Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
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News FeedWeb3, Blockchain, and Crypto Weekly Update: Major News, Market Trends, and Key Insights
News FeedWeb3, Blockchain, and Crypto Weekly Update: Major News, Market Trends, and Key InsightsWeb3, Blockchain, and Crypto Weekly Update: Major News, Market Trends, and Key Insights
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The post Web3, Blockchain, and Crypto Weekly Update: Major News, Market Trends, and Key Insights appeared first on Coinpedia Fintech News
Welcome to your go-to source for all things Web3, Blockchain and Crypto! Our Weekly report dives into the freshest updates and game-changing developments in the fast-paced world. We curate the best data from trusted sources to keep you ahead of the curve. Ready to stay informed and inspired? Let’s explore the latest trends and insights together!
1. Web3, Blockchain & Crypto Breaking News This Week
Here are the major breaking news reports, related to the Web3, Blockchain and crypto world, reported this week.
- Consumer Price Index Rises to 3.4% in April; Bitcoin Price Surges to $64k
The Consumer Price Index increased by 3.4% over the past year, exceeding expectations of a 2.9% rise. Parallely, Bitcoin’s price jumped to $64,000.
- Senate Passes Bill Overturning SEC’s Crypto Guidelines
The Senate passed H.J. res, 109 to overturn SEC’s guidelines on cryptocurrency accounting, potentially allowing banks to hold Bitcoin and other digital assets. President Biden may veto the bill, adding uncertainty to the regulatory landscape.
- El Salvador Mines Bitcoin Using Volcanic Geothermal Energy
El Salvador has mined 474 Bitcoins, worth $29 million, using geothermal energy from the Tecapa volcano. The country’s total Bitcoin holdings are now 5,750, valued at $354 million, showcasing a green approach to accumulating cryptocurrency.
- Binance Executive Denied Bail in Nigerian Court Case
Justice Emeka Nwite denied bail to Tigran Gambaryan, a Binance executive accused of money laundering and tax violations in Nigeria. The legal proceedings highlight the regulatory challenges facing major cryptocurrency companies.
- Bill Proposed to Abolish Federal Reserve Amid Inflation
Representative Thomas Massie introduced a bill to abolish the Federal Reserve, blaming its policies for high inflation. He argues that the Fed’s actions during the COVID-19 pandemic devalued the dollar, pushing people towards cryptocurrencies as alternative stores of value.
2. Blockchain Weekly Analysis
The blockchain weekly analysis primarily covers the blockchain dominance analysis and the blockchain 7-day change analysis. In order to bring more clarity, the Layer 1 chains and Layer 2 chains are analysed separately.
2.1. Blockchain Dominance Analysis
Ethereum, TRON, BNB Smart chain, Solana, and Arbitrum One are the top five blockchains as per dominance and TVL.
| Blockchains | Dominance | TVL |
| Ethereum | 60.71% | $52,713,518,411 |
| TRON | 9.92% | $8,610,792,735 |
| BNB Smart Chain | 6.98% | $6,059,524,171 |
| Solana | 5.22% | $4,528,351,343 |
| Arbitrum One | 3.04% | $2,641,783,459 |
Among the top five chains, Ethereum dominates with 60.71%. TRON and BNB Smart Chain follow with 9.92% and 6.98%. Solana has a dominance of 5.22% and Arbitrum One 3.04%.
2.1.1. Top Five Layer 1 Chains By Dominance
Ethereum, BNB Smart Chain, Solana, Bitcoin and Avalanche are the top five Later 1 Blockchains.
| Layer 1 Blockchains | Dominance | TVL |
| Ethereum | 77.31% | $52,646,879,307 |
| BNB Smart Chain | 8.89% | $6,051,863,873 |
| Solana | 6.64% | $4,522,626,716 |
| Bitcoin | 1.64% | $1,115,232,049 |
| Avalanche | 1.38% | $942,995,040 |
Among the top five Layer 1 chains, Ethereum dominates with a dominance of 77.31%. BNB Smart Chain and Solana follow with 8.89% and 6.64%, respectively. Bitcoin marks 1.64% dominance, and Avalanche registers 1.38% dominance.
2.1.2. Top Five Layer 2 Chains By Dominance
Arbitrum One, Base, Blast, Polygon POS, and Optimism are the top five Layer 2 Blockchains.
| Layer 2 Blockchains | Dominance | TVL |
| Arbitrum One | 29.85% | $2,635,176,183 |
| Base | 17.29% | $1,526,465,299 |
| Blast | 17.08% | $1,508,006,967 |
| Polygon POS | 10.19% | $899,505,619 |
| Optimism | 8.83% | $779,597,461 |
Among the top five Layer 2 chains, Arbitrum One dominates with a dominance of 29.85%. Base and Blast closely follow with 17.29% and 17.08%, respectively. Polygon POS marks a dominance of 10.19%, and Optimism records a dominance of 8.83%.
