Weekly Recap: Crypto Finally Had a Bounce Back Week
This was the best week for crypto in 2022, as most coins bounced back with a gain more than 20% over the past 7 days. This was much needed for the crypto holders, as the bearish sentiments were overwhelming the market with consistent declines in prices across all cryptocurrencies. Let’s take a look at the biggest winners over the past week.
ETH: $3,078.88 (+23.21% over the past 7 days)
Last week, we mentioned that Ethereum was targeting the $3,000 price level as the reconsolidation price, but was not sure how fast ETH could reach the reconsolidation price target, since the bearish sentiments were strong surrounding the crypto market. However, ETH broke all expectations and immediately climbed above $3,000 by the end of this week, bringing back hope for bullish investors on ETH and in crypto in general.
SOL: $119.49 (+32.74% over the past 7 days)
Solana made a massive comeback this week, skyrocketing by nearly 33% over the last 7 days. After crashing below $100, things seemed bleak for SOL, but it managed to climb back to near $120 by the end of this week, which should reinstate some confidence in investors.
MANA: $3.29 (+30.16% over the past 7 days)
It appears that MANA rode the wave of the crypto comeback this week as well, as it went up by more than 30% this week. MANA also benefited from the continued hype around NFTs and the metaverse, which is the main focus of the Decentraland blockchain protocol.
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