Weekly Crypto Market Update

  • Bitcoin's dominance is down by 2.4% (51.9%), the total market cap is down by 4.4% ($175bn)‚ and overall volume is down by 36% ($39.4bn) on the previous week. Bitcoin is down by 1.2%, Ethereum is down by 6.8%, XRP is down by 8.3%, and EOS is up by 0.8%. The best performers among the top-20 crypto were Tezos (20%), Binance Coin (6.8%) and EOS (0.8%).

  • CME Group Reports Record Volume on Bitcoin Futures

  • Societe Generale Subsidiary Launches Blockchain ETN

  • Facebook Seeks $1 Billion Venture Capital for Its Crypto Initiative

  • Coinbase Launches Crypto Visa Card for UK and EU Customers

  • Blockstack to Raise $50 Million in SEC-Regulated Offering

  • Securitize Launches One Stop Shop for Security Token Services

  • GSX Allows for Listing of Tokenized Securities

  • Mauritius Issues Regulatory Guidance on STOs

  • BitStamp Receives BitLicense to Expand Their Operations in US

  • US Congressman Reintroduces Token Taxonomy Act

  • China Plans to Ban Crypto Mining Activities

 

MARKET MOMENTUM

After the week-long spike since the beginning of the April, digital assets have been consolidating over the past week, where the total market cap lost almost 4% of its value. Bitcoin has attempted to break through the yearly highs at $5,450, but has failed and fallen by 8%, towards sub $5k levels, where it has found its support and is currently slowly climbing to $5,200. Ethereum has fallen by more than 10% from $180 to find its support above $160, from where it has jumped back to the current $169. Similarly, the third largest asset, XRP, has fallen almost 10% from $0.36 to $0.33, however it's still struggling to build momentum, much the same as BTC and ETH. For the rest of the top-30 assets, 7 day losses range from 5% to 16% with the exception of Tezos (+20%), BNB (+4.4%) and EOS (+1.5%).

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