Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 22,25/05/2023 - 31/05/2023)
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 22,25/05/2023 - 31/05/2023)Ethereum surpasses US$40B in deposit contract balance. New token standard BRC-721E bridges Ethereum NFTs to the Bitcoin blockchain. Tether invests in sustainable Bitcoin mining in Uruguay.
Weekly DeFi IndexThis week's market cap, volume, and volatility indices were positive at+0.37,+0.86, and+75.98, respectively. Chart of the WeekDOGE saw a significant surge in network activity, as its daily transactions increased from an average of 20,000 in early May to hitting the 2 million mark in the past week. Compared to other networks, Dogecoin processed more transactions than Ethereum (~1.9 million) and Bitcoin (less than 1 million) between 27 and 28 May. This increase also coincided with a jump in hashrate, up 38% in May, suggesting an increasing number of miners on the network. News Highlights
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DisclaimerThe information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.The brands and the logos appearing in this report are registered trademarks of their respective owners.We’re all ears.Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you! Thank you for reading! We hope you find our Weekly DeFi and Layer 1 & Layer 2 News Update enlightening! Hungry for more? Visit our Research Hub and University to access other insightful crypto research! Share with a friend if you like our email! |
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Market Pulse by the Crypto.com Research & Insights Team (Week 22, 23/05/2023 – 29/05/2023)
Monday, May 29, 2023
Crypto being used to send money faster, according to Federal Reserve report. Beijing released a whitepaper to advance Web3 industry. Hong Kong to allow retail investors to trade crypto.
Weekly NFT & GameFi Update (Week 21, 20/05/2023 - 26/05/2023)
Friday, May 26, 2023
Cronos Labs to launch Seoul Web 3.0 Festival 2023. Bitcoin becomes the second-most popular NFT blockchain. Brave browser introduces NFT-gated video calls.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 21,18/05/2023 - 24/05/2023)
Wednesday, May 24, 2023
Crypto.com introduces an enhanced Pay experience in DeFi Wallet. Cronos Labs partners with Seoul for the Seoul Web 3.0 Festival 2023 #SWF2023. Uniswap V3 to launch on Polkadot via Moonbeam Parachain.
Market Pulse by the Crypto.com Research & Insights Team (Week 21, 16/05/2023 – 22/05/2023)
Monday, May 22, 2023
Trading volume of meme coins surges. Visa experiments with smart contracts on #Ethereum Goerli testnet. Tether plans to use profits to buy $BTC for stablecoin reserves.
Weekly NFT & GameFi Update (Week 20, 13/05/2023 - 19/05/2023)
Friday, May 19, 2023
Pepe-themed 'Bitcoin Frogs' NFTs gain popularity amid Ordinals hype. Epic Games and LEGO Group collaborate to build metaverse. Ubisoft is creating an NFT collection for Assassin's Creed.
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