Bitcoin Tops $43K, Giant Jupiter (JUP) Airdrop & Solana Rise: This Week’s Crypto Recipe

The market has continued to recover from last week's decline and is currently stable at over $1.7 trillion in total capitalization. This comes on the back of the increase in the price of Bitcoin, a huge airdrop, as well as the correct performance from some major altcoins.

Starting with Bitcoin – it managed to break through the $43K level and even tried a shot at $44K but came up short. This puts BTC up just under 5% for the past seven days, indicating another week of recovery.

Market participants will be curious to see if the next few weeks will see the bull run continue or if there is more pain ahead.

However, it was another event that took center stage this week.

We're talking about Jupiter's airdrop over Solana. JUP was handed over to users who traded on the platform before November last year. The token currently sits at around $0.63 and has a total market capitalization of $850 million. Basically, it trades at a fully diluted value of around $6 billion, making it one of the most successful airdrops in crypto history.

All attention seems to have shifted to ecology, which is why Solana has increased by 10% in the same period. SOL trades at $100 and it will be interesting to see whether or not it can finally push above that critical technical and psychological level.

In any case, the week was indicative of the many opportunities that regularly flourish in the cryptocurrency market and is proof that it is probably one of the most exciting industries out there.

Let's see what happens next, especially with Bitcoin halving around the corner!

Market data

Market Value: $1.74T | 24H Volume: $75B | BTC dominance: 48.8%

BTC: $43,202 (+4.8%) | ETH: $2,303 (+2.6%) | SOL: $100 (+10%)

You better not miss this week's headlines

XRP price fell 5% when Ripple's Chris Larsen confirmed the breach of private wallets. Reports are that Ripple was used as the reason for the loss of XRP worth more than 100 million dollars. Chris Larson – one of the co-founders – quickly clarified that only his personal XRP was compromised and not his company's.

Bitcoin (BTC) Miners Release Biggest Selling Wave Since May 2023 If you're wondering why the price of Bitcoin has fallen over the past two weeks, look no further. In May 2023, miners seem to have unleashed their biggest selling wave yet.

BlackRock's Bitcoin ETF's daily trading volume is greater than Gray's. The world's largest asset manager Bitcoin ETF – BlackRock – is the leader in trading volumes. The investment instrument surpassed Grayscale for the first time earlier this week.

Bankrupt Genesis Global Settles SEC's Contact Us Lawsuit Genesis Global – a crypto lender that went bankrupt early last year – has filed a lawsuit with the United States Securities and Exchange Commission in connection with the defunct Gemini Get Lending program.

El Salvador is going to proceed with bitcoin-backed bonds, the vice president said. El Salvador – the first country to officially recognize Bitcoin as legal tender – continues to issue Bitcoin-backed bonds. According to the Vice President of the country.

Biden Admin Launches “Emergency” Survey of Bitcoin Miners' Electricity Use The administration of the President of the United States is looking at the electricity consumption of Bitcoin miners. This comes in the form of a risk assessment announced earlier this week.

Charts

This week we have Ethereum, Ripple, Cardano, Solana and Binance Coin chart analysis – click here for full price analysis.