Cryptocurrency markets have witnessed significant trading activity in the past week, highlighted by Bitcoin's price hovering around $78,400. This represents a notable correlation with gold, now at 0.56, the highest since records began in 2017.
Trading applications reported their most active week since the Trump administration, processing over $6.35 billion last week. This surge was driven largely by Fomo and gmgn's trading bot, which together accounted for a significant portion of the total volume. New meme coins and infrastructure tokens, including ZCAT and Stonk, contributed to the excitement, with many surpassing $100 million in trading volume.
Despite some fluctuations in major cryptocurrencies, including a drop of 1% for Bitcoin and Ethereum, altcoins such as AERO and VET saw impressive gains. The trading volume on decentralized exchanges also saw a week-over-week increase, reaching $217.33 billion for the month, suggesting a vibrant trading environment.
