Crypto Market Pulse Weekly – ₿ Bitcoin Hits Record Daily Number of Transactions
Crypto Market Pulse Weekly – ₿ Bitcoin Hits Record Daily Number of Transactions$BTC hits record daily number of transactions. Spot $BTC and $ETH ETFs to start trading in Hong Kong on 30 April. Franklin Templeton listed its Spot Ether ETF on US DTCC.
Weekly Market IndexAll three crypto market indices dropped last week. Price index dropped slightly by -0.69%, while volume and volatility indices decreased more drastically by -33.04% and -44.54%, respectively. Bitcoin (BTC) fluctuated around the US$67,000 level mid-week before dropping to settle at the $63,500 level over the weekend. This coincided with the US announcing Q1 GDP growth of 1.6% QoQ, well below market expectations. At the same time, the core personal consumption expenditures price index (core PCE), which is often an inflation gauge, rose 3.7% in Q1, above the Fed’s 2% target. Ethereum (ETH) increased to $3,300 level over the weekend, which coincided with reports on Franklin Templeton’s ETH spot ETF emerging on the US Depository Trust and Clearing Corporation list. US Spot Bitcoin ETFs had a week of net outflow totalling US$328 million, topping last week’s $204 million net outflow. Grayscale Bitcoin Trust ETF’s (GBTC) weekly net outflow settled at $454 million last week, similar to a net outflow of $458 million the prior week. Chart of the WeekBitcoin hits a daily record number of transactions of 927,010 on 23 April, three days after the fourth Bitcoin halving. The previous peak was in December 2023 when the number of transactions hit 730,000. This is attributed to the Runes protocol, which accounted for 81% of the transactions on 23 April, and a total of 57% of all Bitcoin transactions since its launch. Weekly PerformanceBTC fell slightly by -1.6% while ETH increased by +5.0% in the past seven days. The price action for other selected top market cap tokens was mostly negative. ICP led the drop while OP led the gains. All selected key categories were down in terms of market capitalisation in the past seven days, with gaming leading the 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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NFT & Blockchain Gaming Weekly - 📈 Runes Dominated BTC Transactions Post-Halving
Friday, April 26, 2024
Runes Dominated BTC Transactions Post-Halving. Telegram to tokenise stickers & emojis as NFTs. ApeCoin price drops 66% amid BAYC decline. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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Bitcoin completed the fourth halving on 20 April. Runes protocol launched on Bitcoin causing record fees. $7.5bn. SingularityNet, Fetch.ai, and Ocean Protocol AI merger approved. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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Bored Ape Yacht Club NFT floor price hits 2.5-year low. STEPN partners with Adidas to launch a limited-edition sneakers NFT collection. MetaMask enables eligibility checking of NFT airdrops. ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly - 💱 Ondo Finance Successfully Tests Near-Instant Conversion Between USDC and BUIDL
Wednesday, April 17, 2024
Ondo Finance tests instant conversion between BlackRock's BUIDL and USDC. Ethereum's Pectra upgrade to introduce smart contract functionality to wallets. EigenLayer removes staking caps on LSTs
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