Weekly Market Index
Last week’s crypto market prices were down -1.12%. Volume fell by -14.48% while volatility increased by +102.68%.
Chart of the Week
Worldcoin (WLD), a new token that launched last week along with its mainnet, is making the crypto news headlines. It is a project founded by OpenAI co-founder Sam Altman and proposes a novel solution to differentiate humans from Artificial Intelligence (AI) in the digital landscape. However, Worldcoin has faced criticism, particularly for its use of biometric data (eye scans) for identity verification.
Check out Crypto.com University’s article on What Is WorldCoin? The New Digital Identity Token.
Weekly Performance
Bitcoin (BTC) and Ethereum (ETH) prices were down slightly at -1.4% and -0.3%, respectively,in the past seven days. Price action for other selected top-cap tokens was mixed.
Layer-2 led market cap change among selected key categories.
News Highlights
- Crypto.com has been approved for registration with De Nederlandsche Bank (DNB) as a provider of crypto services.
- Crypto.com and LINE Xenesis have announced a Memorandum of Understanding (MoU) to advance the latest cryptocurrency business solutions developed by Crypto.com through the LINE user network. LINE Xenesis is the crypto asset and blockchain-related business developer of LINE, the global messenger app with approximately 200 million monthly active users.
- Palau, a country comprising some 340 islands in the Pacific Ocean, is running a trial of a stablecoin linked to the US dollar. The stablecoin will run on the Ripple (XRP) ledger.
- A consortium of companies, including Polygon Labs, is receiving support from a research hub backed by Italy’s central bank in a bid to develop an ecosystem for traditional financial institutions to wade deeper into DeFi.
- The US Federal Reserve raised interest rates by a quarter percentage point to a target range of 5.25%-5.50%, in line with market expectations. The midpoint of that target range would be the highest level for the benchmark rate since early 2001.
Recent Research Reports
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| Research Roundup Newsletter [June 2023] | The Development of ZK Rollups | Layer-0: Infrastructure For Customised Blockchains |
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| Research Roundup Newsletter [June 2023] | |
| The Development of ZK Rollups | |
| Layer-0: Infrastructure For Customised Blockchains |
- 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
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| What Is WorldCoin? The New Digital Identity Token | Top Crypto Utility Tokens to Know in 2023 | Crypto and IOT – How They Work Together, Plus IOT Tokens to Know |
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| What Is WorldCoin? The New Digital Identity Token | |
| Top Crypto Utility Tokens to Know in 2023 | |
| Crypto and IOT – How They Work Together, Plus IOT Tokens to Know |
- What Is WorldCoin? The New Digital Identity Token: Delve into the workings of Worldcoin (WLD), an ambitious digital identity token co-founded by the CEO of OpenAI.
- Top Crypto Utility Tokens to Know in 2023: In this guide, we explore the top crypto utility tokens in 2023, delving into their unique use cases and potential growth in the market.
- Crypto and IOT – How They Work Together, Plus IOT Tokens to Know: Learn how the Internet of Things (IoT) and blockchain are working together to revolutionise the way we trade digital assets and tokens.
Catalyst Calendar
Author
Research and Insights Team
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