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Web3, Blockchain, and Crypto Weekly Update: Major News, Market Trends, and Key Insights
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
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.
Over the past 24 hours, Jupiter and JasmyCoin emerged as the top gainers among the top 100 crypto assets, while Bittensor and Mantra plunged as the top losers.
Top Winners
Jupiter
Jupiter (JUP) led the charge among the biggest gainers on July 27.
At the time of writing, the crypto asset had surged 12.6% in the past 24 hours and was trading at $1.16. JUP’s daily trading volume was hovering around $282 million, according to data from crypto.news.
JUP Hourly Price Chart, July 26-27 | Source: crypto.news
Additionally, the cryptocurrency’s market cap stood at $1.56 billion, making it the 62nd largest crypto asset, according to CoinGecko. Despite the recent price surge, the token is still down 42.6% from its all-time high of $2 reached on Jan. 31.
Jupiter functions as a decentralized exchange aggregator that allows users to trade Solana-based tokens. The platform also offers users the best routes for direct trades between multiple exchanges and liquidity pools.
In addition to being a DEX aggregator, Jupiter has expanded into a “full stack ecosystem” by launching several new projects, including a dedicated pool to support perpetual trading and plans for a stablecoin.
JasmyCoin
JasmyCoin (JASMI) has increased by 12% in the last 24 hours and is trading at $0.0328 at press time. JASMY’s daily trading volume has increased by 10% in the last 24 hours, reaching $146 million.
JASMY Hourly Price Chart, July 26-27 | Source: crypto.news
The asset’s market cap has surpassed the $1.5 billion mark, making it the 60th largest cryptocurrency at the time of reporting. However, the self-proclaimed “Bitcoin of Japan” is still down 99.3% from its all-time high of $4.79 on February 16, 2021.
JASMY is the native token of Jasmy Corporation, a Japanese Internet of Things provider. The platform seeks to merge the decentralization of blockchain technology with IoT, allowing users to convert their digital information into digital assets.
The initiative was launched by Kunitake Ando, former COO of Sony Corporation, along with Kazumasa Sato, former CEO of Sony Style.com Japan Inc., Hiroshi Harada, executive financial analyst at KPMG, and other senior executives from Japan.
Kaspa
Kaspa (KAS) saw a 100% increase in trading volume and an 8% increase in price over the past 24 hours, trading at $0.19 at the time of publication.
KAS Hourly Price Chart, July 26-27 | Source: crypto.news
According to data from CoinGecko, Kaspa now ranks 27th in the global cryptocurrency list, with a circulating supply of approximately 24.29 billion KAS tokens and a market capitalization of $4.59 billion.
Kaspa is a cryptocurrency designed to deliver a high-performance, scalable, and secure blockchain platform. Its unique Layer-1 protocol includes the GhostDAG protocol, a proof-of-work (PoW) consensus mechanism that enables faster block times and higher transaction throughput compared to standard blockchains.
Unlike Bitcoin, GhostDAG allows multiple blocks to be created simultaneously, speeding up transactions and increasing block rewards for miners.
Bonk
Bonk (BONK) is the only one coin meme which made it to this list of biggest gainers and jumped 8.6% in the last 24 hours. Trading at $0.000030, the Solana-based meme coin’s market cap has surpassed $2.1 billion, surpassing Floki (FLOKI), another competing dog-themed coin with a market cap of $1.78 billion.
BONK Hourly Price Chart, July 26-27 | Source: crypto.news
BONK’s daily trading volume hovered around $285 million. However, BONK is still down 33.5% from its all-time high of $0.000045, reached on March 4.
Bonk, a meme coin that rose to prominence in 2023, has contributed significantly to Solana’s value increase amid the meme coin frenzy.
Bonk started out as a simple dog-themed coin. It has since expanded its features to include integration with decentralized finance. The project also partners with cross-chain communication protocols, NFT marketplaces, and various other cryptocurrency ecosystems.
