback across the cryptocurrency market.
However, despite the project being banned in Spain, WLD recovered its March 5 losses the next day. Reports didn't surface until reports of OpenAI's new board members emerged.
It is worth noting that the company disclosed the appointment of new board members later on March 8, indicating that CEO Sam Altman has joined the board. Affected by this report, WLD surged 42% on March 9 to a new all-time high of over $11. The asset ended the day with a staggering 55% gain.
Despite facing a major correction today, WLD is still trading above its previous highs, trading at $9.78 levels, down 16% on the day. Worldcoin is also up 33% this month, outperforming BTC, ETH, and Solana (SOL).
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