Crypto.com Weekly Market Update (Week 25, 21/06/2021 - 27/06/2021)
BTC at $34.9K, ETH at $2,028; price index dropped; volume and volatility index grew.
Market Recap
Bitcoin has rebounded after dropping below $30,000 on Wednesday. On Friday, it saw a sharp drop from the $35,000 and downed by 8% as the Federal Reserve’s preferred inflation indicator (PCE) surged to its highest levels in almost three decades. Bitcoin dominance is currently sitting at 47.9% at the time of writing.
Meanwhile, Ethereum has downed by almost 20% on Tuesday and dropped below $2,000 for the first time in 3 months to $1,750. It retracted sharply after retesting the $2,000 level on Wednesday and is trading at $1,850 at the time of writing.
Overall, the price index dropped 8.11%; while the volume and volatility index grew 11.04% and 8.07% respectively.
Check the latest prices on crypto.com/price.
Price Index
All token prices declined.
Top 3 losers: DOT (-28.21%), XMR (-23.62%), ATOM (-17.73%)
Benchmark: BTC (-4.45%)
DeFi hub Karura won in the first Kusama (the sister blockchain of Polkadot) parachain slot auction (ref).
Volume Index
Most token volumes climbed except XTZ (-0.01%) and XLM (-12.31%).
Top 3 increase: ADA (+85.84%), LINK(+16.97%), XMR (+15.72%)
Benchmark: BTC (+9.20%).
McLaren Racing announced the partnership with Tezos (XTZ) to build an NFT platform (ref).
Cardano (ADA) hit a new milestone, surpassing 650K staking addresses. Data showed that 50,000 new staking addresses have come in for ADA in the last three weeks (ref). Additionally, IOHK, the developers behind Cardano, integrated Cardano into the decentralised crypto trading platform Orion (ref).
Volatility Index
Most token volatility surged except DOT (-3.58%) and LINK (-21.90%).
Top 3 increase: XMR (+92.71%), XLM (+78.83%), XTZ (+62.99%)
Benchmark: BTC (+3.72%)
Top News
Citigroup launches a digital asset unit within its wealth management division
Goldman Sachs reportedly started trading on JPMorgan’s repo blockchain
NYDIG and Q2 partner to enable Bitcoin trading for 18M US bank customers
$3.6B Worth Bitcoins Scam, Founders of South African Crypto Exchange Africrypt Are Missing
Top DeFi News
Sushiswap to deploy full suite of Sushi products on Harmony’s blockchain
5.9 Million ETH Locked in ETH 2.0 Contract, Totalling 5.08% of Ethereum Supply
Developer ‘rug pulls’ Ethereum DeFi project SharedStake, SGT token falls 95%
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