This week's crypto weekly was co-authored by @serdave
PRICE CHANGE: WTD/YTD
- BTC ($28,222): +26% / +71%
- ETH ($1,764): +9% / +47%
- SOL ($22.65): +12% / +132%
- UNI ($6.29): +3% / +22%
- MATIC ($1.13): -3% / +50%
MARKET CAP CHANGE: WTD/YTD
- Crypto Market Cap ($1.2T): +13% / +47%
- BTC Dominance: 47%
- ETH Dominance: 19%
- Tether ($76B): +5% / +15%
- USDC ($35B): -13% / -21%
NFT 3M TRADING VOLUMES
THIS WEEK IN CRYPTO
- Bitcoin soared above $28,000, its highest price in 9 months, driven largely over fears of a potential banking crisis and down-stream inflationary effects from the Fed's response to the crisis. Link. Link.
- Crypto volumes hit their highest levels since the collapse of FTX, with $174 billion worth of tokens and stablecoins traded in a single 24 hour period. Link.
- Meta is shutting down its NFT offering, less than a year after launching the platform on Instagram and Facebook. Link. Link. Tweet.
- The Federal Reserve's instant payments network, FedNow, is scheduled to launch in July. FedNow will allow businesses and individual customers of participating banks to send and receive payments 24/7, which may reduce the need for a central bank digital currency in the US. Link. Press Release.
- Microsoft Edge is testing a self-custodied crypto wallet in its latest browser redesign. The wallet offers pricing info for assets in a user's wallet as well as a crypto-specific news feed. Link. Link. Tweet.
- Salesforce announced Salesforce Web3, a suite of products that will help companies build, manage, and integrate NFTs into their businesses. It is also partnering with Polygon on an NFT-based loyalty program. Link. Link. Blog Post.
- Coinbase is considering setting up a crypto-trading platform oversees. The news comes as US regulators increase their crackdown on crypto. Link. Link.
- Off Chain Labs, the developer behind Layer 2 scaling solution Arbitrum, announced the launch of its native $ARB governance token. Link.
- Florida Governor Rob DeSantis introduced legislation to prohibit the use of a national CBDC in the state. Link. Press Release.
- The top 10 crypto applications for exchanges and wallets saw downloads rise 15% since the collapse of SVB. Meanwhile, app downloads for traditional banks fell 5%. Link.
- NFT project Doodles is moving away from being an "NFT project" and focusing on its long-term vision of becoming a top-tier media brand. Link. Link.
- $197 million was lost from crypto lending platform Euler finance in a flash-loan attack this week. The exploiter returned $5.4 million but has yet to return the rest of the funds. Link. Link.
- New findings show that FTX and related entities transferred more than $3.2 billion to founders and top employees, including $2.2 billion to Sam Bankman-Fried. Link.
- Cold storage wallet provider Ledger launched a new browser extension to support dApps and platforms directly in browser. Ledger Extension is currently available on Safari, iOS, and MacOS but will soon support Chrome, Brave, Opera and Edge. Link.
- Coinbase's former CTO Balaji Srinivasan wagered that the price of Bitcoin would hit $1 million in the next 3 months due to a rapid devaluing of the US dollar. Link.
- The Blockchain Association, one of the largest crypto lobbying groups, sent FOIA requests to government agencies requesting documents and communications around the de-banking of crypto firms including Signature Bank, SVB, and Silvergate. Link.