Weekly Crypto News and Market Insights: Significant Developments and Achievements
This comprehensive report presents the major developments in the Web3, Blockchain, and Crypto landscape for the week. It covers various news, performance analysis of blockchains and cryptocurrencies, NFT market analysis, Bitcoin ETF analysis, DeFi market analysis, funding analysis, and a hack analysis. Here are the key highlights from each section:
1. Breaking News This Week:
– The US government is pushing for the extradition of Do Kwon, co-founder of Terraform Labs, from Montenegro to South Korea.
– BlackRock plans to invest in spot Bitcoin ETFs for its Global Allocation Fund, indicating mainstream adoption of cryptocurrency among institutional investors.
– Spain’s AEPD orders Worldcoin to stop collecting personal data due to privacy concerns.
– FTX agrees to pay up to $874.5 million to BlockFi to potentially settle their bankruptcy-related legal conflict.
– WOOFi suffers an $8.75 million loss from a hack targeting its swap feature on the Arbitrum network.
– Binance.US undergoes forced layoffs and revenue decline following legal actions initiated by the SEC.
– Binance announces suspension of NGN services due to increased regulatory scrutiny in Nigeria.
– Fantom Foundation wins a legal battle against Multichain and expects compensation for damages suffered from a security breach.
– Investors of Friend.tech relinquish token sale rights, empowering users with full control over funds.
– SunContract pioneers the world’s first NFT marketplace for solar panels, revolutionizing renewable energy access.
– US senators introduce a bill to block the Federal Reserve from implementing CBDCs, raising concerns over potential surveillance implications.
– Ilya Lichtenstein, involved in Bitfinex theft, collaborates with prosecutors in a Bitcoin Fog money laundering case.
2. Blockchain Performance:
– Top-performing blockchains based on their 7-day change are Beam, Blast, ICP, Bostrom, and DefiVerse.
– Ethereum, TRON, BNB Smart Chain, Arbitrum One, and Solana are the top five blockchains with the highest TVL.
3. Crypto Market Analysis:
– Bitcoin, Ethereum, Tether, BNB, and Solana are the top cryptocurrencies based on market cap.
– Binance Coin showed the highest increase in value at 18.4% over the past seven days.
4. Bitcoin ETF Weekly Analysis:
– ProShares, VanEck, Valkyrie, Global X, and Ark/21 Shares are the top Bitcoin Futures ETFs.
– Grayscale, BlackRock, Fidelity, Ark/21 Shares, and Bitwise are the top Bitcoin Spot ETFs.
5. DeFi Market Weekly Status Analysis:
– Lido, EigenLayer, AAVE, Maker, and JustLend are the top DeFi protocols.
– EigenLayer saw the highest growth in Total Value Locked over the past week.
6. NFT Marketplace: A Basic Weekly Analysis:
– Cryptopunks and Gem led the NFT marketplace volume surge.
– CryptoPunks #3100 fetched the highest price at $16,010,724.
7. Web3 Weekly Funding Analysis:
– BRCStarter, Masa, Edu3Labs, K9 Finance, Bounty Temple, YOUR Protocol, and Weave6 are the major ICOs that ended this week.
8. Weekly Blockchain Hack Analysis:
– Hackers have stolen a total of $7.69 billion, with most of it from decentralized finance platforms.
– WOOFi, Seneca, Tectonica, and FixedFlot were some of the platforms that suffered significant losses from hacks.
Overall, this report provides valuable insights into the latest developments in the Web3, Blockchain, and Crypto landscape, helping stakeholders make informed decisions in this dynamic industry.