Crypto Market Pulse Weekly - 🚀 Ethereum Dencun Upgrade Went Live!
Crypto Market Pulse Weekly - 🚀 Ethereum Dencun Upgrade Went Live!Ethereum Dencun upgrade went live. VanEck temporarily removes management Bitcoin ETF HODL. CoinShares acquires Valkyrie’s ETFs business.Weekly Market IndexLast week’s crypto market price index dropped by -1.75%, while the volume and volatility indices were up +1.32% and +7.76%, respectively. Bitcoin rose to a new all-time high of US$73,777 last week, but shortly dropped to near $64,500. Ether also dropped from $4,000 to $3,600. The release of higher-than-expected wholesale price data in the United States led to a shift in expectations regarding potential cuts in interest rates by the Federal Reserve. This has resulted in an increase in interest rates and a decline in the prices of risky assets. Chart of the WeekThe much-anticipated Ethereum Dencun upgrade was successfully activated on 13 March with one of the most anticipated Ethereum Improvement Proposals (EIPs), EIP-4844, that introduced ‘data blobs’. These data blobs bypass the traditional ‘call data’ process to publish information on the Ethereum mainnet, providing lower transaction fees in Ethereum Layer-2 (L2) networks. Subsequently, Ethereum L2 protocols have experienced a significant reduction in transaction fees, with some platforms seeing over a 90% decrease following the upgrade. Notably, Arbitrum, Optimism, zkSync, Base, Starknet, and other L2 platforms witnessed substantial drops in gas fees post-upgrade, with Optimism's median transaction fees decreasing to the range of $0.005 (from ~$0.44) and Arbitrum’s fees to $0.05 (from ~$0.41). Weekly PerformanceBitcoin (BTC) and Ether (ETH) fell by -1.2% and -7.2%, respectively, in the past seven days. Price action for other selected top-cap tokens was mostly negative. Layer-1 coins NEAR and SOL outperformed. Selected key categories all fell in terms of market capitalisation change in the past seven days, led by Layer-2. News Highlights
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Catalyst CalendarWe’re all ears.Your feedback helps make our reporting more insightful. Tell us how we can improve this newsletter by taking the survey below. It will take less than a minute of your time. Thank you! AuthorResearch and Insights Team 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! Crypto Trends from Crypto.com: Market, DeFi, NFT, Gaming is free today. But if you enjoyed this post, you can tell Crypto Trends from Crypto.com: Market, DeFi, NFT, Gaming that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. |
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NFT & Blockchain Gaming Weekly - 📈 Loaded Lions Holders Receive Exclusive Benefits in Rewards+
Friday, March 15, 2024
Loaded Lions NFT holders receive exclusive Rewards+ benefits. Heroes of Mavia reaches three million global downloads. NFT market experiences a downtrend in the past week. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly - 💫 Community Gears Up For Ethereum Dencun Upgrade
Wednesday, March 13, 2024
Community gears up for Ethereum Dencun upgrade. BRC-20 creator Domo addresses governance issues with UniSat partnership. Goldman Sachs, BNY Mellon, and others test Canton Network for tokenised assets.
Crypto Market Pulse Weekly - 📈 BTC Reached New ATH $71,000 and ETH Retook $4,000
Monday, March 11, 2024
BTC reached a new ATH of $71000 and ETH retook $4000. Crypto.com partners with Altava Group to expand the Web3 ecosystem. BlackRock plans to acquire spot Bitcoin ETPs for its Global Allocation Fund. ͏
NFT & Blockchain Gaming Weekly - 📈 The NFT market surged by 18% in sales volume
Friday, March 8, 2024
Ethereum NFTs sales volume saw 46% surge. CryptoPunk #3100 sold for $16M, the 2nd highest for this collection. Popular music festival Coachella partners with OpenSea via NFTs ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly - 💰Tether Launches Recovery Tool as USDT Hits $100B
Wednesday, March 6, 2024
Tether unveils recovery tool as USDT hits $100B in market cap. Blast officially launches its mainnet, TVL soars to $320B. Following Circle STARKs launch, StarkWare debuts new ZK prover Stwo. ͏ ͏ ͏
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