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August 9, 2022
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Ethereum hits new historic high above $ 2,150

In a week of ups and downs, Ethereum is looking for a new historic high above $ 2,150.

Despite these records, the week is coming to an end without the necessary confirmations needed to start a new monthly cycle.

For the first time, bitcoin, after six consecutive days with volumes below $ 10 billion, the longest streak since the beginning of the year, closed the day with deals reaching $ 11 billion.

Ethereum continues to trade with daily volumes below $ 7 billion.

Over the course of the week, total capitalization tried, unsuccessfully, to break the $ 2 trillion mark several times.

Bitcoin’s dominance fluctuates above and below 55%, the lowest level in six months. It is a sign that marks the beginning of a new season at the same time that it currently lacks the necessary confirmations to give the official start. Confirmation should come in the coming days so as not to risk a reversal of the trend and sentiment.

The XRP had a strong return this week, ending the week at over 75%, the best performance of the 60 major currencies. Ripple rose again above $ 1.10 after more than three years.

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One of the best performers today was Binance Coin (BNB), which rose 6% to a new high of $ 424.

Enjin Coin (ENJ) also rose more than 20% from yesterday’s levels, posting a gain and a weekly performance of more than 40%.

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The strong overall performance brings the total value of DeFi to an all-time high of more than $ 51.3 billion.

Compound consolidated its position as the project with the highest level of blocked guarantee, a position it took over the week, after several months of undisputed leadership by Maker.

In the last 24 hours, Aave, another credit and financing project, recovered the third place in the ranking of the DeFi protocol.

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Bitcoin (BTC)

Despite the uncertain movement that has characterized the price of Bitcoin since the beginning of April, maintaining the lows of this first full week in April, the area of ​​$ 55,600, a level that coincides with the upward dynamic support, provides the only signal that currently supports the maintenance of the upward trend that started in late January.

Over the weekend, it will be necessary to confirm the maintenance of the lows, since the break in a phase of low trading volumes may cause speculative downward movements.

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Ethereum (ETH) in search of new records of all time

For Ethereum, it will be necessary to confirm the breach of the technical and psychological limit of $ 2,000 with a weekly close above this level. Unlike Bitcoin, the week for Ethereum marks the beginning of a new monthly cycle. In the coming days, it will be necessary to find confirmations, with new historical maxims.

Source: cryptonomist

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