Weekly Report on Web3 Blockchain and Cryptocurrency
Welcome to the ultimate destination for all things related to Web3, Blockchain, and Crypto! Our Weekly report delves into the latest updates and groundbreaking developments in the dynamic world of technology. We carefully curate the most reliable data from trusted sources to ensure you are always informed and inspired. Are you ready to explore the newest trends and insights with us?
1. Breaking News in Web3, Blockchain & Crypto This Week
Here are the major breaking news stories of the week in the world of Web3, Blockchain, and crypto that you cannot afford to miss.
– NY Attorney General Files Lawsuit Against Crypto Companies for Fraud
New York Attorney General Letitia James has filed a lawsuit against NovaTechFx and AWS Mining, accusing them of running illegal pyramid schemes that defrauded over 11,000 individuals and investors, resulting in losses exceeding a billion dollars in cryptocurrency.
– Creditors Challenge FTX Reorganisation Plan
Creditors of the bankrupt cryptocurrency exchange FTX have raised objections to its reorganisation plan, citing concerns about property rights, the best interest test, and inconsistent debtors’ liquidation analysis. The objection was led by FTX creditor activist Sunil Kavuri.
– Andrew Tate’s Meme Coins Disrupt Solana Market
Meme coins inspired by Andrew Tate have taken the Solana market by storm on DEXScreener, quickly accumulating hundreds of millions of dollars. Tate has confirmed his efforts to disrupt Solana, leading to chaos in the crypto market.
– SEC Chair Gensler Delays Spot Ethereum ETFs
SEC Chair Gary Gensler has expressed concerns about unethical practices in crypto exchanges. In a recent interview, he stated that the introduction of spot Ethereum ETFs will require more time.
– Cardano Founder Defends Network’s Fundamentals
Charles Hoskinson, the founder of Cardano, has refuted claims of weak fundamentals and criticized the media for negative portrayals. He asserts that Cardano’s progress is in stark contrast to how it is depicted in the media.
– Robinhood to Acquire Bitstamp for $200 Million
Trading platform Robinhood is set to acquire cryptocurrency exchange Bitstamp in a $200 million all-cash deal. The acquisition aims to enhance Robinhood’s presence in the crypto market and attract institutional clients.
– Lawmakers Call on Biden to Assist Detained Binance Executive
U.S. lawmakers have urged President Joe Biden to intervene in the case of Tigran Gambaryan, a Binance executive who has been detained by Nigerian authorities for nearly three months. They are demanding immediate action, treating the situation as a hostage crisis.
– Thailand Approves First Bitcoin ETF for Wealthy Investors
Thailand’s SEC has approved One Asset Management to launch the country’s first Bitcoin ETF, exclusively available to wealthy and institutional investors. The ETF will invest in 11 prominent global funds.
– Bitpanda and Deutsche Bank Partner for Real-Time Payments
Austrian crypto broker Bitpanda has partnered with Deutsche Bank to enable real-time payment solutions in Germany. Through API integration, Bitpanda will have access to German IBAN accounts, streamlining user transactions.
– Watford FC Offers Equity on Crypto Platforms
Watford Football Club is planning to sell 10% of its equity to investors, including fans, through crypto and startup investment platforms Republic and Seedrs. This initiative aims to engage supporters and raise funds.
– Americans Turn to Bitcoin Amid Geopolitical Tensions
A survey conducted by Harris Poll, funded by Bitcoin ETF issuer Grayscale, has revealed that an increasing number of American voters are considering Bitcoin as a hedge against geopolitical tensions and inflation. One in three voters will consider candidates’ stances on cryptocurrencies.
2. Blockchain Weekly Analysis
The blockchain weekly analysis focuses on the dominance and 7-day change of Layer 1 and Layer 2 chains, providing a detailed overview of the market dynamics.
2.1. Blockchain Dominance Analysis
Ethereum, TRON, BNB Smart Chain, Solana, and Arbitrum One are the top five blockchains in terms of dominance and Total Value Locked (TVL).
Among these top chains, Ethereum leads with a dominance of 64.07% and a TVL of $66,389,145,462. TRON and BNB Smart Chain follow with 8.38% and 5.64% dominance, respectively.
2.1.1. Top Five Layer 1 Chains By Dominance
Ethereum, BNB Smart Chain, Solana, Bitcoin, and Avalanche are the top five Layer 1 Blockchains by dominance and TVL.
Ethereum dominates the Layer 1 chains with 81.13% dominance and a TVL of $66,329,231,344. BNB Smart Chain and Solana follow with 7.08% and 5.85% dominance, respectively.
2.1.2. Top Five Layer 2 Chains By Dominance
Arbitrum One, Blast, Base, Polygon POS, and Optimism are the top five Layer 2 Blockchains based on dominance and Total Value Locked.
Arbitrum One leads the Layer 2 chains with a dominance of 28.72% and a TVL of $3,185,688,673. Blast and Base closely follow with 20.47% and 15.73% dominance, respectively.
2.2. Blockchain 7-Day Change Analysis
The 7-day change analysis of the top Layer 1 and Layer 2 chains reveals the market fluctuations and trends over the past week.
Among the Layer 1 chains, at least three show positive 7-day changes. BNB has the highest change of +8.0%, followed by Bitcoin and Ethereum with +3.2% and +2.8% changes, respectively. Avalanche displays a negative change of -5.0%, while Solana shows a minimal negative change of -0.2%.
All the Layer 2 chains show positive 7-day changes. Arbitrum One reports the highest change of +3.1%, followed by Polygon POS and Blast with +2.8% and +2.0% changes, respectively. Base and Optimism also show positive changes of +1.7% and +0.3%, respectively.
