Market Pulse by the Crypto.com Research & Insights Team (Week 47, 29/11/2022 – 05/12/2022)
Telegram to build a decentralised exchange and non-custodial wallets. Fidelity opened up retail crypto trading accounts. European Investment Bank issues first-ever digital bond.
Weekly Market Index
Last week’s crypto market prices were up slightly at +2.71%, while volume and volatility dropped by -15.03% and -0.84%, respectively
Sources: Crypto.com Research, Crypto.com Price
Notes: Based on market-cap adjusted index of selected top-cap tokens
Weekly Performance
Bitcoin (BTC) and Ethereum (ETH) were up +4.7% and +7.7% last week, respectively. Amongst other selected top-cap crypto tokens, Uniswap (UNI) surged +17.1% and Cronos (CRO) rose +6.6%.
Sources: Crypto.com Research, CoinGecko
Notes: Selected top-cap tokens; rectangle size represents market cap
News Highlights
Messenger app Telegram plans to build a crypto decentralised exchange and non-custodial wallets. It has also sold US$50M in usernames in less than a month through its blockchain-based auction platform, Fragment.
Fidelity has opened up retail crypto trading accounts that allow trading of Bitcoin (BTC) and Ethereum (ETH).
The Chamber of Deputies of Brazil, a federal legislative body, passed a regulatory framework that legalises the use of cryptocurrencies as a payment method within Brazil, although it still needs the approval of the executive branch.
Reddit saw an all-time-high in NFT mints, with 216K mints in one day. There are currently 4.3M avatars, owned by 3.65M holders. 3.4M own a single avatar, while 234K holders own 920K avatars, an average of 3.9M avatars per holder.
The European Investment Bank (EIB), issued a first-ever euro-denominated 100M digital bond on a private blockchain-underpinned platform.
Recent Research Reports
Argentina 2022 Survey: Argentines are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentine citizens to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. Here are the findings.
Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility.
Alpha Navigator (October 2022): We look at asset class performance in October. Is the Fed pivoting on rate tightening policy? ETH’s short-term correlations with equities reducing.
Catalyst Calendar
* Forecasts from CME FedWatch Tool; dates shown are for Eastern Time
Disclaimer:
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well done Brazil