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## Weekly Trend Overview
The crypto market has shown a recovery state this week, entering a volatile upward cycle after the BTC halved. Fluctuations and increases mainly characterize the trend within a week, but towards the end of the weekend, there has been a slight decline again due to regional conflicts. Currently, mainstream currencies are showing some signs of continuing to rise. The overall market value growth of the crypto market has increased compared to the same period last week, currently maintaining around $2.38 trillion, a decrease of 0.06% within 24 hours. The market sentiment remains at 60. This week, the key mainstream currencies have shown a trend of fluctuating and rebounding. This trend has been strengthened this week after most mainstream currencies started to recover last weekend. However, it is still affected by factors outside the market. Overall, the crypto market will continue its upward trend for most of the week over the weekend.

Compared to last week, there has been a slight increase in the total crypto market this week, based on the rapid decline in the closing period of the weekend. Overall, the market has shown clear signs of recovery. The top 100 crypto projects have a rise and fall ratio of 8:2 within a week, with most currencies showing a significant rebound. Multiple sectors have shown a rotating trend, and overall, they are still in the early stage of recovery. The price trend of BTC has remained relatively stable within a week, currently maintaining around $64,796, with a weekly increase or decrease of about 2.25%. The ETH situation is similar, with a rise and fall of about 3.21%, currently maintaining a continuous fluctuation of around $3,161.

BONK is the best-performing currency in the market this week, with a 7-day increase of 94.83%. The currency price is currently maintained around $0.000028, ranking first in a week of gains.

The overall crypto market has recovered and rebounded this week. After the BTC halving, the market cycle began to adjust, and an upward trend was expected over the weekend.

## Crypto Market
🔥 The crypto market has shown a volatile upward trend throughout the week, with a slight decline towards the end of the weekend.

🔥 On Monday, 24-hour BTC+1.7%, ETH+1.4%; The top 500 companies with a market value increase or decrease of ≥ 30%: POPCAT+39%; Solv BTC's asset management volume has reached a historic high; Rune concept, BRC-20, MEME, AI, and US crypto stocks saw general gains.

🔥 The hot topics in the crypto market have pushed up transaction costs, causing miners' income to increase instead of decrease temporarily.

🔥 The founder of Ordinals expressed his hope that the rumor that he was Satoshi Nakamoto could be quelled through runes because Satoshi Nakamoto would never do such a foolish thing.

🔥 Runestone snapshot completed, DOG airdropped within a few days, news of Runestone plummeting. The founder of Runestone stated that they do not hold it but prefer ORDINALS•ARE•DEAD.

🔥 Rune 2 DECENTRALIZED: The snapshot has not been taken yet, and the plan will be announced next week.

🔥 Merlin Chain, Unicross, RunesFactory, SatoshiVM, Bitget Wallet, and others perform actions related to runes.

🔥 The second round of LFG Launchpad voting on Jupiter has ended, with LSD protocol sanctum and AI project UpRock winning.

🔥 ZachXBT: Rug after raising over 180,000 SOL for 12 Memes in one month.

🔥 The price of SAFE is around $3, with a total market value approaching $3 billion.

🔥 On Tuesday, 24-hour BTC+0.4%, ETH -1.4%; AKT+53% when the market value of the top 500 fluctuates by ≥ 30%; ZKFair's weekly Gas profit reached a historic high.

🔥 The US BTC spot ETF had a net inflow of $62 million on Monday.

🔥 BlackRock's BTC spot ETF achieved net inflow for the 70th consecutive day.

🔥 Magic Eden launches Runes trading platform.

🔥 ZKasino: Will launch DAO governance model; ZKAS DEX is about to be launched.

🔥 Slerf has refunded over $1 million to its pre-sale buyers.

🔥 X payment: Beyond the scope of rewards, it will allow for transfer, shopping, and earning interest.

🔥 Final Fantasy developers and Animoca will develop the GameFi Symbigenesis.

🔥 EZETH was once significantly anchored; Multiple whales bought during the period of detachment to achieve rapid arbitrage.

🔥 Wednesday 24-hour BTC -2.1%, ETH -0.8%; HBAR+40% for the top 500 companies with a market value increase or decrease of ≥ 30%; POPCAT prices, Linea TVL, and stablecoin holders have reached historic highs; Mainstream MEME is generally rising.

🔥 The US BTC spot ETF saw a net inflow of $32 million on Tuesday.

🔥 ViaBTC auctions BTC's fourth halved block of rare satoshis Epic Sats.

🔥 BMW's official tweet celebrates BAYC's birthday.

🔥 Thursday 24-hour BTC -4.3%, ETH -5.5%; Top 500 increase or decrease in market value ≥ 30%: None; The difficulty of BTC mining and the transaction volume of Q1 NFT lending market reached a historic high; The overall market fell, and Altcoins generally fell.

🔥 Ordinals developer: A meme coin DOG has been airdropped to Runestone.

🔥 Currently, there are two rune projects with a market value of over 100 million, namely DOG and RSIC; DOG's market value surpasses RSIC and ranks first.

🔥 Merlin Chain has opened BTC for staking release.

🔥 DWG Labs has invested in over 740 projects.

🔥 It seems that the same person's wallet purchases 44.9% of the total supply after the launch of MANEKI.

🔥 The TON ecosystem GameFi Catizen has over 3 million players and over 250,000 on-chain users.

## Regulatory & Macro Policies
🔥 The New York Stock Exchange will adjust trading hours to a 24/7 all-weather mode for consultation.

