Ethereum Spot ETF Approval, Breaking News, and Market Analysis: The Latest Crypto Weekly Update
Welcome to your ultimate source for everything related to Web3, Blockchain, and Crypto! Our Weekly report delves into the latest updates and groundbreaking developments in this fast-paced industry. We carefully curate the most reliable data from trusted sources to keep you well-informed and inspired. Are you ready to stay ahead of the curve? Let’s explore the latest trends and insights together!
1. Breaking News in Web3, Blockchain & Crypto This Week
Here are the major breaking news reports in the Web3, Blockchain, and crypto world that you shouldn’t miss:
– US Supreme Court Rules Against Coinbase in Arbitration Case:
The US Supreme Court has unanimously decided that courts must determine which contract takes precedence when multiple agreements exist, ruling against Coinbase in a dispute over a 2021 Dogecoin sweepstakes.
– US House Votes to Ban Federal Reserve Issuing CBDCs:
The US House has passed the CBDC Anti-Surveillance State Act, which blocks the Federal Reserve from directly issuing digital currencies, aiming to protect the privacy of American citizens.
– US House Passes Crypto Clarity Legislation:
The Financial Innovation and Technology for the 21st Century Act, which provides legal clarity on the classification, registration, and custody of crypto assets, has passed with bipartisan support. This legislation moves away from the SEC’s enforcement-led regulation.
– Trump Campaign Accepts Cryptocurrency Donations:
The Trump campaign has announced that it will now accept cryptocurrency donations, making it the first major party presidential campaign to do so. This move aligns with the campaign’s agenda of prioritizing freedom over government control.
– Polimec Launches on Polkadot for Web3 Fundraising:
Polimec, a decentralized funding protocol, has been launched on Polkadot. It aims to revolutionize Web3 project fundraising by providing a transparent and regulatory-compliant platform for connecting investors with startups globally.
– UN Report: North Korean Hackers Launder Stolen Crypto:
A UN report has revealed that North Korean hackers funneled millions of dollars in stolen cryptocurrency through Tornado Cash last year. The Lazarus Group transferred $147.5 million stolen from the crypto exchange HTX in 2023.
1.1. This Week’s Special News Report on Web3, Blockchain & Crypto That You Can’t Miss
– SEC Approves Spot Ether ETFs; ETH & BTC Witness Volatility:
The SEC has approved spot Ether ETFs for trading on national exchanges. Recently, the price of Ethereum saw a significant increase from $3,100 to a peak of $3,930, following expert predictions. Bitcoin also surged to $72,000. However, both cryptocurrencies experienced high volatility before the approval and have struggled to recover. As of May 25, 2024 (8:30 AM GMT-4), the price of Ethereum stands at $3,741.22, and the price of Bitcoin is $69,273.19. It may take weeks for an Ether ETF to go live, so the full impact on the crypto market will be realized later.
2. Weekly Analysis of Blockchain
Our weekly blockchain analysis covers the dominance analysis and 7-day change analysis of Layer 1 and Layer 2 chains separately.
2.1. Blockchain Dominance Analysis
The top five blockchains based on dominance and Total Value Locked (TVL) are:
– Ethereum: 64.34% dominance, $63,308,692,822 TVL
– TRON: 8.81% dominance, $8,664,627,023 TVL
– BNB Smart Chain: 5.49% dominance, $5,403,408,858 TVL
– Solana: 4.74% dominance, $4,659,519,009 TVL
– Arbitrum One: 3.05% dominance, $2,998,844,013 TVL
2.1.1. Top Five Layer 1 Chains By Dominance
The top five Layer 1 blockchains based on dominance and TVL are:
– Ethereum: 80.74% dominance, $63,280,623,806 TVL
– BNB Smart Chain: 6.89% dominance, $5,401,013,162 TVL
– Solana: 5.94% dominance, $4,657,453,129 TVL
– Bitcoin: 1.46% dominance, $1,142,885,950 TVL
– Avalanche: 1.26% dominance, $989,858,224 TVL
2.1.2. Top Five Layer 2 Chains By Dominance
The top five Layer 2 blockchains based on dominance and TVL are:
– Arbitrum One: 29.79% dominance, $2,997,202,414 TVL
– Blast: 18.61% dominance, $1,871,893,206 TVL
– Base: 16.74% dominance, $1,683,987,107 TVL
– Polygon POS: 9.58% dominance, $963,814,055 TVL
– Optimism: 8.52% dominance, $857,522,817 TVL
2.2. Blockchain 7-Day Change Analysis
Let’s analyze the top five Layer 1 and Layer 2 chains based on the 7-day change index.
