Crypto Market Pulse (11/12/2023)

Crypto.com is authorised as an Electronic Money Institution in the UK. CME BTC futures open interest reaches new highs. Societe Generale issues its first digital green bond on Ethereum.

Weekly Market Index

Last week’s crypto market prices rose by +11.07%. Volume increased by +50.46% and volatility decreased by -17.86%.

Chart of the Week

Bitcoin futures open interest has reached a new high for the year at US$4.87B (as of 10 Dec 2023) on the Chicago Mercantile Exchange (CME). Open interest is the total number of outstanding contracts for a particular asset that has not been settled. It is commonly used as an indication of whether money flows are increasing or decreasing.

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) rose by +4.8% and +4.0%, respectively, in the past seven days. Price action for other selected top-cap tokens was also mostly positive, with AVAX leading.

Selected key categories were all up in terms of market cap change in the past seven days, led by Meme.

News Highlights

• Crypto.com has been authorised as an Electronic Money Institution (EMI) by the UK’s Financial Conduct Authority (FCA). With this EMI authorisation, Crypto.com will offer a suite of UK-localised e-money products.
• Bitcoin Core version 26.0 was released last week. This latest update to the primary software used by nodes to interact with the Bitcoin network introduces key enhancements aimed at improving security and network performance.
• Societe Generale issued its first digital green bond on the Ethereum blockchain. The bond has a value of 10 million euros and a maturity of three years. Its proceeds will be used to finance “green” activities. The bank also launched its euro-pegged stablecoin, EURCV, on a crypto exchange.
• Brazilian bank Itau Unibanco has reportedly launched a Bitcoin and Ether trading service for its clients as part of its investment platform.

Recent Research Reports

• Alpha Navigator: Quest for Alpha [November 2023]: Peak rates hopes are growing following recent US and Europe economic releases. Risk assets were mostly up in November, led by ETH.
• Issuing Tokens on the Bitcoin Network: Explore the latest innovations in token issuance on the Bitcoin Network. We look at BRC-20, Atomicals, Taproot Assets and Nostr Assets.
• 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 friend.tech and SocialFi trends.

Recent University Articles

• What Is Aptos (APT)?: In this article, we discover how Aptos is designed to tackle blockchain’s challenges and make it scalable, safe, and cost-efficient.
• Data Tokenisation: What It Is and Why It Matters for Crypto: Learn all about data tokenisation, how it works on the blockchain, and its application in crypto and other industries.
• Bitcoin Spot vs Futures ETFs Explained: Learn the difference between BTC spot vs futures ETFs — and why the Bitcoin spot ETFs haven’t yet been approved by the SEC.

Catalyst Calendar

Author

Research and Insights Team

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