Market Update (Week 40, 4/10/2021 – 10/10/2021)

Price and volume indices up, volatility index down. The Shiba Inu price soared by 300% and it is now a Top 20 cryptocurrency.

Key Takeaways

• Shiba Inu’s (SHIB) saw a triple-digit growth rate last week; a variety of factors such as a tweet from Elon Musk, the announcement of ‘Shiboshi’NFTs and rumours about Robinhood listing SHIB seem to have contributed.
• Bitcoin continued double-digit growth in its price index. The Security Exchange Commission (SEC) also approved an indirect Bitcoin Exchange-Traded Fund (ETF) application in which the ETF will invest in companies with exposure to Bitcoin and related supporting infrastructure including cryptocurrency mining; this piece of news may have contributed to the surge, in addition to reports of low spot reserves.
• Fantom (FTM) saw an enormous increase of over 400% in the total value locked (TVL), surpassing Avalanche. It has been speculated that the inclusion of Anyswap in this metric may be inflating the figure.
• The general price index increased+10.43%, the volume index increased +7.06%, while the volatility index decreased -36.89%.

Highlights

• Bitcoin moves past $49K as Facebook, Instagram and WhatsApp go down
• Shiba Inu is now a top-20 cryptocurrency with SHIB price soaring 300% in 9 days
• Axie Infinity raising $150M at $3B valuation: report
• SEC approves indirect Volt Bitcoin investment ETF
• Fantom surpasses AVAX in TVL as it hits a new all-time high
• NFT trading volume surges 700% to $10.7B in Q3
• Polygon transcends Ethereum as MATIC’s active user base explodes
• KuCoin tells users in China to move funds to ‘other platforms’ by 31 De
• Chinese crypto ban makes over 20 crypto-related companies withdraw from China
• Crypto transactions surge 706% in Asia as institutional adoption grows – Chainalysis
• Hong Kong released an official whitepaper of its CBDC
• SEC subpoenas USDC stablecoin backer Circle

Check the latest prices on crypto.com/price.✓

Notable events

Bitcoin (BTC) continued to rally last week, with news of low spot reserves. (ref)

Ethereum (ETH) 2.0 Merger runs successfully on Devnet. (ref)

Stellar Lumen (XLM) grew at a nearly double-digit rate last week, accompanied by its announcement on partnering with ​​international remittance service MoneyGram. (ref)

Tezos (XTZ) reached an all-time high at the end of last week, but then followed by a downward correction. The project announced a partnership with Arab Bank of Switzerland last week. (ref)

Notable events

Crypto Volatility Index (CVI) announced its integration with Chainlink (LINK). (ref)

Yearn Finance (YFI) expanded to include the Fantom chain with its launch on multichain operations. (ref)

Domination Finance with its DomFi platform built on Universal Market Access (UMA) raised $3.2 million in a seed round to scale up its derivatives trading platform. (ref)

Notable events

Shiba Inu (SHIB) saw a tremendous spike in the trading of its perpetual contracts last week. (ref)

Axie Infinity (AXS) Binance Launchpad Lottery Ticket sold at $200 is now worth $250,000. (ref)

The Illuvium (ILV) project is going to set up cross-chain compatibility with the Warena (RENA) metaverse. (ref)

Dawn (DAWN) announced its listing on the global trading platform BitMart Exchange. (ref)

The foundation of Siacoin (SC) is planning a big token burn to get rid of surplus funding. (ref)