[비즈한국] We summarize the market conditions and trends of major cryptocurrencies within the top 100 by market capitalization over the past week. We provide essential information, including key issues in major assets like Bitcoin and Ethereum, the altcoin market, and global policy variables. You can understand the volatile cryptocurrency market as easily and entertainingly as watching Netflix.
According to CoinMarketCap, a global virtual asset market tracking site, Dash (DASH) garnered the most attention in the cryptocurrency market from 7:00 AM on October 31 to 7:00 AM on November 7, recording a weekly growth rate of 160.46%. Dash is a payment-focused cryptocurrency that emphasizes fast transactions and privacy protection features. It is currently trading at 165,019 KRW with a market capitalization of 2.0585 trillion KRW. It showed a high growth rate alongside active trading, with weekly volume reaching 1.7696 trillion KRW.
zkSync (ZK) also drew market attention, recording a weekly growth rate of 143.34%. The current price of zkSync is 101 KRW, and its market capitalization stands at 853.58566 billion KRW. zkSync is a Layer 2 platform-based coin focused on blockchain scalability and privacy technology. Its 24-hour fluctuation rate is currently showing a downward trend at -6.11%. It is worth watching whether this is a temporary phenomenon due to profit-taking by some investors, and its weekly trading volume was 649.92182 billion KRW.
Internet Computer (ICP) continued its weekly rally with a 135.70% growth rate. Internet Computer is currently trading at 9,714 KRW, with a market capitalization of 5.2413 trillion KRW. Its 24-hour fluctuation rate is 23.64%, and it is seeing active trading with a weekly volume of 1.7347 trillion KRW. Internet Computer is a decentralized computing protocol aimed at building web services and data infrastructure.
Decred (DCR) also heated up the weekly market by rising 130.43%. Decred is currently trading at 53,377 KRW, with a market capitalization of 913.21072 billion KRW. However, caution is required as its 24-hour fluctuation rate is showing a downward trend of -13.32%. Its weekly trading volume was 72.201 billion KRW. Decred is a cryptocurrency featuring decentralized governance and a community-led decision-making structure, utilizing a hybrid consensus mechanism that combines Proof-of-Work (PoW) and Proof-of-Stake (PoS).
Zcash (ZEC) rose 55.34%, placing it in the top tier. The current price is 759,289 KRW, and its market capitalization reaches 12.3659 trillion KRW. Its 24-hour fluctuation rate is slightly up at 5.57%, and its weekly trading volume is 2.2368 trillion KRW.
During the same period, Filecoin rose 27.01% and is trading at 2,628 KRW. Astar rose 14.51% and traded at 1,471 KRW. It appears the decentralized exchange Astar benefited from a spillover effect as massive trading volume poured in immediately after Dash's listing. Monero is trading at 516,120 KRW, up 11.28%. Tezos rose 7.70% to trade at 870 KRW, and TrumpCoin is trading at 11,248 KRW, up 7.18%.
This week, the cryptocurrency market saw strength in various assets, including Dash, zkSync, and Internet Computer. Dash Coin experienced a sharp rise in line with the bullish shift in the global privacy coin market. Industry analysts suggest that several positive factors, such as new listings on major exchanges and the expansion of real-world use cases, were reflected simultaneously. In particular, expectations for the expansion of blockchain-based payment infrastructure within the year are credited with stimulating investment sentiment.
The price of zkSync surged in a short period due to global demand for regulatory avoidance, combined with growing market confidence in blockchain scalability technology. Experts explained, "With the cumulative growth rate exceeding 300% over the past three months, a bullish trend is continuing in both the short and medium term."
For Internet Computer, improvements in on-chain metrics, large-scale investment inflows, and expectations for increased investment in data infrastructure were reflected simultaneously. Industry officials stated, "Moves to strengthen governance and secure in-house AI and data center capabilities are enhancing confidence in the market," adding that "a decrease in actual exchange balances and pending buy orders acted as major factors in the price increase."
※ This article was written by BizHankook and MetaVX's generative AI.