Weekly Update
The global crypto market cap is up by 5.53% to $1.03T at the time of writing this article. Over the past 24 hours, the overall volume of the cryptocurrency market has increased by 18.94% to $85.81B. In comparison to last week, the crypto market has performed well, with the market capitalization of crypto assets slightly increasing, resulting in an increase in the overall Cryptocurrency Market Capitalization.
DeFi’s total 24-hour volume is $$7.93B, or 9.25% of the overall crypto market volume. All Stablecoin volume is currently $78.07B, or 90.98% of the 24-hour volume of the whole crypto market.
Bitcoin was trading at about $20,669.19 at the time of writing. According to data from CoinMarketCap, Bitcoin’s market share is currently 38.57%, an increase of 0.75% from the previous day.
This week, Bitcoin hit a 30D Low of $18,702.59 before bouncing back to its regular trading price, resulting in an upward trend. Minor corrections are healthy in a volatile market, and they frequently result in the asset reaching a new all-time high. Given the rise of Web3 and Crypto, as well as the inherent volatility of cryptocurrency trading, this upward movement has instilled hope in investors.
White House & PoW Mining
The White House Office of Science and Technology Policy, according to a report released on Thursday, said crypto miners should reduce greenhouse gas emissions with assistance from the Environmental Protection Agency (EPA), the Department of Energy (DOE), and other federal agencies, as mandated by President Biden in an executive order issued in March.
The United States is now a Bitcoin mining hotspot. After China cracked down on the industry, mining operations flocked to North America: according to yesterday’s report, the United States’ share of global Bitcoin mining increased from 3.5% in 2020 to 38% now.
The adoption of green energy for mining activities has increased dramatically over the years, so meeting this target despite the challenges might be possible, giving birth to cleaner, greener cryptocurrencies.
