Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 20,11/05/2023 - 17/05/2023)
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 20,11/05/2023 - 17/05/2023)ETH’s Beacon chain experienced two finality issues within 24 hours. Circle rebalanced its Treasury holdings, citing US debt default risk. Optimism’s latest major upgrade, Bedrock, is set for 6 June.Chart of the WeekThe BRC-20 token standard, powered by the Ordinals protocol, has enabled developers to create and transfer fungible tokens on the Bitcoin blockchain. This development has expanded the network’s capabilities and possibilities, but the recent surge in transaction volume from BRC-20 has led to higher fees and network congestion. After the public’s interest surrounding BRC-20 brought Bitcoin’s network fees to its highest level since May 2021, the fees are now returning to normal levels. Weekly DeFi IndexThis week's market cap index was positive at +3.04%, while volume and volatility indices were negative at -10.58% and -29.99%, respectively.
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Market Pulse by the Crypto.com Research & Insights Team (Week 20, 09/05/2023 – 15/05/2023)
Monday, May 15, 2023
US inflation indicator CPI rose 4.9% YoY in April. Microsoft, Goldman Sachs, and more are developing a blockchain called Canton. New survey finds 26% of family offices are invested in crypto.
Weekly NFT & GameFi Update (Week 19, 05/05/2023 - 12/05/2023)
Friday, May 12, 2023
Elon Musk tweets meme from 'Milady' NFT collection. The market cap of BRC-20 Bitcoin tokens surpassed US$1 billion. The government of Turkey launches a virtual office in the metaverse.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 19,04/05/2023 - 10/05/2023)
Friday, May 12, 2023
Bitcoin transaction fees surpass block subsidy for miners. MakerDAO launches Spark Protocol, a DeFi lending solution for $DAI users. SushiSwap rolls out v3 liquidity pools across 13 networks.
Market Pulse by the Crypto.com Research & Insights Team (Week 19, 03/05/2023 – 08/05/2023)
Monday, May 8, 2023
Crypto.com launches artificial intelligence chatbot, Amy. US Federal Reserve raises rates by 25 bps. Kingdom of Bhutan is running $BTC mining operations.
Weekly NFT & GameFi Update (Week 18, 29/04/2023 - 05/05/2023)
Friday, May 5, 2023
Auction house Sotheby's launches secondary NFT marketplace. Blur launches NFT lending protocol, Blend. Sports Illustrated launches NFT ticketing platform on Polygon.
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