Weekly Market Index

Last week’s crypto market prices rose slightly by +1.16%. Volume increased by +7.80% while volatility dropped by -31.34%.

Chart of the Week

In our latest feature report, we explore the world of memes, which in crypto are mainly represented by meme coins and NFTs. We found that meme coins can have a meteoric rise in price during the run-up phase, followed by a descent that is just as rapid. However, meme coins with larger market cap such as DOGE tend to be more resilient, with prices generally taking more days to decline. Check out the full report: “The Evolution of Memes and What Makes Them Successful.”

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) were both down at -4.0% and -1.7%, respectively, in the past seven days. Other selected top-cap tokens also mostly fell.

Key categories also fell slightly in the past seven days.

Selected Categories Market Cap Change

News Highlights

• Crypto.com announced it has received its Major Payment Institution licence for Digital Payment Token (DPT) services from the Monetary Authority of Singapore. With this licence, the company can continue to extend its DPT services to customers in Singapore. 

• The European Union formally signed its landmark Markets in Crypto Assets (MiCA) regulation into law, taking the bloc closer to becoming the first major jurisdiction in the world with tailored rules for the sector. 

• Mitsubishi UFJ Financial Group (MUFG) announced its stablecoin issuance platform “Progmat Coin” will soon be used by banks in Japan to launch Japanese yen-pegged stablecoins on several public blockchains.

• Germany’s Deutsche Telekom is set to become a validator for Ethereum layer-2 scaling platform Polygon, becoming one of 100 validators providing staking and validation services for the network and Polygon’s Supernets solution.

Recent Research Reports

• The Evolution of Memes and What Makes Them Successful: What are memes, how have they evolved, and what makes them successful? We also explore the role they play in crypto and Web3, and what the future holds for memes

• 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.

Recent University Articles

• What Is Cryptocurrency?: Still wondering what cryptocurrency actually is, how it works, and how to use it? We’ve got the answers in this crypto beginner’s guide.

• 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.

• 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

Disclaimer:

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