Crypto Market Pulse (23/07/2023)

Reddit tokens MOON and BRICK surge on terms of service change. Bäumer Vendôme launches jewellery NFT collection on NFT.

Jul 24, 2023
Crypto Market Pulse

Weekly Market Index

Last week’s crypto market prices were down -7.57%. Volume and volatility also fell by -25.92% and -72.08%, respectively. Weekly Market Index 24 Jul

Chart of the Week

Moons (MOON), the native token of Reddit’s r/CryptoCurrency community of over 6.5 million users surged last week. The Bricks (BRICK) token, which is distributed as a reward for contributions in the r/Fortnite subreddit, also rallied. Markets speculated that the recent change in Reddit’s Terms of Service, which now explicitly allows for trading of Reddit’s tokenised Community Points, was likely the catalyst for the price increases.

Check out University’s article on What Are Reddit’s MOON and BRICK Tokens? Reddit MOON and BRICK tokens

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) were down slightly at -0.9% and -2.1%, respectively,in the past seven days. Price action for other selected top-cap tokens was mixed. Selected Top Cap Tokens Price Change 24 Jul

Market cap changes for key categories were mixed in the past seven days. Selected Categories Market Cap Change 24 Jul

News Highlights

Recent Research Reports

  • Research Roundup Newsletter [June 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in June, charts of the month, and our latest research exploring ZK rollups and Layer-0 protocols.
  • The Development of ZK Rollups: Zero-knowledge rollups (ZK rollups) are still in their nascent stage. However, as the technology evolves, various methods to achieve compatibility with the Ethereum Virtual Machine (EVM) have emerged.
  • Layer-0: Infrastructure for Customised Blockchains: Layer-0 protocols are the infrastructure that customised Layer-1 blockchains can be built on. We explore notable projects like Cosmos, Polkadot, Avalanche, LayerZero, and zkLink.
  • Alpha Navigator: Quest for Alpha [June 2023]: Asset classes finished the first half of 2023 strongly, with crypto in the lead. Decelerating US inflation readings could ease market concerns for the time being, while BTC options implied volatilities remain muted.

Recent University Articles

  • How to Stake Ethereum?: Unlock the potential of Ethereum by staking ETH on and earning rewards while helping to secure the network.
  • What Are Reddit’s MOON and BRICK Tokens?: In this article, learn what Reddit’s MOON and BRICK tokens are, what they’re used for, and how to buy them.
  • What Is XRP (Ripple)?: One of the largest cryptocurrencies by market cap, XRP is used by financial institutions, corporations, and end users across the globe for fast payments. Read on to learn more about this altcoin.

Catalyst Calendar

Blockchain Launches and Upgrades 24 Jul
Macroeconomic Events 24 Jul


Research and Insights Team


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