Telcoin Soars 108% on Banking Charter Approval; Weekly Crypto Market Sees Volatile Swings

The cryptocurrency market experienced significant volatility this week, with Bitcoin [BTC] dropping below the $95,000 mark, marking one of its worst performances in months. Institutional outflows surged, and long-term holders began selling, raising concerns about market sustainability. Despite the broader downturn, several altcoins posted impressive gains, led by Telcoin [TEL], which rallied 108% after securing a banking charter from the Nebraska Department of Banking and Finance. This approval allows Telcoin to operate digital-asset and stablecoin services, including deposits and loans denominated in its eUSD stablecoin, accessed through decentralized finance applications.

Other notable winners included Starknet [STRK], which gained 50% and broke key resistance levels, and Decred [DCR], which saw a surge on renewed market hype. On the losing side, Internet Computer [ICP] fell 30%, reflecting a cooldown after last week's 72% rally, while Canton [CC] dropped due to increased selling pressure and rising open interest, and Filecoin [FIL] declined 25% as traders locked in gains. Technical indicators suggest potential consolidation or further moves depending on buyer support.