Crypto Market Pulse (16/10/2023)

Ferrari to accept cryptocurrency payments in the US. Mastercard tests a new solution to tokenise CBDCs. JPMorgan debuts in-house blockchain tokenisation application.

Oct 16, 2023
Crypto Market Pulse

Weekly Market Index

Last week’s crypto market prices fell by -4.07%. Volume and volatility also dropped by -16.19% and -24.60%, respectively. Weeklly Market Index

Chart of the Week

Ethereum account abstraction is a new paradigm to allow for a more user-friendly experience when interacting with decentralised applications (Dapps). Account abstraction within blockchain systems allows for assets to be exclusively held by smart contracts rather than being controlled by externally-owned accounts (EOAs). The ERC-4337 standard is the account abstraction token standard that aims to unlock the power of smart contract crypto wallets on the Ethereum blockchain. The chart below shows the growth in ERC-4337 user operations (UserOps). These are defined as transactions made by ERC-4337 smart accounts. ERC-4337 Smart Accounts

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) dropped -2.2% and -3.8%, respectively, in the past seven days. Other selected top-cap tokens also mostly fell in price. Selected Top Cap Tokens

Selected key categories decreased in terms of market cap, in the past seven days. Selected Categories Market Cap Change

News Highlights

  • Mastercard announced that it has “successfully demonstrated capabilities of a new solution that enables CBDCs to be tokenised (or ‘wrapped’) onto different blockchains.” The company stated that this solution will provide consumers with “a new option to participate in commerce across multiple blockchains with increased security and ease.”
  • JPMorgan debuted its in-house blockchain-based tokenisation application, the Tokenized Collateral Network (TCN). The application enables the conversion of traditional assets into digital assets and makes way for faster and more secure on-chain settlements.
  • Ferrari will accept cryptocurrency payments for its luxury sports cars in the United States. The decision was driven by market demand and dealer requests, with numerous clients, including crypto-savvy young investors, having invested in digital currencies. The carmaker also plans to accept crypto payments in Europe. 
  • Digital currency and electronic payments business DeCurret Holdings intends to launch a Japanese yen-backed digital currency (DCJPY) in July 2024. The leading issuer of the DCJPY will be the Aozora Bank, a commercial entity with 19 domestic branches in Japan. DeCurret itself is backed by the likes of Japan Post Bank, Mitsubishi, and Dentsu Group.

Recent Research Reports

Recent University Articles

  • What Is Ethereum Gas?: In the world of blockchain, every transaction comes with a cost, known as a ‘gas fee’. Here we explain the importance of gas for the network and how to calculate its cost.
  • What Is Avalanche (AVAX)?: Dive into Avalanche’s AVAX token and learn about its consensus mechanism, tokenomics, and how it compares to other Layer-1 protocols.
  • What Is MakerDAO (DAI)?: Learn about the DAO of DAOs and its stablecoin, DAI — including how to use, trade, and create it.

Catalyst Calendar Blockchain Launch and Upgrades Macroeconomic Events


Research and Insights Team


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Ethereum / Dogecoin / Dapp / Tokens