Weekly Market Index

Last week’s crypto market prices rose by +11.07%. Volume increased by +50.46% and volatility decreased by -17.86%.

Chart of the Week

Bitcoin futures open interest has reached a new high for the year at US$4.87B (as of 10 Dec 2023) on the Chicago Mercantile Exchange (CME). Open interest is the total number of outstanding contracts for a particular asset that has not been settled. It is commonly used as an indication of whether money flows are increasing or decreasing.

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) rose by +4.8% and +4.0%, respectively, in the past seven days. Price action for other selected top-cap tokens was also mostly positive, with AVAX leading.

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

News Highlights

• Crypto.com has been authorised as an Electronic Money Institution (EMI) by the UK’s Financial Conduct Authority (FCA). With this EMI authorisation, Crypto.com will offer a suite of UK-localised e-money products.

• Bitcoin Core version 26.0 was released last week. This latest update to the primary software used by nodes to interact with the Bitcoin network introduces key enhancements aimed at improving security and network performance.

• Societe Generale issued its first digital green bond on the Ethereum blockchain. The bond has a value of 10 million euros and a maturity of three years. Its proceeds will be used to finance “green” activities. The bank also launched its euro-pegged stablecoin, EURCV, on a crypto exchange.

• Brazilian bank Itau Unibanco has reportedly launched a Bitcoin and Ether trading service for its clients as part of its investment platform. 

Recent Research Reports

• Alpha Navigator: Quest for Alpha [November 2023]: Peak rates hopes are growing following recent US and Europe economic releases. Risk assets were mostly up in November, led by ETH.

• Issuing Tokens on the Bitcoin Network: Explore the latest innovations in token issuance on the Bitcoin Network. We look at BRC-20, Atomicals, Taproot Assets and Nostr Assets.

• 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.

Recent University Articles

• What Is Aptos (APT)?: In this article, we discover how Aptos is designed to tackle blockchain’s challenges and make it scalable, safe, and cost-efficient.

• Data Tokenisation: What It Is and Why It Matters for Crypto: Learn all about data tokenisation, how it works on the blockchain, and its application in crypto and other industries.

• Bitcoin Spot vs Futures ETFs Explained: Learn the difference between BTC spot vs futures ETFs — and why the Bitcoin spot ETFs haven’t yet been approved by the SEC.

Catalyst Calendar

Disclaimer:

The 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.

Thank you for reading! We hope you find Market Pulse, our new weekly market insights newsletter 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!

Share