2.2. Blockchain 7-Day Change Analysis
Let’s analyse the top five Layer 1 chains using the 7-day change index.
| Layer 1 Blockchains | 7-Day Change |
| Ethereum | -1.8% |
| BNB Smart Chain | -3.4% |
| Solana | +9.5% |
| Bitcoin | -7.0% |
| Avalanche | +1.6% |
Among the top five chains, only Solana and Avalanche show positive changes. Solana registers the highest positive change of +9.5%, while Avalanche records an moderate positive change of +1.6%. Bitcoin showcases the highest negative change of -7.0%. BNB smart Chain and Ethereum mark moderate negative changes of -3.4% and -1.8%, respectively.
Let’s analyse the top five Layer 2 chains using the 7-day change index.
| Layer 2 Blockchains | 7-Day Change |
| Arbitrum One | +0.9% |
| Base | -2.3% |
| Blast | -0.1% |
| Polygon POS | -0.4% |
| Optimism | -8.3% |
Among the top five Layer 2 chains, only Arbitrum One displays a positive change; it records a very moderate positive change of +0.9%. The highest negative change is shown by Optimism, with -8.3% change. Base shows a moderate change of -2.3%. Polygon POS and Blast showcase very moderate changes of -0.4% and -0.1%.
3. Cryptocurrency Weekly Analysis
The Cryptocurrency Weekly analysis covers a wide range of analyses, from the general cryptocurrency market cap analysis and the top gainers and losers analysis to the Stabelcoin, Memecoin, AI Coins and Metaverse Coins analyses.
3.1. Top Cryptocurrency Categories By Market Cap
Layer 1 (LI), Smart Contract Platform, Andreessen Horowitz (a16z) Portfolio, Alameda Research Portfolio, and Alleged SEC Securities are the top five cryptocurrency categories by Market Cap. The Layer 1 (L1) category, with $1,975,884,413,592 market cap, is the one with the highest market cap. The Smart Contract Platform category follows with $678,209,531,506.
| Crypto Categories | Market Cap | 7-Day Change |
| Layer 1 (L1) | $1,975,884,413,592 | +3.6% |
| Smart Contract Platform | $678,209,531,506 | +1.1% |
| Andreessen Horowitz (a16z) Portfolio | $529,706,320,259 | +1.5% |
| Alameda Research Portfolio | $476,950,967,546 | +1.4% |
| Alleged SEC Securities | $254,824,240,832 | +2.7% |
Among the top five crypto categories, Layer 1 (L1) marks the highest 7-day change of +3.6%. Alleged SEC Securities closely follows with +2.7%. Andreessen Horowitz (a16z) Portfolio, Alameda Research Portfolio, and Smart Contract Platform record +1.5%, +1.4% and +1.1% change, respectively.
3.1.1. Trending Categories This Week
Wall Street Bets Themed Coins, Parody Meme Coins, PolitiFi, Base Meme Coins, Cat-Themed Coins, and DePIN are the most trending categories this week.
| Trending Categories | Market Cap |
| Wall Street Bets Themed Coins | $59.4M |
| Parody Meme Coins | $496M |
| PolitiFi | $819M |
| Base Meme Coins | $942M |
| Cat-Themed Coins | $1.74B |
| DePIN | $29.3B |
Among the trending categories, DePIN stands out as it has an impressive market cap of $29.3B, which is the highest among the six. Cat-themed coins follow with a market cap of $1.74B. Base Meme Coins and PolitiFi record $942M and $819M market cap, respectively. Parody Meme Coins and Wall Street Bets Themed Coins register $496M and $59.4M market cap, respectively.
3.2. Top Cryptocurrencies By Market Cap
Bitcoin, Ethereum, Tether, BNB, and Solana are the top five cryptocurrencies by market cap. Bitcoin has the highest market cap of $1,308,281,130,156. Ethereum follows with a market cap of $364,014,920,398.
| Cryptocurrencies | Market Cap | 7-Day Change |
| Bitcoin | $1,308,281,130,156 | +5.2% |
| Ethereum | $364,014,920,398 | -0.7% |
| Tether | $111,655,892,722 | +0.3% |
| BNB | $89,098,450,093 | -2.8% |
| Solana | $75,786,549,695 | +9.0% |
Among the top five cryptos, Solana, Bitcoin and Tether show positive changes this week. Solana marks the highest 7-day change of +9.0%. Bitcoin follows with a change of +5.2%. Tether shows a moderate change of +0.3%. BNB and Etheruem display negative changes. BNB records a negative change of -2.8%, and Ethereum a very moderate negative change of -0.7%.
3.2.1. Trending Coins This Week
Apu Apustaja, Drift Protocol, Brett, Ondo, and Toncoin are the most trending cryptocurrencies at the time of preparing this analysis.
| Trending Cryptocurrencies | Market Cap |
| Apu Apustaja | $286,023,118 |
| Drift Protocol | $54,742,896 |
| Brett | $360,132,340 |
| Ondo | $1,353,833,209 |
| Toncoin | $23,478,151,394 |
Among the trending cryptos, Toncoin has the highest market cap of $23,478,151,394. Ondo follows with $1,353,833,209. Brett and Apu Apustaja show $360,132,340 and $286,023,118, respectively. Drift Protocol displays the lowest market cap of $54,742,896.