3. Cryptocurrency Weekly Analysis
The cryptocurrency weekly analysis covers a comprehensive range of topics, including market cap analysis, top gainers and losers, stablecoins analysis, memecoins analysis, and AI coins analysis.
3.1. Top Cryptocurrency Categories By Market Cap
Layer 1 (LI), Smart Contract Platform, Andreessen Horowitz Portfolio, Multicoin Capital Portfolio, and Alameda Research Portfolio are the top five cryptocurrency categories by Market Cap.
Layer 1 (L1) stands out with the highest market cap of $2,189,424,328,641 and a 7-day change of +4.4%. Smart Contract Platform follows closely with a market cap of $797,526,071,177 and a 7-day change of +4.2%.
3.1.1. Trending Categories This Week
Base Meme, PolitiFI, Cat-Themed, Frog-Themed, Strategy Games, and Internet of Things (IOT) are the top trending categories this week.
Frog-Themed has the highest market cap of $8,415,191,190, followed by Internet of Things (IOT) with $7,455,301,823. Strategy Games have the lowest market cap at $257,276,851.
3.2. Top Cryptocurrencies By Market Cap
Bitcoin, Ethereum, Tether, BNB, and Solana are the top five cryptocurrencies by market cap.
Bitcoin leads with a market cap of $1,403,190,110,920 and a 7-day change of +4.0%. Ethereum follows with a market cap of $457,933,361,461 and a 7-day change of +1.8%.
3.2.1. Trending Coins This Week
MANTRA, GALA, MAGA Hat, Planet IX, and OctaSpace are the most trending cryptocurrencies at the time of analysis.
GALA has the highest market cap of $1,600,024,761, followed by MANTRA with $779,386,388. MAGA Hat, Planet IX, and OctaSpace also feature in the trending list.
3.2.2. Top Gainers & Losers This Week
GME, Basenji, Undeads Games, Beercoin, and Base God are the top gainers of the week, with GME showing the highest 7-day gain of 647.2%.
Lifeform, NEM, Waves, OMG Network, and MANEKI are the top losers of the week, with Lifeform reporting the highest 7-day loss of -44.0%.
3.3. Top Stablecoins Analysis
Tether, USDC, Dai, Ethena USDe, and First Digital USD are the top five stablecoins based on market cap.
Tether leads with a market cap of $112,456,988,338, followed by USDC with $32,559,591,922. Dai, Ethena USDe, and First Digital USD also rank high in the stablecoins analysis.
3.4. Top Memecoins 7-Day Change Analysis
Dogecoin, Shiba Inu, Pepe, dogwifhat, and FLOKI are the top five Memecoins based on market cap.
FLOKI shows an impressive 7-day change of +25.0%, while Dogecoin has a minimal change of +1.3%. Dogwifhat and Shiba Inu report negative changes, while Pepe shows a minimal negative change.
3.5. Top AI Coins 7-Day Change Analysis
NEAR Protocol, Internet Computer, Fetch.ai, Render, and Bittensor are the top five AI Coins based on market cap.
NEAR Protocol leads with a market cap of $8,044, followed by Internet Computer and Fetch.ai. These AI coins show positive changes over the past week, indicating a positive trend in the market.
Stay tuned for more updates and analysis on the ever-evolving world of Web3, Blockchain, and Crypto!As of Friday, June 7, 2024, at 3:14 AM (GMT-4), the top AI coins in terms of market cap are NEAR Protocol with $8,044,387,303, followed by Internet Computer at $5,588,676,977 and Fetch.ai at $5,137,865,736. Among these, only Fetch.ai shows a negative 7-day change of -6.5%, while Bittensor has the highest positive change of +9.8%. Render, NEAR Protocol, and Internet Computer follow with +3.8%, +2.1%, and +1.7% respectively.
In the realm of Metaverse coins, Render leads with a market cap of $4,042,207,103, closely followed by FLOKI, Axie Infinity, The Sandbox, and Decentraland. FLOKI shows the highest 7-day change of +24.9%, followed by Axie Infinity at +13.7% and The Sandbox at +8.4%. Decentraland and Render report +6.4% and +3.9% changes, respectively.
Moving on to Crypto ETFs, Bitcoin Spot ETFs like GBTC and IBIT have negative changes of -1.14% and -1.25% respectively. Bitcoin Futures ETFs like BITS and XBTF show positive changes of +1.94% and +0.33% respectively. Ethereum Futures ETFs like EETH have the highest negative change at -2.31%.
In the DeFi space, Lido leads with a TVL of $36.411B, followed by EigenLayer and AAVE. Lido and AAVE show positive 7-day changes of +2.33% and +2.14%, while Maker has a negative change of -1.93%.
When it comes to crypto exchanges, Binance tops the list of centralised exchanges with 75.3M monthly visits, followed by Coinbase Exchange and Bybit. In the world of decentralised exchanges, Jupiter leads with a market share of 17.1%, followed by Uniswap V3 and Cellana Finance. Binance (Futures) dominates the derivatives space with a 24-hour open interest of $23,143,639,948.
NFT Marketplaces like Blur and Blur Aggregator show negative volume changes, with X2Y2 having the highest change at -72.89%. In terms of NFT collectibles, 5df669f8cd2889 holds the highest price at $219,102.49.
In the realm of Web3, Blockchain, and Crypto funding, the sector has raised $402.43M this week, with the most active investors being Hashkey Capital and Animoca Brands. CeFi leads in funds raised categories, with the UK being the top investment location.
Overall, this report provides insights into the performance of various cryptocurrencies, exchanges, NFT marketplaces, and funding activities in the crypto space.