Weekly Market Index

Last week’s crypto market prices rose by +8.55%. Volume and volatility increased by +33.75% and +188.73%, respectively.

Chart of the Week

ETH and BTC prices have surged to new yearly highs. Following the recent positive developments in BTC spot exchange-traded funds (ETFs), news has emerged about a Nasdaq filing regarding BlackRock’s plan to create a spot ETH ETF. Earlier, it also emerged that the corporate entity "iShares Ethereum Trust" had been registered in the state of Delaware; iShares is the name of BlackRock's ETF division.

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) rose by +6.2% and +9.0%, respectively, in the past seven days. Other selected top-cap tokens also mostly gained in price.

Selected key categories all increased in terms of market cap, in the past seven days.

News Highlights

• HSBC is set to introduce digital asset custody services for tokenised securities such as bonds on the blockchain. The bank expects to go live with the service in 2024.

• UBS' wealthy clients can now trade three crypto exchange-traded funds (ETFs) through the bank's Hong Kong platform. The ETFs are Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures ETFs. Together, the three products boast assets worth around US$72 million.

• JPMorgan has rolled out a programmable payment feature for institutional users of its private blockchain platform, JPM Coin, touting its offering as a “first-of-its-kind” by a global commercial bank. The solution caters to blockchain-based accounts on the JPM Coin System, allowing users to program payments using an “If-This-Then-That” interface.

• Deutsche Börse, owner of the Frankfurt Stock Exchange, says it will accelerate the development of its blockchain-backed D7 digital securities registry and build a trading platform for digital assets.

• Circle, the issuer of the USDC stablecoin, is reportedly considering an initial public offering in 2024.

• Cryptocurrency exchange Poloniex has had its hot wallets drained by hackers with an estimated loss of around US$114 million.

Recent Research Reports

• Friend.Tech: Explore what friend.tech is, its success factors and criticisms, and some of the competing platforms that have emerged.

• Research Roundup Newsletter [October 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in October, charts of the month, and our insights on friend.tech and SocialFi trends.

• Alpha Navigator: Quest for Alpha [October 2023]: US Federal Reserve holds steady on interest rates. BTC starts 4Q strong, outperforming other asset classes.

Recent University Articles

• What Is Uniswap (UNI)?: Learn about Uniswap, an exchange on the Ethereum blockchain that uses the Automated Market Maker model and liquidity pools for decentralised trading.

• Proof of Work vs Proof of Stake: Ever wonder what the difference between a PoS and PoW network is? Learn about the two most popular consensus mechanisms and how they work.

• What Is Bitcoin Dominance?: In this beginner’s guide, learn the ins and outs of Bitcoin dominance — how it’s measured and how to use it in trading.

Catalyst Calendar

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