Weekly Market Index

Last week’s crypto market prices rose slightly by +2.65%. Volume decreased by -16.32% while volatility increased by +39.14%.

Chart of the Week

The governing body of Cosmos Hub has endorsed a proposal to decrease the maximum inflation rate of its native token, Cosmos, from 14% to 10%. According to the proposal, the authorised modification would reduce ATOM’s annualised staking yield. The Cosmos Hub is the primary blockchain within the Cosmos network, a system of interlinked blockchains. The ATOM token is employed for staking, governance and transaction fees. A snapshot of the current staking average reward rates, staking market caps, and staking ratios for top blockchains is shown below.

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) rose slightly by +0.6% and +2.9%, respectively, in the past seven days. Price action for other selected top-cap tokens was mixed, with UNI leading.

Selected key categories were mostly up in terms of market cap change in the past seven days, led by Gaming.

News Highlights

• Grayscale Investments reportedly recently held a meeting with the US Securities and Exchange Commission (SEC) to discuss potential matters related to the conversion of the Grayscale Bitcoin Trust (GBTC) product into a spot Bitcoin exchange-traded-fund (ETF).

• South Korea will start a pilot for a central bank digital currency (CBDC) involving citizens in the fourth quarter of next year. The project will see 100,000 people be able to purchase goods with tokens issued by commercial banks in the form of a CBDC.

• Santander Private Banking International, part of Spanish financial services giant Banco Santander, is reportedly offering high-net-worth clients with Swiss accounts trading and investing in the major cryptocurrencies Bitcoin and Ether.

• Austria’s Raiffeisen Bank will roll out cryptocurrency trading services to retail customers by the end of January 2024.

Recent Research Reports

• 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.

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

• 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

• The Maker (MKR) Governance Token: How It Works and How To Get It: Here’s how MKR — MakerDAO’s governance and utility token — works and what rights holders have.

• Liquid Staking With the Lido (LDO) Token: The Lido token was conceived to make liquid staking easier and more accessible to crypto users. Here’s how it works.

• What Is Unibot (UNIBOT)?: In this article, we focus on a Telegram trading bot called Unibot, covering how Telegram users can trade cryptocurrencies through it.

Catalyst Calendar

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