🔥 Six BTC or ETH spot ETFs (Jiashi, Huaxia, Boshi Fund) have been officially approved in Hong Kong, the first case in the Asian market.

🔥 The SEC solicited opinions on the BlackRock ETH spot ETF proposal and postponed the resolution on the Franklin spot ETH ETF and Grayscale ETH trust conversion ETF application.

🔥 Apply for registration of ETH Mini Trust ETF in Grayscale.

🔥 2,500 Chinese investors have submitted a joint letter to the Ministry of Public Security requesting intergovernmental negotiations to recover their assets (BTC confiscated by the UK).

## Crypto Market Highlights  
⭐️In the past week, the crypto market has rebounded. After the fourth halving of BTC, miners' income has increased rapidly, and various hot news has driven the prices of mainstream currencies up as a whole. However, this round of recovery is still in its early stages, and the prices of several key currencies have not yet returned to their previous price levels. However, there is still a need for some hot topics inside and outside the market to stimulate.

⭐️The overall market situation has risen this week, with many currency prices recovering significantly. Among them, the MEME sector experienced a significant drop in prices earlier, and this sector has also shown a clear upward trend in this round of recovery cycle. Among them, BONK's weekly increase reached 94.83%, and the current price remains around $0.000028. The weekly high point of the price once reached above $0.000029, while the low point appeared around $0.000013 during the opening period, with a weekly increase close to doubling.
![](https://gimg2.gateimg.com/image/article/17141023481.jpeg)
(Data Courtesy Of Coinmarketcap)

## BTC & ETH Weekly Performance

### BTC & ETH Weekly Performance
![](https://gimg2.gateimg.com/image/article/17141023832.jpeg)
(Data Courtesy Of TradingView)

The price of BTC has increased to some extent this week, but overall it is a slight price rebound based on last weekend. There was a significant downward trend towards the end of the weekend, which prevented the weekly increase from achieving a high price increase. Presently, the currency has maintained a continuous fluctuation around $64,678 and has shown a certain upward trend. The high point of BTC's weekly price is $67,252, while the low point is near $62,802, falling below $63,000 in a short period of time.

Analysis suggests that the price of BTC this week is still in a rebound cycle after the fourth halving, coupled with consecutive days of large net inflows of ETF funds. The market has a strong bullish expectation for the price of BTC, and the impact of halving will drive the price of BTC to recover to a certain extent. Considering the recent hot spots in the ecosystem to which the currency belongs, the overall trend will continue upward until it returns to above the $70,000 level.

### Ether (ETH)
![](https://gimg2.gateimg.com/image/article/17141024213.jpeg)
(Data Courtesy Of TradingView)

The price fluctuation of ETH this week is greater than that of BTC, and it is also in a relatively straightforward period of rebound. However, the currency's price remained below $3,200 for most of the week. Although the overall trend showed a significant recovery, it was still unable to achieve a significant rebound due to external information limitations. The high point of the currency's price within a week was close to $3,300, while the low appeared around $3,074, which was rapidly declining towards the weekend.

Analysis suggests that the performance of ETH coin prices this week is relatively more susceptible to external information, with a more drastic fluctuation in coin prices. Moreover, the impact of SEC-related reviews is still unfavorable, which makes the sustained upward support for ETH prices relatively weak. The short-term increase in the currency is expected to remain similar to earlier levels and cannot be compared to the expected BTC price in the long run.

## Web3 Project Trend
This week, the total market value of seven types of projects has shown an upward trend. Due to the impact of market cycle changes, each track is mainly affected by market recovery. However, the weekly price recovery of several key mainstream currencies still needs to be improved. Currently, the overall upward trend of the market is expected to continue for some time.

| Project category  | 7d Change  | Top 3 Gainers  | Comment  |
| ------------ | ------------ | ------------ | ------------ |
| Layer 1 | 6.8% | $MUU,VANRY,CUDOS | The Layer 1 sector has seen some recovery this week, with a significant increase in the top growth currencies. The overall market trend is expected to usher in a sustained upward cycle throughout the industry. |
| Layer 2  | 8.4%  |LSK,BVM, LAI | The Layer 2 track has rebounded this week following the overall upward trend of the market, with the top growth projects mainly continuing the upward solid momentum of several projects from last week. |
| DeFi  | 7.1%  | GXT,ACRE, COFI | The DeFi sector has seen a significant increase, with the top growth project GXT experiencing a very high weekly increase. The overall liquidity of the track has seen a significant increase this week.|
| NFT  | 14.1% | GXT,GET,FRIES | The NFT market has seen a significant increase this week, with the top growth projects mainly focusing on several popular projects in the market.|
| MEME  | 16.5%  | $RECA,MANEKI,PAJAMAS | The overall market recovery of the MEME coin track this week is very obvious, but the fluctuation of ups and downs is relatively large. |
| BRC-20  | 4.4% | OMBI,CORE,GRUM |The BRC-20 track has shown some recovery this week, but due to its strong association with the <a href="/pt-br/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> ecosystem, the track is still in the early stages of recovery, so the overall increase is relatively limited. |
| AI  | 13.5% | MAN,RAIN,CUDOS|  The AI track has significantly recovered this week, with a significant price increase. The performance of the TOP growth projects is relatively good, and combined with the market trends of key currencies, it is expected to have a significant increase in the future. |



<div class="blog-details-info">
<div>Author:**Charles T.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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Weekly Web3 Research | Market Showed an Upward Trend of Volatility; Income of Miners Temporarily Up Instead of Down; 2 Runes with a Market Cap of Billions