Last week’s crypto market prices fell by -2.35%. Volume increased by +3.71% while volatility decreased by -33.63%.
Chart of the Week
The Ethereum price is on the verge of a golden cross, following recent similar developments in Bitcoin’s price. A golden cross is a technical analysis sign commonly interpreted as strengthening bullish momentum in which the 50-day moving average (MA) overtakes the 200-day MA on an upward trajectory. A golden cross indicates that short-term price momentum is outperforming the long-term.
Weekly Performance
Bitcoin (BTC) was flat at +0.6% while Ethereum (ETH) fell slightly by -2.3% in the past seven days. Other selected top-cap tokens mostly dropped in price.
Selected key categories were mixed in terms of market cap change in the past seven days. Artificial Intelligence saw a significant gain.
News Highlights
Crypto.com announced that its Dubai entity, CRO DAX Middle East FZE, has been granted a Virtual Assets Service Provider (VASP) licence for specified virtual asset service activities by Dubai’s Virtual Assets Regulatory Authority (VARA).
SC Ventures, the investment and innovation arm of Standard CharteredBank, has launched a tokenisation platform called Libeara. It aims to enable fund managers, governments and issuers to bring real-world assets on-chain.
The Monetary Authority of Singapore (MAS) released a whitepaper focused on interoperability for digital assets, developed in collaboration with financial institutions including JPMorgan’s Onyx unit, HSBC, Standard Chartered, and Swift, among others, as well as crypto firms Chainlink, LayerZero and Ava Labs.
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.
Friend.Tech: Explore what friend.tech is, its success factors and criticisms, and some of the competing platforms that have emerged.
Liquid Staking: What It Is and How It Works: Liquid staking is a revolutionary tool in the cryptocurrency space, allowing users to access staked tokens. Here’s how it works.
What Is Uniswap (UNI)?: Learn about Uniswap, an exchange on the Ethereum blockchain that uses the Automated Market Maker model and liquidity pools for decentralised trading.
Catalyst Calendar
Author
Research and Insights Team
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Crypto.com granted Virtual Asset Service Provider licence in Dubai. Fidelity and BlackRock apply for spot ETH ETFs. CBOE to launch BTC and ETH margin futures trading in Jan 2024.
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