Weekly Market Index

Last week’s crypto market prices rose slightly by +1.01%. Volume and volatility also increased by +16.35% and +24.01%, respectively.

Chart of the Week

Historically, the Bitcoin price has performed positively in October, with only two down instances in the past decade. This has prompted some in the crypto community to dub the month “Uptober”. The moniker appears to be living up to its name, as Bitcoin is up +3.2% so far this month.

Weekly Performance

Bitcoin (BTC) was flat at +0.3% while Ethereum (ETH) dropped -5.2%, in the past seven days. Price action for other selected top-cap tokens was mainly negative.

Selected key categories were down in terms of market cap, with the exception of Artificial Intelligence, in the past seven days.

News Highlights

• Hong Kong Stock Exchange is launching a novel equities settlement acceleration platform. Dubbed “Synapse,” the platform will utilise smart contracts in the DAML programming language to streamline post-trade flows and enhance operational efficiencies.

• The Bank of Korea and the Bank for International Settlements (BIS) announced a new pilot that will test the functionality of a Korean wholesale central bank digital currency (CBDC), which will serve as a tool for banks to settle interbank transactions and issue CBDC-backed digital currencies that can be fractionally backed depending on the case.

• JPMorgan’s digital assets and blockchain platform, Onyx, is processing up to US$2 billion daily. Users are mainly utilising its platform for tokenisation purposes, with the likes of Goldman Sachs and BNP Paribas among the early adopters. The platform has already tokenised a variety of assets including US treasury bonds, mortgage-backed securities, and cash using the JPM coin.

Recent Research Reports

• Research Roundup Newsletter [September 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in September, charts of the month, and our insights on the Ethereum Dencun upgrade.

• Ethereum: Dencun Upgrade and Proto-Danksharding: Ethereum’s next major upgrade is Dencun, which introduces Proto-Danksharding. We explore what it is and its benefits.

• Alpha Navigator: Quest for Alpha [September 2023]: Risk assets end 3Q 2023 mostly down on a QoQ basis, but YTD paints a more positive picture. Inflation retreats. US avoids a government shutdown.

Recent University Articles

• What Is Bitcoin Cash?: Learn about Bitcoin Cash, the 2017 hard fork from the original Bitcoin blockchain, and how this alternative measures up to BTC.

• Recruitment Scams - How to Know if a Job Offer Is Fake: Received a job offer out of the blue that sounds too good to be true? It might be a recruitment scam. In this article, learn all about fake job offers in the crypto space and how to recognise them.

• What Is Cryptojacking and How to Recognise It: Follow these essential steps to minimise the risk of falling victim to the silent threat of cryptojacking.

Disclaimer:

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