3.2.2. Top Gainers & Losers This Week
GME, MAGA VP, SIPHER, ConstitutionDAO, and Spectral are the top gainers of the week as per the 7-day gain index.
| Top Gainers | 7-Day Gain |
| GME | +1222.2% |
| MAGA VP | +185.2% |
| SIPHER | +161.5% |
| ConstitutionDAO | +81.0% |
| Spectral | +68.1% |
GME records the highest gain of +1222.2%. MAGA VP and SIPHER follow with +185.2% and +161.5%, respectively. ConstitutionDAO and Spectral record +81.0% and +68.1% gain, respectively.
Shark Cat, ALEX Lab, PunkCity, NORMIE, and Entangle are the top losers of the week as per the 7-day loss index.
| Top Losers | 7-Day Loss |
| Shark Cat | -46.5% |
| ALEX Lab | -40.5% |
| PunkCity | -37.8% |
| NORMIE | -35.7% |
| Entangle | -35.7% |
Shark Cat displays the highest loss of -46.5%. ALEX Lab and PunkCity closely follow with -40.5% and -37.8%, respectively. Both NORMIE and Entangle mark -a 35.7% loss.
3.3. Top Stablecoins Analysis
Tether, USDC, Dai, First Digital USD, and Ethena USDe are the top five stablecoins as per market cap.
| Stablecoins | Market Cap |
| Tether | $111,404,518,043 |
| USDC | $33,344,450,829 |
| Dai | $5,454,605,060 |
| First Digital USD | $3,611,060,209 |
| Ethena USDe | $2,349,531,273 |
Tether has the highest market cap of $111,404,518,043. USDC and Dai follow with $33,344,450,829, and $5,454,605,060 market cap, respectively. First Digital USD registers a market cap of $3,611,060,209, and Ethena USDe records a market cap of $2,349,531,273.
3.4. Top Memecoins 7-Day Change Analysis
Dogecoin, Shiba Inu, Pepe, dogwifhat, FLOKI are the top five Memecoins as per market cap. Dogecoin has the highest market cap of $22,198,117,707. Shiba Inu and Pepe follow with $14,672,691,432 and $4,284,171,989 market cap, respectively.
| Memecoins | Market Cap | 7-Day Change |
| Dogecoin | $22,198,117,707 | +0.7% |
| Shiba Inu | $14,672,691,432 | +5.6% |
| Pepe | $4,284,171,989 | +17.5% |
| dogwifhat | $2,876,263,223 | -9.8% |
| FLOKI | $2,070,321,488 | +18.0% |
Among the top five Memecoins, only dogwifhat shows a negative 7-day change. FLOKI displays the highest positive change of +18.2%. Pepe closely follows with +17.5%. Shiba Inu marks a change of +5.6%. Dogecoin showcases a moderate positive change of +0.7%. Conversely, dogewifhat records a negative change of -9.8%.
3.5. Top AI Coins 7-Day Change Analysis
Internet Computer, Fetch-ai, Render, The Graph, and Bittensor are the top five AI Coins as per market cap. Internet Computer has the highest market cap of $6,042,458,734. Fetch-ai and Render closely follow with $5,781,641,812 and $3,959,699,597 market cap, respectively.
| AI Coins | Market Cap | 7-Day Change |
| Internet Computer | $6,042,458,734 | +4.9% |
| Fetch-ai | $5,781,641,812 | -1.0% |
| Render | $3,959,699,597 | -10.1% |
| The Graph | $2,950,787,914 | +1.9% |
| Bittensor | $2,614,077,112 | -2.1% |
Among the top five AI coins, only two display positive changes this week. Internet Computer marks a positive 7-day change of +4.9%. The Graph shows a moderate positive change of +1.9%. Render records the highest negative change of -10.1%. Bittensor and Fetch-ai follow with -2.1% and -1.0%.
3.6. Top Metaverse Coins 7-Day Change Analysis
Render, FLOKI, Axie Infinity, The Sandbox, and Decentraland are the top five Metaverse Coins on the basis of market cap. Render has the highest market cap of $3,961,011,301. FLOKI, Axie Infinity, and The Sandbox closely follow with $2,057,557,670, $1,064,252,244, and $1,009,956,073 market cap, respectively.
| Metaverse Coins | Market Cap | 7-Day Change |
| Render | $3,961,011,301 | -10.5% |
| FLOKI | $2,057,557,670 | +18.0% |
| Axie Infinity | $1,064,252,244 | -5.0% |
| The Sandbox | $1,009,956,073 | -0.9% |
| Decentraland | $814,803,203 | -1.0% |
Among the top five metaverse coins, only FLOKI shows a positive 7-day change; it records a change of +18.0%. Render, showing -10.5% change, registers the highest negative change. Axie Infinity showcases a change of -5.0%. Decentraland (-1.0% change) and The Sandbox (-0.9% change) only display moderate negative changes.
4. Crypto ETF Weekly Analysis
The crypto ETF weekly analysis covers Bitcoin Spot ETFs, Bitcoin Futures ETFs, and Ethereum Futures ETFs.
