Crypto market news this week: Circle earnings and key token unlocks
The crypto market was mixed last week, with top coins like Bitcoin, XRP, and Cardano falling, while privacy tokens like Monero, Zcash, and Dash soared.
- Circle Internet will publish its financial results this week as its stock crash continues.
- Top cryptocurrencies will unlock tokens worth millions.
- Some of the most notable ones are Aster, Sei, and Zebec Network.
Bitcoin (BTC) price remained under pressure this week, moving from a high of $111,000 in November to a low of $98,860. The market capitalization of all tokens dropped to $3.4 trillion.
Circle earnings will be a key crypto market news this week
Some top companies in the crypto market, like Coinbase and Robinhood, have published strong results recently.
Circle Internet, the creator of USDC and EURC stablecoins, will be the top crypto stock to watch this week as it releases its results. These numbers come as the stock has plunged by over 65% from its all-time high.Â
The stock has plunged as the enthusiasm experienced a few months ago faded. Also, there are signs that the USDC growth has stalled, with its market capitalization remaining at $75 billion.
Data compiled by Artemis shows that the transaction volume dropped by 24% in the last 30 days to $2.4 trillion. The number of addresses has dropped by 6% to 13.2 million, while transactions fell by 8%.
The company’s stock has also slipped as interest rates have moved downwards, which will impact its revenue. Most importantly, the company’s lock-up expiry will happen in December. Analysts anticipate that the upcoming results will show that its revenue rose to $700 million in the last quarter.
Aster, Linea, Starknet, Sei, and Zebec Network unlock
The other top crypto market news to watch this week will be token unlocks by some of the top coins. Aster, the fast-growing, Changpeng Zhao-backed perpetual exchange, will unlock 200 million tokens worth over $210 million. It has now unlocked about 25% tokens so far.
Linea, an upcoming layer-2 network, will unlock 2.88 billion tokens worth about $35 million on Monday. Starknet, which has a market cap of over $628 million, will unlock 163 million coins, while Zebec Network will release 1.04 billion tokens.
The biggest coin with unlocks will be Sei, which will release tokens worth $21 million. Other smaller coins with unlocks this week are Chainbase, Boba Network, and Gods Unchained.
