📉 Bitcoin miner reserves drop to three-year low; Standard Chartered is establishing a spot trading desk for BTC a…
📉 Bitcoin miner reserves drop to three-year low; Standard Chartered is establishing a spot trading desk for BTC and ETHBitcoin miner reserves drop to three-year low; Standard Chartered is establishing a spot trading desk for BTC and ETH; Asset managers revised S-1 filings on U.S. Spot Ether ETF applications.
Quick Take
Weekly Market IndexAll three indices dropped last week. Price and volume indices decreased by -3.92% and -3.22% last week, while volatility index decreased more significantly by -67.18% . Volatility changes were led by BTC (-70.67%), which coincided with reports on the German government selling off US$325 million BTC over two days. Chart of the WeekBitcoin miner reserves dropped to a three-year low of 1.8 million BTC as of 23 June, 2024. Miner reserves represent the amount of BTC held by miner wallets, or in other words, the reserves that miners can sell. A drop in miner reserves is usually associated with price drop as it represents heightened selling activities. Although BTC miner reserves have dropped, the USD value of miner reserves are still at $115 billion compared to $63 billion three years ago, due to BTC’s recent price appreciation. Weekly PerformanceBTC and ETH decreased by -5.2% and -5.3%, respectively, in the past seven days. The price action for all selected top market cap tokens was negative, INJ (-18.5%) led the drop. Selected key categories were all down in terms of market capitalisation changes in the past seven days, with the meme category leading the drop. Notable Token UpdatesNews 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 - 📈 📈 Bitcoin surpassed Ronin in all-time NFT sales; Loaded Lions: Mane City Mayh…
Friday, June 21, 2024
Bitcoin-based NFTs surpassed the gaming blockchain Ronin in all-time NFT sales. Ronin to integrate zkEVM for scalability. Doodles migrates Stoodio avatar customisation platform to Base. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
📉 CRV dipped to all-time low; Tether announced new stablecoin aUSDT
Wednesday, June 19, 2024
$CRV dips to all-time low due to its founder's massive liquidations. Tether releases new stablecoin aUSDT backed by its XAUT. Ronin announces its zkEVM chain built on top of Polygon CDK. ͏ ͏ ͏ ͏ ͏
🏛️BTC and ETH balances on centralised exchanges saw a 3-year low; SEC Chairman sees U.S. Spot Ether ETF S-1 appro…
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BTC and ETH balances on centralised exchanges saw a three-year low; SEC Chairman sees US Spot Ether ETF S-1 approvals in summer 2024; Australian Securities Exchange approved first spot Bitcoin ETF ͏ ͏
NFT & Gaming Weekly – 📈Telegram Tap-to-Earn Games Boost TON Transactions
Friday, June 14, 2024
Telegram tap-to-earn games boost The Open Network (TON) transactions. Uniswap Labs acquires Crypto: The Game. South Korea redefines NFTs under new regulatory guidelines. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly – 📦 Ethereum blob usage shifted; Paxos launched a new stablecoin USDL
Thursday, June 13, 2024
Ethereum blob usage shifts with Taiko becoming one of the biggest consumers. Paxos launches a yield-bearing stablecoin USDL. ZKsync announces its airdrop plan. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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