4.1. Bitcoin Spot ETF Price Change Analysis
GBTC, IBIT, FBTC, ARKB and BITB are the top five Bitcoin Spot ETFs based on Asset Under Management. GBTC marks the highest AUM of $24.33 billion. IBIT closely follows with an AUM of $17.24 billion.
| Bitcoin Spot ETFs | Price | Change | AUM |
| Grayscale (GBTC) | $58.02 | -1.36% | $24.33B |
| BlackRock (IBIT) | $37.15 | -1.38% | $17.24B |
| Fidelity (FBTC) | $57.02 | -1.43% | $9.90B |
| Ark/21 Shares (ARKB) | $65.22 | -1.27% | $2.85B |
| Bitwise (BITB) | $35.53 | -1.47% | $2.16B |
Among the top five Bitcoin Spot ETFs, none display positive changes. BITB shows the highest negative change of -1.47%. FBTC closely follows with -1.43%. IBIT and GBTC mark -1.38% and -1.36% change, respectively.
4.2. Bitcoin Futures ETF Price Change Analysis
BITO, XBTF, BTF, BITS, and ARKA are the top five Bitcoin Futures ETFs as per Asset Under Management.
| Bitcoin Futures ETFs | Price | Change | AUM |
| ProShares (BITO) | $26.49 | -1.30% | $598.78M |
| VanEck (XBTF) | $39.22 | +0.33% | $42.41M |
| Valkyrie (BTF) | $18.25 | -1.93% | $38.20M |
| Global X (BITS) | $64.10 | -0.94% | $26.10M |
| Ark/21 Shares (ARKA) | $62.17 | -1.52% | $8.10M |
Among the top five Bitcoin Futures ETFs, only XBTF displays a positive change of +0.33%. The highest negative change is shown by BTF. ARKA and BITO closely follow with -1.52% and -1.30% change, respectively. BITS marks a moderate negative change of -0.94%.
4.3. Ethereum Futures ETF Price Change Analysis
BITW, BTF, EFUT, EETH, and AETH are the top five Ethereum Futures ETFs based on Asset Under Management.
| Ethereum Futures ETFs | Price | Change | AUM |
| Bitwise (BITW) | $31.55 | -1.31% | $478.00M |
| Valkyrie (BTF) | $18.25 | -1.93% | $25.93M |
| VanEck (EFUT) | $24.16 | -1.88% | $7.84M |
| ProShares (EETH) | $63.87 | -2.86% | $6.43M |
| Bitwise (AETH) | $38.69 | -2.73% | $585.75K |
Among the top five Ethereum Futures ETFs, none record positive changes. The highest negative change is displayed by EETH (-2.86%). AETH closely follows with -2.73%. BTF and EFUT record -1.93% and -1.88% change, respectively. BITW registers a change of -1.31%.
5. DeFi Protocols Weekly Analysis
Lido, EigenLayer, AAVE, Maker and JustLend are the top five DeFi protocols as per Total Value Locked.
| DeFi Protocols | TVL | 7-Day Change |
| Lido | $28.549B | +0.12% |
| EigenLayer | $14.919B | -0.67% |
| AAVE | $10.936B | +2.77% |
| Maker | $8.25B | +0.61% |
| JustLend | $6.431B | +4.07% |
Among the top five DeFi Protocols, all of them show positive 7-day changes except Eigen Layer, which records a negative change of -0.67%. The highest positive change is shown by JustLend, which registers a change of +4.07%. AAVE follows with a change of +2.77%. Maker and Lido display moderate positive changes of +0.61% and +0.12%.
6. Crypto Exchange Weekly Analysis
6.1. Top Crypto Centralised Exchanges
Based on monthly visits, Binance, Coinbase Exchange, Bybit, OKK, and WhiteBIT are the top five crypto centralised exchanges.
| Crypto Centralised Exchanges | Monthly Visits | Trust Score |
| Binance | 101M | 9/10 |
| Coinbase Exchange | 65.7M | 10/10 |
| Bybit | 39.1M | 10/10 |
| OKK | 30.5M | 10/10 |
| WhiteBIT | 22.9M | 8/10 |
Binance records the highest monthly visit of 101M. Coinbase Exchange follows with 65.7M. Bybit and OKK record 39.1M and 30.5M monthly visits. WhiteBIT registers 22.9M monthly visits.
Among the top crypto centralised exchanges, at least three, Coinbase Exchange, Bybit and OKK have the impressive trust score of 10/10. Binace has a trust score of 9/10, and WhiteBIT has a score of 8/10.
6.2. Top Crypto Decentralised Exchanges
Uniswap V3 (Ethereum), Uniswap V3 (Arbitrum One), Uniswap V2 (Ethereum), Uniswap V3 (Polygon), and Uniswap V3 (Optimism) are the top five crypto decentralised exchanges on the basis of Market Share by Volume.
| Crypto Decentralised Exchanges | % Market Share by Volume | 24-Hour Volume |
| Uniswap V3 (Ethereum) | 15.6% | $875,859,638 |
| Uniswap V3 (Arbitrum One) | 4.9% | $275,170,379 |
| Uniswap V2 (Ethereum) | 2.0% | $113,110,402 |
| Uniswap V3 (Polygon) | 1.7% | $92,957,905 |
| Uniswap V3 (Optimism) | 1.0% | $56,123,372 |
Uniswap V3 (Ethereum) has the highest market share by volume of 15.6%. Uniswap V3 (Arbitrum One) and Uniswap V2 (Ethereum) follow with 4.9% and 2.0%, respectively. Uniswap V3 (Polygon) marks 1.7% market share by volume, and Uniswap V3 (Optimism) records the market share by volume of 1.0%.
