Market Pulse by the Crypto.com Research & Insights Team (Week 48, 21/11/2023 - 27/11/2023)
Cosmos Hub to decrease max. inflation rate of ATOM. South Korea to pilot CBDC with 100K citizens in 2024. Santander Private Bank to offer BTC and ETH trading.
Weekly Market Index
Last week’s crypto market prices rose slightly by +2.65%. Volume decreased by -16.32% while volatility increased by +39.14%.
Chart of the Week
The governing body of Cosmos Hub has endorsed a proposal to decrease the maximum inflation rate of its native token, Cosmos, from 14% to 10%. According to the proposal, the authorised modification would reduce ATOM’s annualised staking yield. The Cosmos Hub is the primary blockchain within the Cosmos network, a system of interlinked blockchains. The ATOM token is employed for staking, governance and transaction fees. A snapshot of the current staking average reward rates, staking market caps, and staking ratios for top blockchains is shown below.
Weekly Performance
Bitcoin (BTC) and Ethereum (ETH) rose slightly by +0.6% and +2.9%, respectively, in the past seven days. Price action for other selected top-cap tokens was mixed, with UNI leading.
Selected key categories were mostly up in terms of market cap change in the past seven days, led by Gaming.
News Highlights
Grayscale Investments reportedly recently held a meeting with the US Securities and Exchange Commission (SEC) to discuss potential matters related to the conversion of the Grayscale Bitcoin Trust (GBTC) product into a spot Bitcoin exchange-traded-fund (ETF).
South Korea will start a pilot for a central bank digital currency (CBDC) involving citizens in the fourth quarter of next year. The project will see 100,000 people be able to purchase goods with tokens issued by commercial banks in the form of a CBDC.
Santander Private Banking International, part of Spanish financial services giant Banco Santander, is reportedly offering high-net-worth clients with Swiss accounts trading and investing in the major cryptocurrencies Bitcoin and Ether.
Austria’s Raiffeisen Bank will roll out cryptocurrency trading services to retail customers by the end of January 2024.
Recent Research Reports
Research Roundup Newsletter [October 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in October, charts of the month, and our insights on friend.tech and SocialFi trends.
Friend.Tech: Explore what friend.tech is, its success factors and criticisms, and some of the competing platforms that have emerged.
Alpha Navigator: Quest for Alpha [October 2023]: US Federal Reserve holds steady on interest rates. BTC starts 4Q strong, outperforming other asset classes.
Recent University Articles
The Maker (MKR) Governance Token: How It Works and How To Get It: Here’s how MKR — MakerDAO’s governance and utility token — works and what rights holders have.
Liquid Staking With the Lido (LDO) Token: The Lido token was conceived to make liquid staking easier and more accessible to crypto users. Here’s how it works.
What Is Unibot (UNIBOT)?: In this article, we focus on a Telegram trading bot called Unibot, covering how Telegram users can trade cryptocurrencies through it.
Catalyst Calendar
Disclaimer:
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accumulation of Crypto for the new coming bullmarket is definitely on and we will confirm it soon I believe personally we got through all last week intact and it gave us a lot of new opportunities for new positions .
Graham Conquer ok out .
I always wonder why Tron TRX is never on these charts I'm happy with crypto.com so far they have successfully completed most if not all of there tasks anyway,-The markets seem unusualy stable on the charts as with all of the communication last week with kraken and cz , personally I believe that people are used to the corruption in Crypto and the future is looking positive as the just companies are doing well eth is doing well and BTC polygon seems to have a problem with it's blockchain being not running as smoothly as I would of liked,I do believe that It will become sorted and come back to ath,s people forget some if not all of these tokens and coins have big opening parties and raise the price which will immediately drop so the ath,s should be calculated after 6months or 18 I believe it would give a more realistic one such as internet computer's release huge immediately dropped off over 90% ,we all no that the best Crypto are the niche ones which have a reason and purpose and are used ,I have found as bitcoin is open source a lot of people will buy only what they see other ppl buy and follow the whales ,whale spotting can be a better tactic than reading charts sometimes but not all ,, I have reason to believe that the markets on the way back Up long though it seems that it's Crypto tied to BTC or ETH except when we had a small rally in the summer of alt coins mostly tied to the gaming industries which have a column on their own,I like crypto.com putting coins into columns such as store of value or AI ,.
I would like to see the exchange up the leverage slightly to . maybe 10x As I believe that it would attract a lot more users and I mean crypto.com has almost everything you need I have the exchange the defi and the app and of course the nfts ,
If we can hold out until December I believe that the bull market is gonna be on fire as the four stages of the Crypto cycle is complete as taught in the crypto.com university, which is an excellent tool ,.
I would like to say congratulations to all at crypto.com and have a great festive season,
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All the best from
Graham Conquer