Last week’s crypto market prices were flat at +0.36%. Volume and volatility decreased by -13.66% and -69.29%, respectively.
Chart of the Week
New primitives are emerging in today’s multichain ecosystems. This new class of protocols represents novel approaches to cross-chain interoperability. LayerZero is one such project aiming to build omnichain interoperability that unifies dapps from multiple blockchains. It is a cross-chain messaging layer for smart contracts to natively communicate between blockchains (via endpoints). The LayerZero protocol has been gaining traction in Q2 as shown in the growth of addresses interacting with it.
Weekly Performance
Bitcoin (BTC) and Ethereum (ETH) were up slightly at +0.7% and +2.6%, respectively,in the past seven days. Other selected top-cap tokens also mostly rose.
Key categories were mixed in the past seven days, with DeFi outperforming.
News Highlights
Crypto.com to establish its first Global Innovation Lab in Singapore. It will actively experiment with frontier technologies, and explore new ventures with strategic partners and hackathons, to identify novel applications for blockchain, Web3 and AI.
The government of Hong Kong has formed a task force comprising 15 industry participants and 11 key government officials to oversee the development of Web3, with a particular focus on promoting its growth in an ethical manner.
The Chicago Mercantile Exchange (CME) Groupannounced its plans to introduce Ether/Bitcoin Ratio futures. The launch of these futures contracts is slated for July 31, subject to regulatory review.
Research Roundup Newsletter [May 2023]: In our latest issue of Research Roundup, we feature trending market insights in May, charts of the month, and our latest research reports exploring memes — what makes them successful, their role in crypto and Web3, and the resurgence of meme mania.
The Evolution of Memes and What Makes Them Successful:What are memes, how have they evolved, and what makes them successful? We also explore the role they play in crypto and Web3, and what the future holds for memes.
Alpha Navigator: Quest for Alpha [May 2023]: Asset classes mostly dipped in May and crypto remains the best performer YTD. US debt ceiling dispute defused. Interest rate decisions from multiple central banks in the coming month.
Recent University Articles
What Is Sharding? Sharding can improve transaction speed and scalability. Learn what the term means and how sharding works.
Bitcoin Scalability: Challenges and Solutions: This article explores the various challenges associated with Bitcoin’s scalability problem, with potential solutions while maintaining network security.
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Crypto.com establishes its very first Global Innovation Lab. Hong Kong government forms task force for Web3 development. Swiss National Bank to launch wholesale CDBC pilot project.