6.3. Top Crypto Derivative Exchanges
Binance (Futures), Bybit(Futures), BYDFi (Futures), Bitget Futures and Deepcoin (Derivatives) are the top five crypto derivative exchanges by 24-hour open interest.
| Crypto Derivative Exchanges | 24-Hour Open Interest | 24-Hour Volume |
| Binance (Futures) | $17,732,368,644 | $56,137,133,472 |
| Bybit (Futures) | $11,931,914,631 | $17,252,999,974 |
| BYDFi (Futures) | $9,735,334,808 | $21,186,587,860 |
| Bitget Futures | $9,455,430,822 | $16,609,950,961 |
| Deepcoin (Derivatives) | $9,330,882,218 | $7,809,727,287 |
Binance (Futures) displays the highest 24-hour Open Interest of $17,732,368,644. Bybit (Futures) and BYDFi (Futures) follow with $11,931,914,631 and $9,735,334,808, respectively. Bitget Futures and Deepcoin (Derivatives) register $9,455,430,822 and $9,330,882,218 open interest, respectively.
Among the top five crypto derivatives exchanges, Binance (Futures) shows the highest 24-hour Volume of $56,137,133,472. BYDFi (Futures) follows with $21,186,587,860 volume. Bybit (Futures) and Bitget Futures register $17,252,999,974 and $16,609,950,961 in volume, respectively.
7. NFT Marketplace Weekly Analysis
Blur, Blur Aggregator, Cryptopunks, X2Y2, and Gem are the top five NFT Marketplaces by Market Share. Blur has the highest market share of 64.32%. Blur Aggregator and Cryptopunks follow with 24.87% and 3.25% market share respectively.
| NFT Marketplaces | Market Share | Volume Change (Change of last 7-D Volume over the Previous 7-D Volume) |
| Blur | 64.32% | -1.41% |
| Blur Aggregator | 27.87% | -5.86% |
| Cryptopunks | 3.25% | -1.20% |
| X2Y2 | 2.58% | -12.94% |
| Gem | 0.73% | -34.97% |
Among the top five NFT Marketplaces, none shows positive volume changes. The highest negative volume change is shown by Gem, which records a change of -34.97%. X2Y2 follows with -12.94%. Blur Aggregator displays a change of -5.86%. Blur and Cryptopunks mark changes of -1.41% and -1.20%, respectively.
7.1. Top NFT Collectibles This Week
CryptoPunks #741, $ORDI BRC-20 NFTs #88159, CryptoPunks #3619, Lasogette NFT #802, and Bored Ape Yacht Club #7616 are the top NFT collectibles based on Price.
| NFT Collectibles | Price |
| CryptoPunks #741 | $792,046.13 |
| $ORDI BRC-20 NFTs #88159 | $681,497.38 |
| CryptoPunks #3619 | $627,990.88 |
| Lasogette NFT #802 | $273,036.16 |
| Bored Ape Yacht Club #7616 | $248,797.03 |
CryptoPunks #741 is priced at $792,046.13. $ORDI BRC-20 NFTs #88159 costs $681,497.38. CryptoPunks #3619, Lasogette NFT #802, and Bored Ape Yacht Club #7616 are priced at $627,990.88, $273,036.16, and $248,797.03, respectively.
8. Web3, Blockchain & Crypto Funding Analysis
8.1. Crypto Fundraising Trend
| Week | Funds Raised | Number of Fundraising Rounds |
| May 13-19, 2024 | $155.40M | 25 |
| May 6-12, 2024 | $149.60M | 37 |
This week, nearly $155.40M has been raised so far. It has already crossed the previous week’s $149.60M.
8.2. Most Active Investors This Week
Animoca Brands, P2 Ventures (Polygon Ventures), Unicorn Factory Ventures, Double Peak and NXGen are the most active investors this week, based on Deals.
| Investors (or Fund’s Name) | Deals (12 May – 17 May, 2024) | Investments | Lead Investments |
| Animoca Brands | 4 | 2 | 2 |
| P2 Ventures (Polygon Ventures) | 3 | 3 | 0 |
| Unicorn Factory Ventures | 2 | 2 | 0 |
| Double Peak | 2 | 2 | 0 |
| NXGen | 2 | 1 | 1 |
Animoca Brands records the highest number of deals of 4; out of these deals, 2 are normal investments and 2 are lead investments. P2 Ventures (Polygon Ventures) follows with three deals – all of them are normal investments. Unicorn Factory Ventures and Double Peak register 2 deals each – none of them are lead investments. Notably, NXGen marks one normal investment and one lead investment – a total of two deals.
