Last week’s crypto market prices dropped by -2.46%. Volume increased by +3.39% and volatility decreased by -9.93%.
Chart of the Week
Global asset classes ended the year 2023 mostly up in terms of price action. BTC led significantly with a +154.3% gain, followed by ETH at +91.3%. Check out more key trends of 2023, followed by our outlook for 2024 in our new report: 2023 Year Review & 2024 Year Ahead.
Weekly Performance
Bitcoin (BTC) and Ethereum (ETH) rose by +3.3% and +4.9%,respectively, in the past seven days. Price action for other selected top-cap tokens was mixed.
Selected key categories mostly rose in terms of market cap change in the past seven days, led by Layer-2.
News Highlights
Asset managers BlackRock, Valkyrie and Van Ecksubmitted amended S-1 forms to the US Securities and Exchange Commission (SEC). The forms are revisions of their previous applications to create Bitcoin exchange-traded funds (ETFs) and contain updates such as Blackrock’s naming of Jane Street and JPMorgan Securities as authorised participants.
MicroStrategy, one of the largest corporate holders of Bitcoin, boosted its holdings in December 2023, buying 14,620 BTC at an average price of US$42,620 This purchase brings their total to 189,150 BTC.
Ethereum co-founder Vitalik Buterin has shared the Ethereum roadmap for 2024 in a series of posts on X (formerly Twitter). This follows a recent blog also by Buterin in which he opined wanting to bring back the original idea of the “cypherpunk” revolution for the blockchain. Buterin highlighted that rollups, zero-knowledge proofs, account abstraction, and second-generation privacy solutions could support certain values associated with “cypherpunk” principles.
Bitcoin network computing power — or mining hash rate — reached a new all-time high last week, but has put more pressure on miners amid a slump in profitability.
Research Roundup Newsletter [November 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in November, charts of the month, and our exploration of new developments within the Bitcoin ecosystem.
2023 Year Review & 2024 Year Ahead: 2023 has been an eventful year for the crypto industry. In this report, we curate the top crypto events and trends of 2023, followed by our outlook for 2024.
Bitcoin Halving 2024: What to Know: In this article, learn the dynamics of Bitcoin halving — what previous events have shown, and what future ones may involve.
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