Weekly Market Index

Last week’s crypto market prices were flat at -0.97%. Volume dropped slightly by -1.79% and volatility increased by +50.83%.

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) were down -3.2% and -0.5%in the past seven days, respectively.Shiba Inu (SHIB) was the top performer among selected top-cap tokens. The team behind Shiba Inu recently announced the upcoming beta release of Shibarium, a layer-2 network that will operate on top of Ethereum.

News Highlights

• Blockchain startup accelerator Cronos Labs announced the opening of applications for its second cohort of the US$100 million-backed Cronos Accelerator Program. The program aims to provide selected projects with upfront seed funding of US$30,000 in addition to mentoring, masterclasses, and support from industry experts.

• The U.S. Federal Reserve raised target interest rates by 0.25% to the 4.50% to 4.75% range, in line with market expectations.

• Indonesia’s Ministry of Trade is reportedly aiming to roll out a national crypto exchange by June this year. This exchange would act as a clearing house and custodian in the local crypto market.

• Ethereum developers opened a new test network called “Zhejiang,” where users can start testing staked ether withdrawals, which will be included in the protocol’s upcoming “Shanghai” upgrade.

• Twitter has started applying for licenses in the United States to allow the social media giant to support digital payments. Currently, the main focus revolves around enabling fiat payments, although anticipation for crypto functionality is building.

Recent Research Reports

• AI-Generated Content and Applications in Web3: Artificial Intelligence-Generated Content (AIGC) has taken the world by storm recently, with popular applications like ChatGPT and DALL-E. We analyse its potential applications in Web3.

• Crypto Market Sizing Report: Global crypto owners reached 425 million by the end of 2022. Bitcoin and Ethereum owners grew by 20% and 263%, respectively.

• 2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023.

Catalyst Calendar

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