Discover more from Weekly Crypto News about DeFi, NFT, and crypto market
Market Pulse by the Crypto.com Research & Insights Team (Week 38, 12/09/2023 - 18/09/2023)
Crypto.com kicks off its inaugural APAC Hackathon. Ethereum launched its new testnet Holesky. Franklin Templeton joins the race for a spot BTC ETF.
Weekly Market Index
Last week’s crypto market prices increased slightly by +2.31%. Volume and volatility also rose by +25.01% and +281.93%, respectively.
Chart of the Week
Popular messaging app Telegram has endorsed the TON network as its blockchain of choice for Web3 infrastructure, and will integrate it into the app's user interface. TON network uses Proof-of-Stake (PoS) consensus model and supports sharding. Toncoin (TON), the blockchain's native token, has surged in the last month, while total-value-locked (TVL) has also risen.
Bitcoin (BTC) and Ethereum (ETH) prices were up slightly at +3.0% and +0.5%, respectively, in the past seven days. Price action for other selected top-cap tokens was mixed. Toncoin (TON) was a notable outperformer, rising +34.9%.
Selected key categories were mixed on market cap change in the past seven days, with Real World Assets continuing to lead.
Crypto.com announced last week the kickoff of its inaugural APAC Hackathon. The Hackathon, which is supported by academic partners Singapore Management University and Melbourne Business School.
Ethereum developers launched a new test network, Holesky, that will improve the blockchain’s testing capability. The testnet should have 1.4 million validators, double the 700,000 on mainnet, to help address scalability problems.
Franklin Templeton, a global asset management firm with AUM of US$1.4 trillion, has joined the race for a spot Bitcoin exchange-traded-fund (ETF), submitting its application with the US Securities and Exchange Commission (SEC) last week.
PayPal has added to its crypto product suite with the launch of a new off-ramp service to convert crypto tokens to US dollars directly from wallets into PayPal accounts.
SWIFT announced that three other central banks, including the Hong Kong Monetary Authority and the Central Bank of Kazakhstan, have joined the beta phase of its central bank digital currency (CBDC) interoperability project. It has also entered a new phase of sandbox testing.
Germany’s biggest lender, Deutsche Bank, plans to establish digital asset custody and tokenisation services. Earlier this year in June, the bank had applied for a crypto custody license from the country’s financial watchdog, BaFin.
Boerse Stuttgart Digital, the crypto-focused arm of Germany’s Stuttgart Stock Exchange, plans to introduce a fully insured cryptocurrency staking service next year.
Recent Research Reports
Research Roundup Newsletter [August 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in August, charts of the month, and our latest research on decentralised stablecoins.
Alpha Navigator: Quest for Alpha [August 2023]: Asset classes dipped in August; BTC and ETH underperformed. No surprises from the central bankers summit at Jackson Hole. China intensifies economic stimulus.
Decentralised Stablecoins: Stablecoins are well positioned to facilitate broader adoption of cryptocurrencies. We explore the key decentralised stablecoin projects and their innovative mechanisms.
Recent University Articles
Pig Butchering Scams: What They Are and How To Avoid Them: This more recent type of scam making its appearance in the crypto space is a cross between romance and investment scams. Here’s how these scams work and the basics of how to recognise them.
Crypto Romance Scams: What They Are and How To Avoid Them: Your new date is talking you into a hot, new crypto project? It could be a romance scam. Here’s how they work and how to recognise them.
What Is Cardano (ADA)?: Learn about Cardano’s scalable, sustainable, and interoperable blockchain solution, as well as its native token, ADA.
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!
Share with a friend if you like our email!
Thanks for reading Weekly Crypto News about DeFi, NFT, and crypto market! Subscribe for free to receive new posts and support my work.