Introduction to Crypto Market Trends
The crypto market has been experiencing significant fluctuations in recent times. According to our research dashboard, the price, volume, and volatility indices decreased by -1.90%, -28.70%, and -35.27%, respectively, last week. BTC’s price increased by +0.4%, while ETH’s price decreased by -2.1%. This article will provide an overview of the current crypto market trends, notable updates, and upcoming events.
Notable Updates and Events
US spot BTC ETFs had a net outflow of $497 million last week, compared to a net inflow of $287 million the week before. Spot ETH ETFs saw a net outflow of $644 million in the same period, compared to a net inflow of $209 million the period before. On the macro side, the US consumer price index rose by 2.7% year-on-year in November, lower than the 3.1% expected by economists surveyed by Dow Jones. The latest CME FedWatch Tool indicated a 21% probability of a January rate cut, compared to 24% the week before.
Europe and Japan’s Interest Rates
Europe kept interest rates unchanged, while Japan raised interest rates by 0.25% to 0.75%. The UK cut interest rates by 0.25% to 3.75%. These changes in interest rates have significant implications for the crypto market. Notable updates include Ethereum Foundation’s new technical roadmap for zkEVM, shifting focus from speed to security, and Circle’s partnership with Intuit to integrate USD.
Realised Capitalisation and Market Trends
BTC’s realised capitalisation remained near its record high above $1.1 trillion over the past month, despite price fluctuations since October. This metric values the sum of each BTC at the price it was last moved and is used as a proxy for the ‘stored value’. It provides an indication of actual capital inflows compared to market capitalisation, which can be impacted by speculative actions. Top-cap tokens mostly decreased in prices last week, except for BCH and BTC.
Token Performance
All key categories decreased in market capitalisation in the last seven days, except for Layer-1. Layer-2 and NFT led the decrease. Tokens in the index mostly decreased in price, in line with ETF outflows and a broader weakening of investor sentiment. The market rebounded slightly after Japan’s 0.25% rate hike, as the Japanese yen fell against USD post-hike.
Crypto.com and Cronos News
DMCC, the international business district that drives the flow of global trade through Dubai, partnered with Crypto.com to advance commodities tokenisation and digital trade infrastructure. Crypto.com strengthened its fiat payment capabilities with DBS Bank, Southeast Asia’s largest bank by assets. Crypto.com users in Singapore can now deposit SGD and USD, facilitated by DBS.
Adoption and Regulation
International investment company Galapagos Capital will leverage Crypto.com Exchange capabilities to establish a new digital asset offering for its clients. Crypto.com | Derivatives North America (CDNA), a CFTC-registered exchange and clearinghouse affiliated with Crypto.com, collaborated with ERShares and Signal Markets to launch a global prediction-market-intelligence platform.
Conclusion
In conclusion, the crypto market has been experiencing significant fluctuations in recent times. BTC’s realised capitalisation remained near its record high above $1.1 trillion over the past month, despite price fluctuations since October. Notable updates include Ethereum Foundation’s new technical roadmap for zkEVM and Circle’s partnership with Intuit to integrate USD. As the crypto market continues to evolve, it is essential to stay informed about the latest trends and updates. By accessing exclusive reports and joining the Crypto.com Exchange VIP Programme, individuals can gain a deeper understanding of the crypto market and make informed investment decisions.
