Weekly Data Report for 14 to 20 March


The Market Rose in General

Abstract: The Fed raised benchmark interest rate and expects 7 rate hikes in 2022. The parent company of BAYC launched Ape Coin for the continued empowerment of the Bored Ape ecology. The secondary market went up generally and market sentiment improved slightly.

  • Total market value increased. Last week, the total market value of digital assets increased to around US$1.9 trillion. Bitcoin fluctuated within a range of approximately 13%, while Ethereum fluctuated within a range of approximately 20%.
  • Most of the top 100 digital assets gained. Last week, among the top 100 digital assets, 91 staged growth, while 9 witnessed decline.
  • Exchanges showed a decline in turnover. Last week, turnover on the 10 exchanges tracked by us decreased by 22.4%. Binance moved down by -24.7%. Bitfinex, Bitstamp and Coinbase recorded a decrease of -9.8%, -4.7% and -16.3%, respectively
  • Stock exchanges registered modest changes in turnover. Last week, turnover on the 10 exchanges tracked by us rose by 1%. Binance moved up by +2.7%. Bitfinex, Bitstamp and Coinbase recorded decrease of 9.5%, increase of 5.4% and decrease of 1.5%, respectively.
  • Turnover of futures declined. Last week, turnover of Bitcoin futures market declined 16.4% week-on-week, with close position increasing to US$0.02 trillion. Turnover of Ethereum futures market was down by 3%, with open position growing to US$0.009 trillion.
  • Turnover of Dex increased to approximately US$0.02 trillion. The decrease in weekly turnover of Dex dropped by 15% as compared to last week.
  • Turnover of Opensea increased to approximately US$0.0007 trillion. Turnover of Opensea increased to US$0.0007 trillion, up by 47.2% as compared to last week.

 

  • The market rose in general. Market value of cryptocurrencies increased to approximately US$1.9 trillion last week and Bitcoin fluctuated by around 13%, while Ethereum fluctuated by around 20%. Spot turnover posted modest changes compared to last week and turnover of Bitcoin futures declined by 16% while turnover of Ethereum futures decreased by 3%. The Fed raised benchmark interest rate by 25 basis points to a range of 0.25%-0.50%, which is in line with market expectations. The median of the Fed’s dot plot chart shows that the Fed is expected to raise rates 7 times in 2022. Interest rate is expected to be 1.9% by the end of 2022 and 2.8% by the end of 2023. Yuga Labs, the parent company of Bored Ape BAYC, officially launched Ape Coin, which will be distributed among BAYC/MAYC members. nWayPlay, an NFT platform under Animoca, announced its adoption of Ape Coin in the new game co-developed with Yuga Labs, coupled with Time Magazine accepting Ape Coin, which has shown continuous empowerment of BAYC. The general market sentiment improved slightly with overall rally of the secondary market.

Digital Currency Market Capitalization Change:

Source: HashKey Capital Research, Coin360

Bitcoin Futures Daily Trading Volume:

Source: HashKey Capital Research, The Block

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