The Week in Crypto: Bitcoin and Ethereum Show Modest Gains, BLUR Token Soars

Bitcoin and Ethereum's Modest Increase

In the past week, bitcoin and ethereum, the two most popular cryptocurrencies, experienced modest gains against the U.S. dollar. Bitcoin saw a 2.7% increase, while ethereum rose by 6.5%. Although these gains were not significant, they indicate a positive trend in the market.

BLUR Token's Impressive Surge

While bitcoin and ethereum showed modest gains, the non-fungible token (NFT) marketplace Blur's token, BLUR, soared by a significant 72% in just one week. This impressive surge made BLUR the top-performing cryptocurrency of the week.

Double-Digit Growth for 17 Cryptocurrencies

Out of the numerous cryptocurrencies in the market, 17 digital currencies achieved double-digit growth during this week. Alongside BLUR's 72% surge, apecoin (APE) escalated by 26.3% and klaytn (KLAY) observed a comparable ascent of 26%. Other notable gainers included mina protocol (MINA) with a climb of 24.1% and illuvium (ILV) with a rise of 22.9%.

Declines in Some Digital Assets

While many cryptocurrencies experienced gains, a few digital assets witnessed declines during this week. Celestia (TIA) saw a significant drop, losing 21% of its value. Rollbit coin (RLB) decreased in value by 8.1%, and MATIC fell by 8%. Kaspa (KAS) also suffered a decline, losing 6% of its value.

Other Cryptocurrencies and Trading Volumes

Several other cryptocurrencies, such as XDC, BNB, SOL, CAKE, and SHIB, did not fare well during this seven-day period. On the flip side, the four digital currencies with the highest trading volumes were USDT, BTC, ETH, and USDC.

Market Share of Bitcoin and Ethereum

Within the $1.43 trillion crypto economy, bitcoin's market value represents 51.2% of the total, while ethereum accounts for 17.5% as of November 26. These figures indicate the dominance of bitcoin and ethereum in the cryptocurrency market.

Notable Gainers and Losers

The leading crypto gainers in terms of 24-hour performance include SUPER, ETHW, ROSE, PRIME, and MAGIC. On the other hand, the most notable losers during this period are SNX, SEI, FTT, and PENDLE.

Conclusion

While the week's top-performing cryptocurrencies displayed less vigorous growth compared to the previous week, it is still encouraging to see positive trends in the market. The gains of BLUR and other digital currencies indicate the potential for profitable investments in the cryptocurrency sector. What do you think about the week's biggest gainers and losers in the world of crypto trading? Share your thoughts and opinions in the comments section below.

Frequently Asked Questions

Is gold a good IRA investment?

Anyone who is looking to save money can make gold an excellent investment. It can be used to diversify your portfolio. There’s more to gold that meets the eye.

It has been used as a currency throughout history and is still a popular method of payment. It is often called “the most ancient currency in the universe.”

But unlike paper currencies, which governments create, gold is mined out of the earth. Because it is rare and difficult to make, it is extremely valuable.

The price of gold fluctuates based on supply and demand. The strength of the economy means people spend more, and so, there is less demand for gold. Gold’s value rises as a result.

On the flip side, when the economy slows down, people hoard cash instead of spending it. This increases the production of gold, which in turn drives down its value.

This is why it makes sense to invest in gold for individuals and companies. If you make an investment in gold, you can reap the economic benefits whenever the economy is growing.

Also, your investments will earn you interest which can help increase your wealth. Additionally, you won’t lose cash if the gold price falls.

How Much of Your IRA Should Include Precious Metals?

It is important to remember that precious metals can be a good investment for anyone. You don’t need to have a lot of money to invest. There are many methods to make money off of silver and gold investments.

You may consider buying physical coins such as bullion bars or rounds. Stocks in companies that produce precious materials could be purchased. Another option is to make use of the IRA rollover programs offered by your retirement plan provider.

No matter what your preference, precious metals will still be of benefit to you. Even though they aren’t stocks, they still offer the possibility of long-term growth.

And unlike traditional investments, they tend to increase in value over time. This means that if you decide on selling your investment later, you’ll likely get more profit than you would with traditional investing.

Can the government steal your gold?

The government cannot take your gold because you own it. It is yours because you worked hard for it. It belongs exclusively to you. This rule could be broken by exceptions. You could lose your gold if convicted of fraud against a federal government agency. You can also lose precious metals if you owe taxes. You can keep your gold even if your taxes are not paid.

Statistics

This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item’s value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
You can only purchase gold bars at least 99.5% purity. (forbes.com)
Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)

External Links

How To

Gold Roth IRA guidelines

The best way to invest for retirement is by starting early. It is best to start saving for retirement as soon you can (typically at age 50). It’s vital to contribute enough money each year to ensure adequate growth on an ongoing basis.

Additionally, tax-free opportunities like a traditional 401k or SEP IRA are available. These savings vehicles allow you the freedom to contribute without having to pay tax on your earnings until they are withdrawn. This makes them great options for people who don’t have access to employer matching funds.

The key is to save regularly and consistently over time. If you aren’t contributing the maximum amount permitted, you could miss out on tax benefits.

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By: Jamie Redman
Title: The Week in Crypto: Bitcoin and Ethereum Show Modest Gains, BLUR Token Soars
Sourced From: news.bitcoin.com/7-day-crypto-snapshot-blur-ape-klay-and-mina-lead-this-weeks-market-rallies/
Published Date: Sun, 26 Nov 2023 17:30:40 +0000