This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Bitcoin experienced a significant surge on Friday, surpassing the $38,000 mark for the first time in over a year and a half. However, the cryptocurrency was unable to maintain its momentum and failed to continue its upward trajectory. Meanwhile, other altcoins such as Ethereum (ETH) and Solana (SOL) remained relatively stable, with ETH hovering around $2,100 and SOL trading just below $60. Throughout the week, Bitcoin and the overall market experienced volatility, with Binance, a prominent cryptocurrency exchange, taking center stage. Binance reached a settlement agreement with the US Department of Justice, resulting in a hefty fine of $4.3 billion and the resignation of its founder and CEO, Changpeng Zhao. Despite the rollercoaster ride, BTC managed to recover from a price drop to a weekly low of $35,600 and approached the $38,000 mark on Thursday before briefly surpassing it on Friday night, reaching a high of $38,500. However, it was unable to sustain this level and currently sits just below $38,000. BTC’s market capitalization remains at $740 billion, with a dominance over altcoins at 51.4%. While most altcoins experienced similar volatility, Binance Coin (BNB) was particularly affected, losing 20% of its value at one point but managing to stabilize around $235. ETH briefly exceeded $2,100 but failed to maintain its upward momentum, while Solana also fell short of the $60 mark. Notable gainers include STEPN, APE, and MINA, all of which saw double-digit increases. The total crypto market cap has increased by approximately 1% in a day, reaching $1.44 trillion. It is important to conduct thorough research before making any investment decisions.