💸 Stablecoin market capitalisation reached a two-year high; Crypto.com Exchange was the top crypto exchange with…
💸 Stablecoin market capitalisation reached a two-year high; Crypto.com Exchange was the top crypto exchange with USD support by spot trading volume in JulyStablecoin market capitalisation reached a two-year high; Crypto.com Exchange was the top USD crypto exchange by spot trading volume in July; Grayscale Bitcoin Mini Trust began trading on 31 July.Quick Take
Weekly Market IndexAll three market indices dropped last week. Price, volume, and volatility indices decreased by -13.82%, -3.32%, and -0.85%, respectively. The downtrend coincided with the US government moving 29,800 BTC (~$2 billion) from seized Silk Road funds, weaker-than-expected US jobs data, and a drop in the broader equity markets. The price decrease was led by ONDO (-29.67%). Chart of the WeekStablecoin market capitalisation reached $164 billion in late July 2024, a two-year high since the collapse of Terra’s UST in 2022. According to DefiLlama, as of 31 July 2024, USDT and USDC take up 70% and 20% of market capitalisation, respectively. PayPal's stablecoin, PYUSD, has surpassed $620 million in market capitalisation within its first year of launch. This expansion of stablecoin adoption and liquidity indicates that more capital is flowing into the broader crypto economy. Weekly PerformanceBTC and ETH decreased by -13.0% and -13.6%, respectively, in the past seven days. Price action for all other selected top market capitalisation tokens was down. INJ (-29.4%) led the drop. Key categories were all down in market capitalisation in the past seven days. The artificial intelligence category led the drop. Notable Token UpdatesNews HighlightsETFs and Funds
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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 - 📉 NFT Market Shifts Towards Organic Activity Amid Overall Decline
Friday, August 2, 2024
The NFT market shifts towards organic activity. Telegram launches an in-app browser for Web3. Hamster Kombat and Catizen delay airdrops. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly - 📈 Solana’s TVL and DEX volume hit milestones; StarkWare is planning to integrate Cosmos’s IBC
Wednesday, July 31, 2024
Solana's TVL and DEX volume hit milestones. StarkWare is planning to integrate Cosmos's IBC. Ethena plans to allocate funds to RWA for yield and BlackRock's BUIDL applied. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
💸 US spot Ethereum ETFs saw US$342 million net outflow last week; Crypto.com featured Bitcoin on the Sphere in La…
Monday, July 29, 2024
US spot Ethereum ETFs saw US$342 million net outflow last week; Crypto.com featured Bitcoin on the Sphere in Las Vegas; Franklin Templeton and SBI are establishing a crypto ETF management firm. ͏ ͏ ͏ ͏
NFT & Blockchain Gaming Weekly - 🚀 Solana Monkey Business & Other Collections Propel Solana NFT Sales to Second P…
Friday, July 26, 2024
Solana Monkey Business & Other Collections Propel Solana NFT Sales To Second Ranking. Telegram Launches Web3 App Store. Animoca Partners The Open Network (TON) for Ecosystem Integration. ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly - 📈 US spot ETH ETFs began trading; Polymarket saw a record US$28 million in daily trading vol…
Wednesday, July 24, 2024
US spot ETH ETFs begin trading with $107 million inflows. Polymarket sees a record $28 million in daily trading volume. State Street is exploring the creation of its own stablecoin. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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