This week, the global cryptocurrency market showed modest growth despite a significant drop in trading volume. Key news highlights include developments from Worldcoin, Tesla's actions, and SEC's regulatory moves.

Market Cap and Sentiment

The total cryptocurrency market cap increased by 0.64%, reaching $2.34 trillion. Despite this growth, 24-hour trading volume decreased by 16.82%. The Fear & Greed Index hit 61, indicating 'Greed' among investors. Bitcoin maintains dominance with a 57.6% share, followed by Ethereum at 13.6%.

Key Cryptocurrency News

Worldcoin, launched by Sam Altman, has officially deployed its new Layer-2 network 'World Chain' on Ethereum, aiming to enhance efficiency and cater to 15 million verified users. Tesla transferred nearly $765 million in Bitcoin from its wallet, leaving just $7 behind, raising questions about its future crypto holdings. The SEC has appealed the ruling on XRP's sales, potentially impacting its future. Grayscale has filed to convert its Digital Large Cap Fund into a crypto-spot ETF amid growing institutional interest, even as XRP's price action remains subdued. Litecoin has reached 4 billion transactions in 24 hours, signaling increased activity.

Market Development and Prospects

Current events indicate growing interest in several major cryptocurrencies, supported by large corporations and regulators. Assets like XRP and Litecoin seem to retain attractiveness for investors and companies, which might influence their price and popularity in the future.

The past week has shown persistent interest in cryptocurrencies from both investors and major companies, with innovations and regulatory changes continuing to play a crucial role in market dynamics.