Weekly Market Index

Last week’s crypto market prices were up +8.27%. Volume and volatility increased by +50.20% and +20.13%, respectively.

Chart of the Week

Bitcoin continues to extend its gains and last week crossed US$1 trillion in market cap, for the first time since 2021. With over US$1 trillion in market cap, Bitcoin makes it into the trillion dollar club within a list of the top ten US companies by market cap, joining the likes of Microsoft and Apple.

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) rose by +7.1% and +14.1%, respectively, in the past seven days. Price action for other selected top-cap tokens was also mostly positive.

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

News Highlights

• Venture funding for crypto-related companies in the fourth quarter of 2023 reportedly totaled $1.9 billion, a 2.5% increase from the prior quarter. It marks the first time that venture investments in crypto startups have risen since the March quarter of 2022.

• Citibank worked with WisdomTree and Wellington Management using Layer-1 blockchain Avalanche’s Spruce Subnet to explore the tokenisation of private equity funds.

• Spanish telecommunications company Telefonica announced a strategic alliance with Chainlink Labs to integrate real-world telecommunications capabilities into blockchain networks for improved security.

Recent Research Reports

• Alpha Navigator [January 2024]: Fed signals rate cut in March unlikely. Asset class performance was mixed in January, with crypto and equities up slightly.

• Research Roundup Newsletter [January 2024]: We present to you our latest issue of Research Roundup, featuring trending market insights in January, charts of the month, and our deep dive into the world of crypto ETFs.

• Crypto ETFs: This report explores what crypto ETFs are, providing an overview of the current crypto ETF market and looking into how they work as investment vehicles. Plus, we explore their features, advantages and significance, and drawbacks.

Recent University Articles

• What Is NEAR Protocol (NEAR)? How It Works and How to Buy NEAR: NEAR protocol is designed to incentivise a network of computers to operate a platform for decentralised applications, utilising sharding for more efficient data retrieval and scaling.

• What Is Bitcoin (BTC) Dominance?: In this beginner’s guide, learn the ins and outs of BTC dominance — what it means, and what happens when BTC dominance goes up or drops.

• Crypto Market Makers vs Market Takers — What They Are and How They Influence: Crypto market makers provide liquidity by placing buy and sell orders, while market takers seek immediate execution of their orders. Here’s how they interact with each other.

Catalyst Calendar

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Research and Insights Team

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