The crypto market was mixed last week, with major coins like Bitcoin, XRP and Cardano falling, while privacy tokens like Monero, Zcash and Dash soared.
Summary
- Circle Internet will report its financial results this week as its stock market crash continues.
- Top cryptocurrencies will unlock tokens worth millions.
- Some of the most notable are Aster, Sei and Zebec Network.
The price of Bitcoin (BTC) remained under pressure this week, falling from a high of $111,000 in November to a low of $98,860. The market cap of all tokens fell to $3.4 trillion.
Circle Profits Will Be Key Crypto Market News This Week
Some major companies in the crypto market, like Coinbase and Robinhood, have recently reported strong results.
Circle Internet, the creator of the USDC and EURC stablecoins, will be the top crypto stock to watch this week when it reports earnings. These figures come as the stock has plunged more than 65% from its all-time high.
The stock plunged as the enthusiasm felt a few months ago faded. Additionally, there are signs that USDC’s growth has stalled, with its market cap remaining at $75 billion.
Data compiled by Artemis shows that trading volume fell 24% over the past 30 days, to $2.4 trillion. The number of addresses fell 6% to 13.2 million, while transactions fell 8%.
The company’s shares have also fallen as interest rates have fallen, which will impact its revenue. More importantly, the company’s lockup expiration will occur in December. Analysts predict that upcoming results will show that its revenue reached $700 million last quarter.
Unlocking Aster, Linea, Starknet, Sei and Zebec networks
The other important crypto market news to watch out for this week will be the unlocking of tokens by some of the top coins. Aster, the fast-growing perpetual exchange backed by Changpeng Zhao, will unlock 200 million tokens worth over $210 million. So far, he has unlocked around 25% of tokens.
Linea, an upcoming layer 2 network, will unlock 2.88 billion tokens worth around $35 million on Monday. Starknet, which has a market capitalization of over $628 million, will release 163 million tokens, while Zebec Network will release 1.04 billion tokens.
The biggest coin unlocked will be Sei, which will release tokens worth $21 million. Other smaller coins unlocked this week are Chainbase, Boba Network, and Gods Unchained.
