Crypto Market Pulse Weekly - 🇦🇪 Crypto.com Dubai Receives Operational Approval; Bitcoin Dominance Reaches 3-Year…
Crypto Market Pulse Weekly - 🇦🇪 Crypto.com Dubai Receives Operational Approval; Bitcoin Dominance Reaches 3-Year HighCrypto.com’s Dubai entity receives operational approval. Bitcoin dominance reaches 3-year high. Hong Kong approves BTC and ETH spot ETFs.
Weekly Market IndexLast week’s crypto market price index dropped by -3.01%. Volume and volatility indices showed a slight increase by +0.44% and +0.05%, respectively. Bitcoin’s (BTC) price fluctuated between US$65,000 and US$70,000 through the week and settled at close to US$70,000 on 7 April 2024. US Spot Bitcoin ETFs had a week of net inflows totalling US$485 million, lower than the US$845 million net inflow in the previous week. Grayscale Bitcoin Trust ETF’s (GBTC) weekly net outflow slowed down to US$738 million last week (vs US$967 million the week prior).
Chart of the WeekBitcoin (BTC) dominance reached a 3-year high of 55% on 14 April, based on weekly data from CoinMarketCap. On the day, BTC’s price was near $64,000 after reports of escalating political tension in the Middle East. Prices for most large-cap altcoins decreased more significantly towards the end of last week, causing Bitcoin dominance to increase. The last time Bitcoin dominance was at this level was on 11 April, 2021 when Bitcoin price was near $60,000. Weekly PerformanceBTC and Ether (ETH) fell by -5.7% and -8.1% respectively in the past seven days. The price action for all other selected top market cap tokens was also negative. All of the selected key categories were down in terms of market capitalisation changes in the past seven days. Layer-1 category experienced the smallest drop. 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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DeFi & L1L2 Weekly – 📈 Ethena Increases Staking Rewards, Boosts USDe with Bitcoin; ENA Jumps 19%
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Ethena increases staking rewards by 50%, boosts USDe with Bitcoin; ENA jumps 19%. EigenLayer launches on Ethereum mainnet. Lido market share dips below 30% amid centralisation concerns. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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Friday, April 5, 2024
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DeFi & L1L2 Weekly – 🪙 Fetch.ai, SingularityNET, Ocean Protocol to Merge Into ‘Artificial Superintelligence’ Toke…
Wednesday, April 3, 2024
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