8.3. Crypto Fundraising By Category
Blockchain Infrastructure, Blockchain Services, CeFi, Chain, DeFi, GameFi, and Social are the categories raised funds this week.
| Category | Number of Fundraising Rounds (May 13-19, 24) | Funds Raised |
| Blockchain Infrastructure | 4 | $40.05M |
| Blockchain Services | 3 | $6.20M |
| CeFi | 1 | $2.70M |
| Chain | 1 | $15.00M |
| DeFi | 9 | $69.55M |
| GameFi | 5 | $15.10M |
| Social | 2 | $6.80M |
DeFi raised the highest amount of $69.55M. Blockchain Infrastructure, GameFi and Chain follow with $40.05M, $15.10M, and $15.00M.
8.4. Top Crypto Investment Locations
Apart from Undisclosed, the United States, Singapore and France are the top crypto investment locations, on the basis of funds raised.
| Investment Location | Funds Raised (May 12 – 17, 2024) | Funds Raised % | Number of Rounds |
| Undisclosed | $87.10M | 56% | 16 |
| United States | $56.20M | 36% | 5 |
| Singapore | $9.50M | 6% | 2 |
| France | $2.60M | 2% | 1 |
When the category of undisclosed raised over $87.10M, the US amassed an amount of $56.20M. Singapore and France collected $9.50M and $2.60M, respectively.
8.5. Most Active Crypto VC Jurisdictions
The US, the UK, the UAE, Singapore and China are the most active crypto venture capital jurisdictions.
| Crypto VC Jurisdiction | Number of Projects (May 12 – 17, 2024) |
| United States | 53 |
| United Kingdom | 11 |
| United Arab Emirates | 11 |
| Singapore | 6 |
| China | 6 |
The US registers the highest number of projects 53. The United Kingdom and the United Arab Emirates follow with 11 each. Singapore and China recorded 6 each.
9. Web 3, Blockchain & Crypto Hack Updates
The total value of hacked is $8.75 billion. The total value hacked in DeFi is $5.92B and Total Value Hacked in Bridges is $2.83 billion.
| Total Value Hacked | $8.75B
Total Value Hacked in DeFi$5.92BTotal Value Hacked in Bridges $2.83B |
| Project Name | Amount Lost | Date |
| Sonne Finance | $20M | 15 May, 2024 |
A hack was reported in Sonne Finance on 15th May, 2024 – the first reported this month. A huge amount of $20 million was lost due to the hack.
Endnote
Btc
Bitcoin
$62.547
price
price
0.84959%
price change
This report provides a comprehensive analysis of the current performance of various blockchains and cryptocurrencies, including Bitcoin, Altcoins, Stablecoins, AI Coins, Memecoins and Metaverse. It highlights trending coins, top gainers and losers, and delves into Crypto ETFs such as Bitcoin Spot ETFS, Bitcoin Futures ETFs, and Ethereum Futures ETFs. Additionally, it examines centralised, decentralised, and derivatives crypto exchanges, DeFi protocols, and NFT marketplaces. The report also covers crypto fundraising activities, prominent investors, key investment locations, and notable crypto hacks reported lately.
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Crypto News
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Bitcoin Price Holds Above $63,000 — Here’s The Next Critical Resistance Level
The Bitcoin price has been relatively quiet in October, but things seem to be looking up after the premier cryptocurrency broke the $63,000 mark on Saturday, October 12. However, the crypto has to scale a major resistance level if the current bull run is to get back on track. $64,000 The Resistance Level To Watch: Analyst In a Quicktake post on CryptoQuant, an analyst with the pseudonym ShayanBTC has put forward an interesting prognosis for the Bitcoin price in the…
8 months ago
Analyst Forecasts XRP Bullish Breakout – A 1,000% Opportunity?
XRP is currently testing a crucial resistance level that will shape its price action in the coming weeks. After the euphoria surrounding the Federal Reserve’s interest rate cuts in late September, the market is experiencing uncertainty and anxiety. While some investors remain optimistic, the recent price movements of XRP have led to a sense of caution. Top crypto analyst Amonyx has shared insights into the potential for an unexpected XRP rally. In his analysis, he suggests that the altcoin might…
8 months ago
Analyst Sets $2.50 Target For SUI Following 30% Weekly Gain – Details
Sui (SUI) has been one of the most popular crypto assets of 2024, with notably high market gains and drastic price losses over the year. The altcoin is currently moving sideways following a recent price rally in the last week. As usual, these consolidative movements draw much speculation on the token’s next price action. SUI To Record ATH At $2.50, Analyst Says In an X post on Saturday, market analyst Michaël van de Poppe dropped a new price target for…
8 months ago
Active Dogecoin Addresses Reach Highest Level In 8 Months – Is DOGE About To Rally?
