PRICE CHANGE: WTD/YTD

- BTC ($43,532): -6% / +50%
- ETH ($3,082): -4% / +318%
- XRP ($0.95): -5% / +329%
- UNI ($24): +5% / +394%
- Crypto Market Cap ($1.9T): -5% / +153% 
- BTC Dominance: 42%
- ETH Dominance: 19%

STABLECOIN MARKET CAP CHANGE: WTD/YTD

- Tether ($69B): 0% / +228%
- USDC ($31B): +5% / +700%

NFT 3M TRADING VOLUMES

THIS WEEK IN CRYPTO

- China's central bank is banning all crypto trading activities including mining, citing national security concerns. China had banned crypto activities in 2013 and 2017, but this latest ban is more severe. All activities tied to cryptocurrencies, like trading, token issuance, derivatives, and mining are illegal. It also said that offshore crypto exchanges can no longer serve customers in mainland China, which is how Chinese users have been skirting by the longstanding ban on domestic crypto exchanges. Crypto prices fell across the board on the news. Link. Link. Link.

- Huobi, one of the most popular crypto exchanges among Chinese crypto users, has suspended new registration for users in Mainland China. Link. 

- Uniswap and other decentralized exchanges saw their token prices rise on the news of China's ban, while prices on centralized exchanges fell. Link. 

- Dapper Labs raised $250 million in funding led by Coatue, valuing the company at $7.6 billion. Dapper Labs is behind NFT game NBA Top Shot, which currently has 1.1 million registered users who have traded over $780 million. Dapper Labs also announced a partnership with the Spanish football association LaLiga, which also has a partnership with NFT platform Sorare. Link. 

- A new report from JPMorgan suggests that institutional investors currently prefer ethereum over bitcoin. Link. 

- Coinbase is shelving its upcoming Lend product which would have allowed users to stake the stablecoin USDC and earn 4% APY. The SEC believed Lend was a security and threatened to sue Coinbase if it launched the product. Link. 

- Twitter has partnered with Strike to allow users to tip in bitcoin on its platform via the Lightning Network. Twitter also plans to allow users to authenticate their NFTs by connecting their crypto wallets. A badge shown on profile pictures will mark the NFT as authentic. Link. 

- BitClout creator Nader Al-Naji launched the "Decentralized Social" (DeSo) blockchain with $200 million in funding from a16z and others. The DeSo blockchain aim to make social media accessible and monetizable. The blockchain is powered by the DESO token (previously named CLOUT). Link. 

- OpenSea released an app for iOS and Android. Users can browse for NFTs but cannot buy or sell them on the app yet. Link. 

- Sorare raised $680 million in funding led by SoftBank Vision Fund, valuing the company at $4.3 billion. Sorare has partnered with 180 soccer organizations, including some of the most famous clubs in Europe, to build a fantasy soccer platform based on NFTs. Sorare currently has 600k registered users who have traded over $150 million. Link. 

- Robinhood is releasing a crypto wallet with transfer features that will make it easier for customers to send and receive crypto. Link. 

- Blockchain-based music streaming platform Audius raised $5 million from industry veterans in music including Katy Perry, The Chainsmokers, Nas, and former Sony Music CEO Martin Bandier. Audius has over 6 million monthly users. Link. 

- Otis, a startup that allows users to purchase shares of valuable items, is adding NFTs to its offering. Otis will be offering CryptoPunks #2142 (bought for $375k), Meebits #12356, and Art Blocks Squiggle #524 (bought for $24k). Link. Otis OpenSea Collection. 

- TIME magazine launched a collection of 4,676 NFTs that sold out in under one minute. The NFTs sold for 0.1 eth. Gas spiked to 9,000 gwei. Link. 

- Blockdaemon, a platform for building blockchain nodes, raised $155 million at a $1.26 billion valuation led by SoftBank Vision Fund. Blockdaemon supports over 40 blockchains including Ethereum, Bitcoin, Solana, Terra, Cardano and Polkadot. Link.