Crypto.com Weekly Market Update (Week 17, 26/04/2021 - 02/05/2021)
BTC at $57K, ETH all-time high $3,200; Alt prices rose
Market Recap
After pulling back to $50,000 last week, Bitcoin recovered and rebounded to $57,000 on Friday, gaining over 7.5% in 24 hours. The upswing in the price was helped by the expiration of $4.2 billion in bitcoin options contracts, as traders bought to cover their options positions. Bitcoin’s market dominance is sitting around 47.99% owing to the strength of altcoins.
Meanwhile, Ethereum pushed past record highs multiple times this week, rising more than 30% in the past 7 days. At the time of writing, Ethereum has made an all-time high of $3,030, buoyed by news that the lending arm of the EU, the European Investment Bank, has issued a EUR 100 million digital bond on the Ethereum blockchain this week.
Overall, the price index surged 16.41%, while volume and volatility dropped by 24.75% and 38.72% respectively.
Check the latest prices on crypto.com/price.
Price Index
All token' prices rose.
Top 3 gainers: ETH (+24.89%), XLM (+20.45%), EOS (+20.38%)
Benchmark: BTC (+12.66%)
The lending arm of the EU, the European Investment Bank, issued a EUR 100 million CBDC-denominated 2-year digital bond on Ethereum blockchain (ref). Additionally, deposits in the Ethereum 2.0 staking contract hit a new all-time high of 4 million ETH worth $10.8 billion (ref).
Volume Index
Token volumes dropped.
Top 3 decrease: XTZ (-47.13%), LINK (-43.04%), XMR (-42.58%)
Benchmark: BTC (-23.45%)
Intel partnered with Microsoft to deploy a threat detection tool to combat cryptojacking attacks, a malicious cyberattack which affected computers are installed with crypto-mining apps, aiming to mine cryptos (often Monero) illicitly by taking resources from the systems (ref).
Volatility Index
Token volatility declined.
Top 3 decrease: ETH (-65.89%), XMR (-62.88%), DOT (-48.91%)
Benchmark: BTC (-12.25%)
Top News
Grayscale Acquires Close to 1 Billion in Crypto In Single Day
JPMorgan to Let Clients Invest in Bitcoin Fund for First Time: Sources
Ethereum on a high after European Investment Bank’s $121M digital bond news
CME eyes 'much wider potential customer base' with next week's micro bitcoin futures launch
Top DeFi News
Ethereum DeFi Lending Platforms Print Record High of $25,000,000,000 in Total Value Locked
Badger DAO and RenVM announce launch of BTC-to-Ethereum 'Badger Bridge'
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