Dogecoin is currently in a consolidation phase following days of sharp volatility and wild price swings. Since the start of October, the meme coin has been trading within a tight sideways range, leaving some investors concerned about whether the anticipated rally for DOGE will ever materialize. The uncertainty in the market has heightened fears that Dogecoin’s price might stagnate further, as bullish momentum seems to have cooled off. However, new data from Santiment offers a glimmer of hope for DOGE…
8 months ago
Forget Dogecoin (DOGE), This New Crypto Will Make DOGE’s 2021 Rally Look Like a Joke
Trends are cyclical and while a few digital coins appeal to the general populace a little more than others, others fade away. Keeping in mind the latest trends, cryptocurrencies such as Dogecoin (DOGE) gained much popularity due to the social media ‘hype’ among clients and endorsements from celebrities, and in the year 2021, it reached its actual deep growth and surprising shots. Nevertheless, with the advancements in the crypto space, there is a new challenger ready and that can do…
8 months ago
This New Cheap Token Under $0.10 Is Set to Make Early Investors Rich, Just Like NEIRO Did Last Month
The field of cryptocurrency is one of the best business opportunities which are expanding rapidly today. So, one of the keys to earning good returns is the ability to concentrate on the area that is about to offer some very attractive investment prospects. All those investors who came to NEIRO last month got the benefit of this increase, changing their reasonable investments to good profits. Now, there is another crypto that is ready to serve similar purposes: Rexas Finance (RXS).…
8 months ago
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Bitcoin
SEC Greenlights Multiple Bitcoin ETFs, Signaling Major Leap for Cryptocurrency Markets
The U.S. Securities and Exchange Commission (SEC) has made a landmark decision by approving 11 spot bitcoin exchange-traded funds (ETFs). This move represents a significant moment in the cryptocurrency industry, marking a shift towards greater institutional adoption and accessibility for investors. The approved ETFs include products from major firms such as BlackRock’s iShares Bitcoin Trust, Grayscale Bitcoin Trust, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETP Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin…
Marius Bogdan Dinu 
@bdinu89
@bdinu89
1 year ago 
597 views
Bitcoin Should be Banned in the United States: Charlie Munger
Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China. In an op-ed published with the Wall Street Journal, Munger argued that Bitcoin isn’t a currency, commodity, or security, but simply a form of gambling “ with a nearly 100% edge for the house. As such, the enactment of a federal law should ban such things from happening. Munger cited the Chinese communist party’s ban on…
2 years ago 1.5 k views
Tesla’s BTC Positions Remained Unchanged in Q4 of 2022
According to a new earning report from automotive manufacturer Tesla, the company did not sell any of its BTC holdings in the fourth quarter of 2022. Amid speculations that the company had traded BTC during the testing bears, CEO Elon Musk revealed it was yet holding on to its BTC stash. Tesla Maintains Holdings After Initial Sell-Off In Q2 of 2022, Tesla opted to sell 75% of all its BTC. The car manufacturer received close to $950M in exchange. Notably,…
2 years ago 1.5 k views
Here’s When Grayscale Debates the SEC in Court on its Bitcoin Spot ETF
The District of Columbia Court of Appeals has marked a date for when Grayscale and the Securities and Exchange Commission (SEC) may present oral arguments regarding the approval of a Bitcoin spot ETF. Each side will present its case at 9:30 am ET on March 7, with the SEC arguing against the product, and Grayscale arguing in favor. Grayscale VS SEC The court date – revealed in a court order filed on Monday according to CNBC – is much earlier…
2 years ago 1.8 k views
Ethereum
Ethereum’s Zhejiang Staking Withdrawal Testnet for Shanghai is Live
At 15:00 UTC on Wednesday, the much-anticipated Zhejiang testnet for staking withdrawal went live on Ethereum’s Beacon chain. Zhejiang will enable the testing of the Ethereum Improvement Proposal (EIP) 4895 which allows for staking withdrawals. This is in preparation for the network’s next major update, the Shanghai hard fork slated to launch sometime in March. Users Can Make Simulated Withdrawals with Zhejiang In a tweet yesterday, DevOps engineer at Ethereum foundation Barnabas Busa gave details about the Zhejiang testnet slated…
2 years ago 1.6 k views
Ethereum Devs Disagree Over Technical Tweak as Shanghai Upgrade Nears
Post-merge Ethereum users have been eagerly awaiting the commencement of the network’s next major upgrade, Shanghai. However, after over 3 months of prep time, it appears the Shanghai rollout isn’t going as smoothly as expected. What Exactly is the Shanghai Upgrade? In September last year, the much-publicized Ethereum Merge also known as the Ethereum 2.0 upgrade went live. Ethereum underwent some significant changes as its consensus mechanism transitioned from proof-of-work to a cost-efficient proof-of-stake system. However, since the Beacon launch…
2 years ago 1.6 k views
FTX Hacker Converts 50k Stolen ETH to BTC
Per a report from blockchain analysis firm Chainalysis, the attacker behind the Nov 11 FTX exploit, is converting the stolen ETH to Bitcoin. There were muted fears the seemingly inexperienced perpetrator could dump all its ETH holdings. On Sunday, the attacker dumped 50k ETH on-chain, with ETH's price dipping by almost 7%. https://twitter.com/chainalysis/status/1594349583416840199?s=20&t=pgvQHeVytI20eKQ1ls9bxw Hacker Moves 50,000 ETH to New Address Over the past week, the perpetrator had been steadily swapping the cryptocurrencies they had carted off for Ether tokens. This…