2.2.1. Layer 1 Blockchains
Among the top five Layer 1 blockchains, only one shows a negative 7-day change. BNB Smart Chain displays a negative 7-day change of -9.7%. Ethereum shows the highest 7-day positive change of +21.1%. Solana and Avalanche follow with +5.8% and +5.7% changes, respectively. Bitcoin registers a change of +3.6%.
2.2.2. Layer 2 Blockchains
Among the top five Layer 2 blockchains, all of them show positive 7-day changes. Blast displays the highest 7-day positive change of +24.7%. Arbitrum One and Base follow with +13.6% and +11.4% changes, respectively. Optimism records a change of +10.5%, and Polygon POS registers a change of +8.0%.
3. Cryptocurrency Weekly Analysis
Our cryptocurrency weekly analysis covers a wide range of analyses, including general market cap analysis, top gainers and losers, stablecoins, memecoins, AI coins, and metaverse coins.
3.1. Top Cryptocurrency Categories By Market Cap
The top five cryptocurrency categories based on market cap are:
– Layer 1 (LI): $2,075,024,162,080 market cap
– Smart Contract Platform: $759,692,397,902 market cap
– Andreessen Horowitz (a16z) Portfolio: $610,522,744,828 market cap
– Alameda Research Portfolio: $556,666,727,766 market cap
– Alleged SEC Securities: $251,715,895,182 market cap
3.1.1. Trending Categories This Week
The most trending categories this week are Music Tokens, Liquid Restaking Governance Tokens, LRTfi, Yield Tokenization Coins, Elon Musk-Inspired Coins, and AI Meme Coins.
3.2. Top Cryptocurrencies By Market Cap
The top five cryptocurrencies based on market cap are:
– Bitcoin: $1,326,998,613,001 market cap
– Ethereum: $444,659,154,199 market cap
– Tether: $111,958,979,692 market cap
– BNB: $91,693,466,328 market cap
– Solana: $74,431,437,048 market cap
3.2.1. Trending Coins This Week
The most trending cryptocurrencies this week are Gearbox, Apu Apustaja, Turbo, Opulous, and Ondo.
3.2.2. Top Gainers & Losers This Week
The top gainers this week are AMATERASU OMIKAMI, Wojak, Turbo, Higher, and BOB Token. The top losers are Michi, Jeo Boden, Kitten Haimer, Shark Cat, and Notcoin.
3.3. Top Stablecoins Analysis
The top five stablecoins based on market cap are Tether, USDC, Dai, First Digital USD, and Ethena USDe.
3.4. Top Memecoins 7-Day Change Analysis
The top five memecoins based on market cap are Dogecoin, Shiba Inu, Pepe, dogwifhat, and Bonk.
3.5. Top AI Coins 7-Day Change Analysis
The top five AI coins based on market cap are Fetch.ai, Internet Computer, Render, The Graph, and Bittensor.
3.6. Top Metaverse Coins 7-Day Change Analysis
The top five metaverse coins based on market cap are Render, FLOKI, Axie Infinity, The Sandbox, and Decentraland.
