Weekly Market Index

Last week’s crypto market prices rose slightly by +1.81%. Volume and volatility also increased by +1.71% and +91.63%, respectively.

Chart of the Week

The recently released “Economic Well-Being of U.S. Households in 2022” report by the US Federal Reserve showed that out of those who used cryptocurrency to make financial transactions, the three most cited reasons for doing so were to send the money faster, the receiver preferred cryptocurrency, and privacy. 

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) were both up at +5.9% and +6.8%, respectively, in the past seven days. Other selected top-cap tokens also mostly rose.

Key categories were up in the past seven days, with Artificial Intelligence the best performer.

News Highlights

• China’s Beijing municipal government has unveiled a white paper to foster innovation and advance the Web3 industry. The “Web3 Innovation and Development White Paper” recognises Web3 technology as an “inevitable trend for future Internet industry development.“ 

• Hong Kong's Securities and Futures Commission (SFC)  has agreed to allow licensed virtual asset providers to serve retail investors. The regulator will begin accepting applications for crypto trading platform licenses on June 1. 

• The Central Bank of Brazil selected 14 institutions to participate in the pilot of the digital real, the country’s central bank digital currency (CBDC). Participants include major local private banks such as Bradesco, Nubank, and Itaú Unibanco, as well as the largest public Brazilian bank, Banco do Brasil, and the local stock exchange B3. Multinational companies such as Visa and Microsoft were also chosen to participate.

Recent Research Reports

• Research Roundup Newsletter [April 2023]: In this issue we feature trending market insights, and our latest research reports take a closer look into Bitcoin’s expanding ecosystem specifically Layer 2s, DeFi, and NFTs. 

• Bitcoin’s Expanding Ecosystem: Layer-2, DeFi, NFT: The landscape of the latest projects building on top of Bitcoin is expanding beyond payments and includes Layer-2 scaling solutions and key application categories like DeFi and NFT.

• Alpha Navigator: Quest for Alpha [April 2023]: Asset classes were generally flat in April, with crypto outperforming. US Federal Reserve could be on the cusp of ending rate hike cycle.

Recent University Articles

• A Short History of Bitcoin Price: The price of BTC has experienced peaks and valleys ever since it launched in 2009. Learn all about Bitcoin's price history.

• What Are ERC-20 Tokens? All About Ethereum’s Most Important Token Standard: ERC-20 is a token standard for fungible tokens on Ethereum. Learn what it is and how cryptocurrencies can be minted with it.

• How to Buy Bitcoin and Other Cryptocurrencies: Wondering how to buy your first Bitcoin? Or cryptocurrency in general? Here's a step-by-step guide on crypto buying for beginners.

Catalyst Calendar

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