3 years ago 1.9 k views
Censorship Concerns: 51% of Ethereum Blocks Now OFAC Compliant
According to new data, over half of the blocks on the Ethereum network now reportedly comply with the US Treasury OFAC’s standards. This comes roughly a month after the platform’s monumental merge update. Phasing Out Tornado Cash The Office of Foreign Assets Control is the intelligence and enforcement agency of the US Treasury Department. Indeed, the OFAC administers and enforces US financial sanctions. A prime example of this is the recent, highly-publicized ban on crypto mixer Tornado Cash. According to…
3 years ago 1.8 k views
Trading
How to Leverage Arbitrage Opportunities in Crypto Markets
Cryptocurrency arbitrage has become an increasingly popular investment strategy as the crypto market grows and evolves. Arbitrage involves taking advantage of pricing discrepancies between markets or exchanges to profit. Investors can leverage profit opportunities by understanding cryptocurrency arbitrage while managing associated risks. In this guide, we'll explore cryptocurrency arbitrage and how it works. A Bitcoin-related example will help us illustrate the concepts of this strategy. What is Arbitrage and How Does it Work in Crypto Markets Crypto arbitrage trading is…
2 years ago 3 k views
The Different Types of Copy Trading in Crypto
Are you interested in trading cryptocurrencies but feel intimidated by the complexity of the process? Copy trading is a great way to get into crypto without needing to be an experienced trader. With copy trading, investors can benefit from the experience and knowledge of more experienced traders, allowing even beginners to succeed. How does copy trading work, and which tips do you need to know to succeed? In this article, we'll explore all aspects of copy trading in crypto. What…
2 years ago 1.7 k views
How to Spot an Unsafe Crypto Exchange
Cryptocurrency exchanges have become increasingly popular as they provide a platform for people to buy and sell digital assets. Unfortunately, not all crypto exchanges are safe or reliable. With the rise of cybercrime and fraud, you must learn to spot an unsafe crypto exchange before investing your money. This guide will help beginners identify and avoid potential risks when selecting a cryptocurrency exchange. The Role of Crypto Exchanges on the Digital Assets Market Cryptocurrency exchanges play a crucial role in…
2 years ago 2.2 k views
What Is Grid Trading in Crypto?
Crypto grid trading has become a popular strategy because of its ability to help traders capitalize on market volatility. Grid trading means you can produce consistent profits by taking advantage of price differences in different markets or time frames. By establishing buy and sell orders at predetermined intervals, you can take advantage of these fluctuations in an automated way. This guide will explore the different aspects of grid trading and provide an overview of its benefits, challenges, and more. Through…
2 years ago 1.6 k views
Tech
Introducing una Messenger: A Paradigm Shift in Blockchain Connectivity
The digital landscape is set for an unprecedented transformation with the introduction of una Messenger, the latest innovation from web3 development powerhouse Wemade. This platform represents an evolution of the "PAPYRUS Messenger," serving as the cornerstone of the ambitious "unagi" initiative, aimed at catalyzing the mass adoption of blockchain technology. The "Unbound Networking & Accelerating Growth Initiative" seeks to bridge the divides between diverse blockchain services and networks, heralding a new era of interconnectedness. A New Frontier in Blockchain Communication…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 574 views
Bit2Me Champions WEMIX Token in Pioneering European Listing
Bit2Me, Spain's premier virtual asset exchange, has recently broadened the horizons for cryptocurrency enthusiasts by listing WEMIX, the cornerstone token of the WEMIX3.0 blockchain ecosystem. This marks a notable achievement as WEMIX's inaugural venture into the European market, emphasizing the token's role in facilitating a range of blockchain-based activities, from gaming transactions to decentralized finance (DeFi) applications. Launched with the intention to democratize access to WEMIX for the 450 million Spanish speakers around the globe, this strategic move aligns with…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 404 views
CryptoVirally Expands with Fresh Crypto Marketing Offers and Cointelegraph Upgrades
In an exciting update for the cryptocurrency marketing landscape, CryptoVirally has announced a series of new entries and enhancements to its already comprehensive range of services. These updates, aimed at providing tailored marketing solutions for crypto projects, include new limited-time offers and expanded options for Cointelegraph publications. Limited Offers: A Game-Changer in Crypto Marketing CryptoVirally's limited offers section presents an enticing opportunity for crypto projects to leverage high-impact marketing services at discounted rates. These offers, available for a limited period,…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 465 views
Breaking Boundaries in Blockchain: WEMIX’s ‘una Wallet’ Sets New Standard for Multi-Chain Asset Management
The WEMIX Foundation has unveiled 'una Wallet,' a revolutionary digital wallet designed to offer unparalleled convenience and security in managing digital assets across various blockchain networks. The announcement, made on January 17, 2024, signifies a new era in the seamless integration of multiple blockchain protocols, including Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX3.0. 'una Wallet' is more than just a digital wallet; it represents the culmination of WEMIX's innovative efforts in the blockchain space. It serves…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 592 views