Weekly Crypto Roundup: testing times, trapped funds and thefts
Crypto watchers and investors hoping for a dramatic market turnaround were once again disappointed this week as Bitcoin
hovered around the $20,000 mark for most of the time before rising slightly to $22,000 on Friday.
Ether also stood above $1,200 and many of the largest cryptocurrencies by market cap also saw modest price recovery.
However, a report by crypto-analytics platform Glassnode shows that June 2022 was one of the poorest months for Bitcoin in history since 2011.
The largest cryptocurrency by market capitalization fell by almost 38%, and active addresses also fell significantly.
This is a testing period for investors, many new and inexperienced traders are afraid to exit their positions.
Meanwhile, long-time holders, called Krypto HODLers, and high-profile buyers – known as “whales”
can use this time to replenish their wallets and wait out the bear market. or cut your losses to get out.
While the number of BTC held on addresses continues to grow every day, it is more likely that short-term investors
will be shaken and HODLers instead determine the trend of Bitcoin's performance. Another company has joined the fastest
growing chain of crypto-lending platforms and exchanges struggling to stay afloat during the ongoing market crash