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This Week in Coins: Bitcoin Barely Budges, But Render and SHIB Surge


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This week in coins. Illustration by Mitchell Preffer for Decrypt.

After briefly dipping last week, Bitcoin and Ethereum continued their steady 2023 growth with modest gains this week. All the while, however, several other leading cryptocurrencies posted sizable rallies. 

Bitcoin (BTC) added just over 1% to its value over the last seven days, currently trading just above $23,400. Bitcoin mining difficulty hit a new all-time high this week as miners continue to deploy more hardware to mine the largest cryptocurrency by market cap, despite the sector being hit by mounting energy prices and a recent spate of bankruptcies.

The price of stock for Bitcoin-exposed cloud software company MicroStrategy has risen nearly 100% since the start of 2023 and rallied 12% over five days this week. MicroStrategy chairman Michael Saylor is a huge Bitcoin bull and has filled the company war chest with 132,500 BTC—worth over $3.1 billion today.

Ethereum (ETH) rose 5% and currently trades at about $1,680, according to data from CoinGecko. The network on Wednesday tested the withdrawals feature of its…

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