Crypto Market Pulse (7/11/2022)

MATIC surges 27.8%. Instagram will allow minting of NFTs using the Polygon blockchain. Deribit suffers security breach, hackers take $28M.

Nov 07, 2022
Crypto Market Pulse

Weekly Market Index

Last week’s crypto market prices were up slightly at +3.7%, while volume and volatility were down -3.7%, and -38.7%, respectively.

Weekly Market Index

Weekly Performance

Bitcoin (BTC) is holding above the $20K price level and was up +1.1% last week, while Ethereum (ETH) was down -1.3%. Amongst other selected top-cap crypto tokens, Polygon (MATIC) surged +27.8% and Litecoin (LTC) rose +26.5%. Potentially behind MATIC’s rally might be Meta’s announcement that Instagram will allow creators to mint NFTs using the Polygon blockchain.

Selected Top Cap Tokens Price Change

Project Spotlight

  • Ribbon Finance is a suite of DeFi protocols that helps users access crypto structured products. By combining derivatives, lending, and a proprietary on-chain options exchange (Aevo), Ribbon aims to be a one-stop solution for users who want to improve a portfolio’s risk-return profile.
  • The native token of Ribbon Finance is RBN, which is available for trading on the App. RBN has a circulating supply of 572.01 million and a max supply of 1 billion. The token is used for governance voting. The majority of token distribution is to Community Treasury (49%), Team (23%), and Investors (15%). Earlier this year, Ribbon Finance raised US$8.8M from venture capital firm Paradigm.

News Highlights

Recent Research Reports

  • Alpha Navigator (Oct 2022): Crypto continues to outperform other asset classes in October. Is the Fed pivoting on rates tightening policy? ETH’s short-term correlations with equities reducing.
  • NFT Financialisation and Utility: An Overview: As NFT utility grows, so does the potential to make money from them. NFT financialisation could help to achieve greater liquidity and unlock the value of NFTs.
  • NFT Utility: A Multifaceted Overview and Use Cases: For NFTs to increase value and to be deemed viable economic and financial assets, they have to go beyond collectability and aesthetics. One way to tackle this is through utility.

Catalyst Calendar

Blockchain Launch and Upgrades
Crypto Conferences


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