Crypto Markets See Mixed Results as Dogecoin Surges

Dogecoin led the major cryptocurrencies on Wednesday, rising almost 3% to just above 7 cents and taking its weekly gain to nearly 3%. Bitcoin slipped near $63,700 and was the only large token lower on both the day and the week.

BNB followed with a 2% gain to $614, up almost 2% over seven days. Tron rose almost 1% to just under 34 cents and leads its own week at over 2%. XRP added over half a percent to just above $1, though it remains down 5% on the week, the worst weekly performance among the majors.

According to Jeff Mei, chief operating officer at BTSE, the direction of the market for the rest of the week rests on the inflation print and whether Iran and the U.S. reach a deal over the Strait of Hormuz.