🔊Weekly Market Highlights #55: July 10 - July 16

✨In the second week of July 2023, the cryptocurrency market was buoyed by the news that XRP was declared by a US court not to satisfy one of the criteria for considering securities status.

✨Although no final judgment has yet been made, this is considered a positive development in the legal battle between Ripple and the crypto industry with the SEC, causing many altcoins to be classified as securities by the SEC also recover.

✨Over the past week, the crypto market increased by ~$31B (from ~$1,179B to ~$1,210B) of its total capitalization.

✨BTC Defends $30K
✅BTC experienced enhanced volatility at the end of the business week, alongside the rest of the market, following Ripple's landmark victory against the SEC. Following the judge's ruling that almost all XRP sales do not constitute security transactions, BTC jumped from under $30,5K to a 13-month peak of over $31,8K.

✅However, it failed to keep this momentum going and retraced by several hundred dollars by Friday. Then came a more violent rejection that pushed it south to just under $30K. Currently, BTC is trading at ~$30.3K

✨XRP's Price Skyrocket
✅As expected, most altcoins soared after the SEC-Ripple ruling, especially XRP. It almost doubled in value in the hours and spiked to a 19-month high at $0.95, now trading around $0.75. SOL, MATIC, ADA, and LINK all have strong growth during the week, from 10 to 30%.

✅BSCS is trading at $0,00879, +1,98% from its 7-day all-time low of $0,008619.

✅ETH spiked above $2K but now stands at $1,93K after a two-day decline as well. BNB is back under $250.

✨Bitcoin Fear and Greed Index is 54 - Neutral, lower than at the beginning of the week (56)

✨ Dominance:
✅BTC: 48.5%
✅ETH: 19.1%

📣Stay tuned! The market's highlights will be updated by BSCStation 😎

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