Crypto Market Pulse (4/12/2023)

BTC tops US$40,000 for the first time in 19 months. Microstrategy bought more BTC in November. Standard Chartered Bank to join trials for China’s CBDC.

Dec 04, 2023
Crypto Market Pulse

Weekly Market Index

Last week’s crypto market prices rose by +5.60%. Volume and volatility decreased by -4.30% and -19.72%, respectively. Weekly Market Index

Chart of the Week

Bitcoin has broken past US$40K for the first time in 19 months. Meanwhile, after briefly testing US$2K back in April, Ether has now managed to top US$2.2K. Spot ETF developments continue to make headlines. Additionally, BTC’s move higher comes as  gold futures also surge to a record high of US$2,151, after US Federal Reserve Chairman Jerome Powell said interest rates are now ‘well into restrictive territory’. BTC tops $40k ETH $2.2k

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) rose by +8.4% and +7.1%, respectively, in the past seven days. Price action for other selected top-cap tokens was also mostly positive. Selected Top Cap Tokens Price Change

Selected key categories were all up in terms of market cap change in the past seven days, led by Artificial Intelligence. Selected Categories Market Cap Change

News Highlights

  • Franklin Templeton has filed an updated prospectus with the US Securities and Exchange Commission (SEC) for their Bitcoin spot exchange-traded fund (ETF) application.
  • Microstrategy, one of the largest corporate holders of BTC, boosted its holdings in November, buying some 16,130 BTC. The company bought the BTC at an average price of about US$36,785 apiece.
  • Standard Chartered Bank will join trials of China’s digital yuan central bank digital currency (CBDC), the e-CNY, one of the first foreign banks to do so in the country.
  • The Bank for International Settlements (BIS) Innovation Hub has presented the final report on its private central bank digital currency (CBDC) initiative, Project Tourbillon. The report explores the concepts of privacy, security, and scalability using prototypes based on the eCash design by cryptography pioneer David Chaum.

Recent Research Reports

  • Research Roundup Newsletter [October 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in October, charts of the month, and our insights on and SocialFi trends.
  • Friend.Tech: Explore what is, its success factors and criticisms, and some of the competing platforms that have emerged.
  • Alpha Navigator: Quest for Alpha [October 2023]: US Federal Reserve holds steady on interest rates. BTC starts 4Q strong, outperforming other asset classes.

Recent University Articles

Catalyst Calendar Blockchain Launch and Upgrades Macroeconomic Events

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Research and Insights Team


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