Weekly Market Index

Last week’s crypto market prices were up significantly at +30.31%. Volume and volatility also increased significantly by +58.83%and +133.99%, respectively.

Weekly Performance

Bitcoin (BTC) surged +25.6% and Ethereum (ETH) rose by +12.1% in the past seven days. Other selected top-cap tokens also mostly rallied.

News Highlights

• Crypto.com received its MVP Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA). Once licensed to be operational, Crypto.com will be able to extend its approved suite of duly regulated virtual assets activities spanning a range of crypto exchange services (spot and derivatives), brokerage, margin/leverage trading, and OTC offerings around settlements for institutional investors. 

• The US Federal Reserve will raise interest rates by 25 basis points on March 22 despite recent banking sector turmoil, according to a strong majority of economists polled by Reuters. In other macro related news, UBS agreed to buy Credit Suisse for US$3.2 billion, with Swiss regulators playing a key part in the deal as governments looked to stem a contagion threatening the global banking system.

• Ethereum developers set a target date of 12 April for the Shanghai upgrade, which will enable staked ETH withdrawals.

• Microsoft is reportedly working on integrating a crypto and non-fungible token (NFT) friendly Web3 wallet into its Edge browser.

Recent Research Reports

• Research Roundup Newsletter [February 2023]: In our latest issue, we feature trending market insights and our analyses of the current state of decentralised derivatives market.

• Overview of Decentralised Derivatives: Crypto derivatives dominate the market today, representing about 70% of the entire crypto market. In this report, we shed light on derivatives in DeFi, their market overview, and some innovations in the space.

• Alpha Navigator: Quest for Alpha [February 2023]: Asset classes took a breather in February and sold off, although crypto bucked the trend. BTC and ETH options implied volatilities remain at subdued levels.

Catalyst Calendar

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