Crypto Market Pulse (14/08/2023)

Crypto.com and Xsolla partner to integrate payment solutions. PayPal launches Ethereum-based stablecoin PYUSD. Brazil to launch CBDC dubbed “DREX” in 2024.

Aug 14, 2023
Crypto Market Pulse

Weekly Market Index

Last week’s crypto market prices were up slightly at +1.31%. Volume dropped by -7.45% while volatility increased by +47.48%.

Weekly Market Index 14 Aug

Chart of the Week

In our latest feature report Real-World Assets: Bringing Real-World Value to DeFi, we explore the Real World Assets (RWA) landscape. RWA tokens are essentially representations of assets (such as stocks, bonds, money markets, real estate, and commodities) that are not inherently native to the blockchain. The chart below shows the growth in the number of RWA token holders on the Ethereum blockchain.

Crypto.com RWA Token Holders on Ethereum

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) prices were flat +0.5% and +0.1%, respectively, in the past seven days. Price action for other selected top-cap tokens was mixed, with ApeCoin (APE) posting a double-digit percentage gain.

Crypto.com Selected Top-Cap Tokens Price Change 14 Aug

Selected key categories were mostly up on market cap change in the past seven days, with Artificial Intelligence the best performer.

Crypto.com Selected Categories Market Cap Change 14 Aug

News Highlights

  • Xsolla, a global video game commerce company, and Crypto.com have announced a partnership for the integration of Crypto.com’s checkout solution into Xsolla’s Pay Station platform.
  • PayPal launched a new Ethereum-based stablecoin called PayPal USD (PYUSD). The US. dollar-pegged stablecoin will be issued by Paxos Trust Co. and fully backed by US dollar deposits, short-term Treasuries and similar cash equivalents. 
  • Visa has been working on an experimental solution that allows for the payment of on-chain gas fees with a Visa card. The proposed solution leverages Ethereum’s ERC-4337 account abstraction standard and a feature known as the “paymaster” smart contract, which facilitates off-chain gas fee payments.
  • The Central Bank of Brazil has unveiled its upcoming digital currency, ‘DREX.’ It will be a digital representation of the Brazilian real, with the capacity to interact with other digital assets, and is projected to launch in 2024.

Recent Research Reports


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Catalyst Calendar

Blockchain Launch and Upgrades
Macroeconomic Events

Author

Research and Insights Team

Disclaimer:

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