Bitcoin has made another dip to $58,000 with its lowest seeing $56,000 after a supposedly promising rally following its significant crash that sent the industry plummeting, leading the top story of this week's CryptoWatch on Tech Times. Last week also saw the ramping development from Crypto.com where it managed to secure a partnership with UEFA as its sponsor until 2027.
Tech Times
To start this week, take a look at the prices of the top coins in the market, and know which cryptocurrencies made the most progress for the past seven days.
Bitcoin Dips to $58,000 After a Promising Rally
Two weeks ago, the entire cryptocurrency industry was gravely affected by the stock market crash, leading to massive lows, but the dipping numbers are still present with Bitcoin, the top coin in the world. This was because around Wednesday, August 15 to Thursday, August 16, Bitcoin was still in the red area with its price dipping to $58,000 and lower.
Its lowest point last week reached $56,000, played around in $57,000, before ultimately resting at $58,000 which it cannot get out of.
However, it is important to note that Bitcoin saw a promising rally last week where it rose to a $60,000 value, but that did not last long, and on Thursday alone, it saw a three percent loss in 24 hours.
Another successful deal was made by the Singaporean crypto exchange platform, Crypto.com, which is now the proud sponsor of the UEFA Champions League from now until 2027. This sponsorship agreement is also a historic moment for the European football body and the crypto platform as it is the "first cryptocurrency partner" of the league.
The Union of European Football Associations (UEFA) revealed that apart from the Champions League, Crypto.com is also the sponsor of the UEFA Youth League and the UEFA Futsal Champions League.
This marks Crypto.com's massive presence in sports, with its Crypto.com Arena for NBA's Los Angeles Lakers and Clippers, WNBA's Los Angeles Sparks, NHL's Los Angeles Kings, as well as its Formula 1 and UFC.
Top Crypto Prices in the Market Now
Crypto is still in a bad spot and it is not yet out of the woods, as the decreasing numbers continue in the market, based on CoinMarketCap's charts.
Bitcoin (BTC) - Price: $58,163.35 | 0.50 percent decrease over the past seven days
Ethereum (ETH) - Price: $2,580.35 | 3.30 percent increase over the past seven days
Tether (USDT) - Price: $1.00 | 0.01 percent decrease over the past seven days
Binance Coin (BNB) - Price: $535.31 | 4.00 percent increase over the past seven days
Solana (SOL) - Price: $141.49 | 5.26 percent decrease over the past seven days
XRP and Toncoin, the 6th and 7th top coins, were the gainers this week, with a 1.21 percent and 3.54 percent increase respectively, alongside BNB. However, the previously 10th spot holder, Cardano, was overtaken by TRON's significant performance with a 7.72 percent increase over the past week.
