Last week’s crypto market prices were up +10.10%. Volume and volatility also increased by +20.76% and +72.69%, respectively.
Weekly Performance
Bitcoin (BTC) and Ethereum (ETH) were up +5.6% and +12.5% in the past seven days, respectively. Other selected top-cap tokens also mostly rose.
News Highlights
Ethereum successfully completed its Shanghai upgrade, which introduces an important new feature that allows validators who previously staked ETH to withdraw those tokens for the first time.
The US consumer price indexrose 5% YoY in March, below market expectations. The data showed that while inflation is still well above the Federal Reserve’s policy target of 2%, it is showing continuing signs of decelerating.
Hong Kong’s biggest virtual bank, ZA Bank (ZA), will offer crypto-to-fiat currency conversions over licensed exchanges. ZA will act as a settlement bank for clients to allow withdrawals in Hong Kong, China and US currencies after they deposit crypto tokens with exchanges.
Monthly Research Roundup (March 2023): In this issue, we feature trending market insights, our latest Crypto.com Visa Card Consumer Spending Insights for 2022, and our research reports on liquid staking derivatives.
Liquid Staking Derivatives: Money Legos in DeFi: Liquid staking is now the second largest sector in crypto after DEXes, replacing DeFi lending. Today the liquid staking narrative remains strong in anticipation of Ethereum’s Shanghai upgrade, and this report explores its current landscape.
Alpha Navigator: Quest for Alpha [March 2023]: Bitcoin shines amid banking sector turmoil. Market expects a pause in rate hikes, potentially setting up new tailwind for risk assets.
Catalyst Calendar
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Author
Research and Insights Team
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