4. Crypto ETF Weekly Analysis
Our crypto ETF weekly analysis covers Bitcoin Spot ETFs, Bitcoin Futures ETFs, and Ethereum Futures ETFs.
4.1. Bitcoin Spot ETF Price Change Analysis
The top five Bitcoin Spot ETFs based on Asset Under Management (AUM) are Grayscale (GBTC), BlackRock (IBIT), Fidelity (FBTC), Ark/21 Shares (ARKB), and Bitwise (BITB).
4.2. Bitcoin Futures ETF Price Change Analysis
The top five Bitcoin Futures ETFs based on AUM are ProShares (BITO), VanEck (XBTF), Valkyrie (BTF), Global X (BITS), and Ark/21 Shares (ARKA).
4.3. Ethereum Futures ETF Price Change Analysis
The top five Ethereum Futures ETFs based on AUM are Bitwise (BITW), Valkyrie (BTF), VanEck (EFUT), ProShares (EETH), and Bitwise (AETH).
5. DeFi Protocols Weekly Analysis
The top five DeFi protocols based on Total Value Locked (TVL) are Lido, EigenLayer, AAVE, Maker, and JustLend.
6. Crypto Exchange Weekly Analysis
6.1. Top Crypto Centralised Exchanges
The top five crypto centralised exchanges based on monthly visits are Binance, Coinbase Exchange, Bybit, WhiteBIT, and OKX.
6.2. Top Crypto Decentralised Exchanges
The top five crypto decentralised exchanges based on market share by volume are Uniswap V3 (Ethereum), Uniswap V3 (Arbitrum One), Jupiter, Orca, and Pancakeswap V3 (BSC).
6.3. Top Crypto Derivative Exchanges
The top five crypto derivative exchanges based on 24-hour open interest are Binance (Futures), Bybit (Futures), Deepcoin (Derivatives), Bitget Futures, and BYDFi (Futures).
7. NFT Marketplace Weekly Analysis
The top five NFT marketplaces based on market share are Blur, Blur Aggregator, Cryptopunks, Gem, and X2Y2.
7.1. Top NFT Collectibles This Week
The top five NFT collectibles based on price are CryptoPunks #8796, CryptoPunks #3259, CryptoPunks #5406, CryptoPunks #5335, and CryptoPunks #2685.
8. Web3, Blockchain & Crypto Funding Analysis
8.1. Crypto Fundraising Trend
The total funds raised from May 20 to 26, 2024, amount to $245.00M, from 27 fundraising rounds. In the previous week, from May 13 to 19, 2024, $157.40M was raised from 30 fundraising rounds.
8.2. Most Active Investors This Week
The most active investors this week are OKV Ventures, Laser Digital, No Limit Holdings, Haun Ventures, and DuckDAO.
8.3. Crypto Fundraising By Category
The categories that raised funds this week include Blockchain Infrastructure, Blockchain Services, CeFi, Chain, DeFi, GameFi, NFT, and Social.
8.4. Top Crypto Investment Locations
The top crypto investment locations based on funds raised are the US, Cayman Islands, Greece, and Russia.
8.5. Most Active Crypto VC Jurisdictions
The most active crypto venture capital jurisdictions are the US, Singapore, the UK, China, and Seychelles.
9. Web 3, Blockchain & Crypto Hack Updates
The total value hacked in the Web3, Blockchain, and Crypto space is $7.9B. This includes $5.96B hacked in DeFi and $2.83B hacked in Bridges. Notable recent hacks include Gala, ALEX, pump.fun, and Sonne Finance.
Endnote
This comprehensive report provides an in-depth analysis of the current state of Web3, Blockchain, and Crypto. It covers various aspects such as market cap analysis, top gainers and losers, stablecoins, memecoins, AI coins, metaverse coins, crypto ETFs, DeFi protocols, crypto exchanges, NFT marketplaces, fundraising activities, investor trends, investment locations, and recent crypto hacks. Stay informed and make wise decisions in this ever-evolving industry!