Bitcoin regains yearly open as trader says 50K next week

Budrigantrade.com - A correction marked the beginning of the second quarter of 2022 for the cryptocurrency industry. Ethereum quickly lost nearly 6% of its value to reach 24-hour lows of $3.225 early on Friday, while the market leader Bitcoin quickly lost over 6.4% of its value to rest at $44.4K. With a market capitalization of $2.07 trillion, the overall crypto market has lost about 6% thus far.

Despite this, there were impressive bull rallies throughout the week. The coins with the greatest gains over the past seven days are listed here.

Zilliqa (ZIL) +379 percent The undisputed winner of the week was Zilliqa (ZIL), whose price increased from $0.0474 on March 25 to $0.2255 today in a single week. The coin currently positions 51st among cryptos with a $2.5 billion market cap, leaving it 16% short of its $0.2553 all-time high.

After Zilliqa announced that it would be launching its Metapolis platform on April 2nd, the majestic bull run really took off. The interoperable "metaverse-as-a-service" (MaaS) platform has been hailed as a game-changing technology for the entire industry. It provides setup services for users to build their own metaverse.

Waves (WAVES) +103 percent This week, Waves (WAVES) grew by more than 103 percent, going from $30.49 on Friday to $62.03 on the first day of April, its all-time high. With a market capitalization of $5.9 billion, the token is the thirtyth largest cryptocurrency.

The 338% increase in the total value locked on the Waves-based "Neutrino" protocol, which enables algorithmic stablecoins Neutrino USD (USDN) to be collateralized by the WAVES token, fueled the rise in WAVES prices. Since February, Neutrino has been increasing the supply of its stablecoins, which has resulted in an equal number of WAVES tokens locked up for the purpose of producing new USDNs. This could be a significant factor in the rising demand for WAVES tokens.

VeChain (VET) +59% The price of VeChain (VET) has increased by 59% over the past seven days. On Thursday, it reached highs of $0.08858, a price level not seen since the beginning of January. This puts VeChain (VET) back in 33rd place among the largest coins in the cryptocurrency space.

The positive news from the VeChain Foundation, which has been strengthening its presence and forming significant collaborations in Europe, led to a rally in the asset. The VeChain Foundation even became a member of the Consumer Goods Forum (CGF), which brings together CEOs and senior management from over 400 retailers, manufacturers, and relevant stakeholders from nearly 70 countries with combined sales of $2.79 trillion. This led to the asset's rally.

Aave (AAVE) +49% Aave has experienced rapid growth of close to 50% since March 2 and increased from $161.39 on Wednesday 30th to $239.98 on Thursday. This is the token's highest price in almost three months, despite the fact that AAVE has a market cap of $2.9 billion.

After the revolutionary and potent Aave V3 protocol went live on the project's mainnet across six different networks, the momentous rally, which initially gained steam earlier in March, intensified. This made transactions cheaper and more efficient, encouraging whales to accumulate the asset.

Filecoin (FIL) +49 percent Decentralized storage and cloud service network Filecoin rose from its $18.64 price point on Friday to a much improved $27.78 price point on Tuesday 29th, making it the 37th largest cryptocurrency on the market with a $4.3 billion market cap. This week, Filecoin saw gains of nearly 50 percent. FIL has since remedied by 14%, yet stays at its most significant level in 30 days.

Although the impressive pump helped Filecoin's price break out of its downtrend, the project's expanding storage capacity and consistently rising demand from Web 2.0 and Web 3.0 have been the only other driving factors.