Weekly Data Report for 23 to 29 May


Market Relatively Inactive

The market was relatively inactive. Market value of cryptocurrencies went down to approximately US$1.24 trillion last week. Bitcoin was range-bound at approximately US$30,000. Spot turnover and turnover of Bitcoin futures posted modest changes as compared to last week, while turnover of Ethereum futures rose by 18%. Most of the top 100 coins based on market value are still falling. Ethereum experienced block reorganization last week, triggering discussions on the security of Ethereum Merge’s transition to POS. The US core PCE price index increased by 0.3% month-over-month in April, which was in line with expectations, easing inflationary pressures as compared to the previous month. The Fed may pause interest-rate increases after September and tightening cycle may come early. All risk assets including the US stocks rallied last week after the announcement. A Japan crypto asset exchange platform, bitbank, announced that it has officially signed a memorandum of understanding with Sumitomo Mitsui Trust Holding to jointly establish JADAT, a trust company specializing in digital assets. The NFT CC0 goblin project was one of the hot topics last week. The overall market lacked new points of interest and momentum. With weak performance of both the mainstream coins and altcoins, the market is still expected to hover at a low level under macro pressure, while some institutional investors cautiously optimistic about the future market.

 

  • Total market value posted modest changes. Last week, the total market value of digital assets declined to around US$1.24 trillion. Bitcoin was range-bound at approximately US$30,000.
  • Most of the top 100 digital assets fell. Last week, among the top 100 digital assets, 85 witnessed decline, while 15 staged growth.
  • Stock exchanges registered modest changes in turnover. Last week, turnover on the 10 exchanges tracked by us rose by 1.8%. Binance moved up by 1.8%. Bitfinex, Bitstamp and Coinbase recorded increase of 15.2%, decrease of 0.1% and increase of 0.1%, respectively.
  • Turnover of futures increased. Turnover of Bitcoin futures and Ethereum futures rose by 6.6% and 26% respectively.
  • Turnover of Dex increased to approximately US$13 billion. The weekly turnover of Dex grew by 18.2% as compared to last week.
  • Turnover of Opensea decreased to approximately US$0.22 billion, down by 18% as compared to last week.

Digital Currency Market Capitalization Change:

Source: HashKey Capital Research, Coin360

 

Bitcoin Futures Daily Trading Volume:

 

Source: HashKey Capital Research, The Block

 

 

Legal Disclaimer:

 

  • The information contained in this document has been compiled by HashKey Group (as defined below) from sources believed to be reliable, but no representation or warranty express or implied is made by HashKey Group, its affiliates or any other person as to its fairness, reasonableness, reliability, accuracy, completeness or correctness. All illustrations, examples or forward-looking information (if any) contained in this document have been provided in good faith for illustrative purposes only as of the date of this document, and are not intended to serve as, and must not be relied upon as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Whilst efforts are made to ensure the accuracy and completeness of the information contained in this document at the time of publication, errors or omissions may occur. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. HashKey Group reserves the right to correct any errors or omissions, and to change or update information at any time without prior notice.
  • Each legal jurisdiction has its own laws regulating the types of investments and/or services which may be offered to its residents and/or in its jurisdiction, as well as the process for doing so.  As a result, certain investment products or services discussed in this document may not be eligible for sale or offered in some jurisdictions. This document is not an offer to sell or a solicitation of an offer to purchase any investments or services. Unless otherwise specified, HashKey Group does not hold itself out to be licensed to carry on regulated activities in any jurisdiction. Additionally, providing this material is not, and under no circumstances should be construed to act as a regulated business in any jurisdiction by any person or company that is not legally permitted to carry on such regulated business in that jurisdiction.
  • Nothing in this document constitutes legal, accounting, or tax advice, and you are advised to seek independent legal, tax and accounting advice prior to acting upon anything contained in this document.  The contents of this material have not been reviewed by any regulatory authority. Investors are advised to exercise caution in relation to any investments or services in relation to this document. If you are in doubt about any of the contents of this material, you should obtain independent professional advice.
  • To the full extent permitted by law, neither HashKey Group nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss arising from any use of this document or the information contained herein. No information contained in this document may be reproduced or copied by any means without the prior written consent of HashKey Group.
  • “HashKey Group” is a brand name to describe any one or more entities of the group companies composed of HashKey Digital Asset Group Limited and its Affiliates.

Don’t
Miss Out !


Subscribe now to receive notifications of our articles and newsletters:

back-to-top