BONK trading pairs are now listed on major exchanges including Binance, Coinbase, OKX, and Bitstamp.
The big losers
Bittensor
Bittensor (TAO) was the biggest loser among the 100 largest crypto assets, according to data from CoinGecko.
At the time of writing, TAO, the native token of decentralized AI project Bittensor, was down 5%, trading around $344. The crypto asset had a daily trading volume of $59 million and a market cap of $2.43 billion.
TAO 24 Hour Price Chart | Source: CoinGecko
Bittensor, created in 2019 by AI researchers Ala Shaabana and Jacob Steeves, initially operated as a parachain on Polkadot before transitioning to its own layer-1 blockchain in March 2023.
Mantra
Mantra (OM) fell 6%, trading at $1.13 at press time. The digital currency’s market cap fell to $938 million. Additionally, the 82nd largest crypto asset has a daily trading volume of $26 million.
OM Price Hourly Chart, July 26-27 | Source: crypto.news
Mantra is a modular blockchain network comprising two chains, Manta Pacific and Manta Atlantic, specialized in zero-knowledge applications.
Coat
Coat (MNT) also saw a 2.4% drop in price, now trading at $0.8413. Currently, Mantle has a market cap of around $2.75 billion, which ranks 36th in the global cryptocurrency rankings by market cap, according to price data from crypto.news.
MNT Hourly Price Chart, July 26-27 | Source: crypto.news
Over the past 24 hours, MNT trading volume also fell by 6%, reaching $240 million.
Mantle, formerly known as BitDAO, is an investment DAO closely associated with Bybit. The MNT token is essential for governance, paying gas fees on the Mantle network, and staking on various platforms.
Built on the Ethereum network, Mantle provides a platform for decentralized application developers to launch their projects. It has become particularly popular for GameFi applications, leading to the formation of an internal Web3 gaming team.
Markets
Bitcoin Price Drops to $67,000 Despite Trump’s Pro-Crypto Comments, Further Correction Ahead?
Pioneer cryptocurrency Bitcoin has registered a 1.13% decline in the past 24 hours to trade at $67,400. Despite a strong pro-crypto stance from US presidential candidate Donald Trump at the Bitcoin 2024 conference, this massive selloff has raised concerns in the market about the asset’s sustainability at a higher price. However, given the recent three-week rally, a slight pullback this weekend is justifiable and necessary to regain the depleted bullish momentum.
Bitcoin Price Flag Formation Hints at Opportunity to Break Beyond $80,000
The medium-term trend Bitcoin Price remains a sideways trend amidst the formation of a bullish flag pattern. This chart pattern is defined by two descending lines that are currently shaping the price trajectory by providing dynamic resistance and support.
On July 5, BTC saw a bullish reversal from the flag pattern at $53,485, increasing its asset by 29.75% to a high of $69,400. This recent spike followed the market’s positive sentiment towards the Donald Trump speech at the Bitcoin 2024 conference in Nashville on Saturday afternoon.
Bitcoin Price | Tradingview
In his speech, Trump outlined several pro-crypto initiatives: he promised to replace SEC Chairman Gary Gensler on his first day in office, to establish a Strategic National Reserve of Bitcoin if elected, to ensure that the U.S. government holds all of its assets. Bitcoin assets and block any attempt to create a central bank digital currency (CBDC) during his presidency.
He also claimed that under his leadership, Bitcoin and cryptocurrencies will skyrocket like never before.
Despite Donald Trump’s optimistic promises, the BTC price failed to reach $70,000 and is currently trading at $67,400. As a result, Bitcoin’s market cap has dipped slightly to hover at $1.335 trillion.
However, this pullback is justified, as Bitcoin price has recently seen significant growth over the past three weeks, which has significantly improved market sentiment. Thus, price action over the weekend could replenish the depleted bullish momentum, potentially strengthening an attempt to break out from the flag pattern at $70,130.
A successful breakout will signal the continuation of the uptrend and extend the Bitcoin price forecast target at $78,000, followed by $84,000.
