Bitcoin and Ethereum Dip as Chainlink, XRP, XDC Lead Growth

Jul 24, 2023
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Although crypto market may look stalled to some investors, it’s not quite so. There are many interesting themes to discuss even within the BTC-ETH dominance/adoption/BRICS-summit domain, let alone sudden jump of Ripple (XPR) inspired by the recent ruling of a U.S. court in its favor, and many interesting DeFi and pre-IDO scoops like token Catley – still can entertain even the biggest skeptics. Last week’s strong altcoin rally slowed this week as Chainlink, XRP, XDC, Stellar, and TRX were among the coins that posted notable gains over the period.

Bitcoin (BTC) and Ethereum (ETH) started the weekend slightly weaker than this time last week. According to CoinGecko, Bitcoin is down 1.7% and is currently trading at $29,772. Meanwhile, ETH is down 2.5% on a weekly basis to trade at $1,870 at the time of writing.

The biggest movers among the majors this week were Solana (SOL), down 11.5% to $24.64, and Avalanche (AVAX), down 7.2% to $13.47.

Several altcoins have gained weight; notably, Toncoin (TON) rose 3.2% to $1.41, Stellar (XLM) rose 23% to $0.163126, and Chainlink (LINK) rose 15% to $7.98. Chainlink started the rally last Monday, launching the Cross-Chain Interoperability Protocol (CCIP) on its mainnet. The protocol currently supports Avalanche, Ethereum, Optimism, and Polygon networks. It also integrates with Aave and Synthetix DeFi lending protocols. Chainlink says it is the gateway for TradFi institutions to tokenized digital assets.