Bitcoin had a productive week, showing progress in the cryptocurrency market, where its total value almost reached US$3 trillion. BTC surpassed US$70,000 for the first time, moving ahead of silver in market value. The ongoing positive movement may be linked to the upcoming Bitcoin halving, now projected for April 15. Exchange-traded funds (ETFs) have gained significant traction since their launch on January 11, accumulating over US$11.1 billion in two months. This has not only exceeded expectations but also driven Bitcoin to a historic high before its usual halving event, leading to higher interest from investors observing the price evolution closely.

Ethereum also had a noteworthy week, breaking past US$4,000 for the first time since 2021. This increase accompanied BTC's rise and was bolstered by the successful introduction of the highly anticipated Dencun upgrade. The upgrade is expected to decrease gas fees on layer-2 networks by 75% within 1-2 months. ETH ended the week around US$3,969, showing a 4.6% rise. However, the ETH/BTC ratio experienced a slight decrease, losing 4.8% against Bitcoin's dominance.

Altcoins across various sectors displayed positive momentum, with GameFi seeing a notable uptick of 24.9%. Smart Contract Platforms and DeFi segments also performed well, with gains of 19.8% and 18.4%, respectively. Leading altcoin performers included AIOZ Network and FLOKI, both registering significant increases at 140.0% and 113.3%, respectively. DeFi protocols like Amp and THORChain also observed substantial gains, as did gaming/metaverse projects GALA and Ultra. Noteworthy developments include AIOZ's new file-sharing product and FLOKI's benefit from the ongoing memecoin trend.

In recent news, digital asset investment products saw remarkable weekly inflows of US$2.7 billion, summing up to US$10.3 billion year-to-date, nearly matching the total inflows of 2021 at US$10.6 billion. Additionally, a CryptoPunk was sold for 4,500 ETH (approximately US$16 million), marking a significant event within the Ethereum NFT collection. This sale hinted at a potential upswing for the NFT market amidst the current market upturn. Notably, regulatory discussions between the Securities and Exchange Commission, Grayscale, and Coinbase highlighted Ethereum's market dynamics and resilience to fraud and manipulation, supporting the case for an Ethereum ETF.