On the other hand, if the supply pressure on the upper trendline persists, the asset price could trigger further corrections for a few weeks or months.
Technical indicator:
- Pivot levels: The traditional pivot indicator suggests that the price pullback could see immediate support at $64,400, followed by a correction floor at $56,700.
- Moving average convergence-divergence: A bullish crossover state between the MACD (blue) and the signal (orange) ensure that the recovery dynamics are intact.
Related Articles
Frequently Asked Questions
A CBDC is a digital form of fiat currency issued and regulated by a country’s central bank. It aims to provide a digital alternative to traditional banknotes.
The proposal for a strategic national Bitcoin reserve is a major confirmation of Bitcoin’s legitimacy and potential as a reserve asset. Such a move could position Bitcoin in a similar way to gold, potentially stabilizing its price and encouraging other countries to adopt similar strategies.
Conferences like Bitcoin 2024 serve as essential platforms for networking, knowledge sharing, and showcasing new technologies within the cryptocurrency industry.
Markets
Swiss crypto bank Sygnum reports profitability after surge in first-half trading volumes – DL News
- Sygnum says it has reached profitability after increasing transaction volumes.
- The Swiss crypto bank does not disclose specific profit figures.
Sygnum, a Swiss global crypto banking group with approximately $4.5 billion in client assets, announced that it has achieved profitability after a strong first half, with key metrics showing year-to-date growth.
The company said in a Press release Compared to the same period last year, cryptocurrency spot trading volumes doubled, cryptocurrency derivatives trading increased by 500%, and lending volumes increased by 360%. The exact figures for the first half of the year were not disclosed.
Sygnum said its staking service has also grown, with the percentage of Ethereum staked by customers increasing to 42%. For institutional clients, staking Ethereum has a benefit that goes beyond the limitations of the ETF framework, which excludes staking returns, Sygnum noted.
“The approval and launch of Bitcoin and Ethereum ETFs was a turning point for the crypto industry this year, leading to a major increase in demand for trusted, regulated exposure to digital assets,” said Martin Burgherr, Chief Client Officer of Sygnum.
He added: “This is also reflected in Sygnum’s own growth, with our core business segments recording significant year-to-date growth in the first half of the year.”
Sygnum, which has also been licensed in Luxembourg since 2022, plans to expand into European and Asian markets, the statement said.
Markets
Former White House official Anthony Scaramucci says cryptocurrency bull market could be sparked by regulatory clarity
Anthony Scaramucci, founder of Skybridge Capital, says the next cryptocurrency bull market could be sparked by a new wave of clear cryptocurrency regulations.
In a new interview On CNBC’s Squawk Box, the former White House communications director said he and two other prominent industry figures traveled to Washington, D.C. to speak to officials about the dangers of Sen. Elizabeth Warren and U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler’s hardline approach to cryptocurrency regulation.
“Mark Cuban, myself, and Michael Novogratz were in Washington a few weeks ago to speak with White House officials and explain the dangers of Gary Gensler and Elizabeth Warren’s anti-crypto approach. I hope that message gets through…
“Overall, if we can get regulatory policy around Bitcoin and crypto assets in sync, we will have a bull market next year for these assets.”
Scaramucci then compares crypto assets to ride-hailing company Uber, saying regulators were initially wary of the service but eventually decided to adopt clear guidelines due to public demand.
“Remember Uber: Nobody wanted Uber. A lot of regulators didn’t want it. Mayors and deputy mayors didn’t want it, but citizens wanted Uber and eventually accepted the idea of regulating it fairly. I think we’re there now.”
The CEO also says young Democratic voters believe their leaders are making the wrong choices when it comes to digital assets.
“I think President Trump’s move toward Bitcoin and crypto assets has shaken Democrats to their core, and I think very smart, younger Democrats are recognizing that they are completely off base with their positions, completely off base with these SEC lawsuits and regulation by law enforcement, and now they need to get back to the center.”
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