Web3, Blockchain & Crypto Weekly Report – Crypto News BTC

This evaluation report showcases key developments within the Web3, Blockchain, and Crypto sectors over the past week. Significant events include the resignation of Ethereum's Eclipse CEO amidst misconduct accusations, Kraken's challenge to the SEC's lawsuit, and the Federal Reserve's measures to combat inflation, impacting Bitcoin's value. Additionally, notable news involves the denial of Binance bribery allegations by Nigerian authorities, Canada's fines for Binance's anti-money laundering violations, and former President Trump's plans to accept cryptocurrency donations for his presidential campaign. The report further analyzes the performance of various blockchain networks and provides insights into the crypto market, including notable gainers and losers. It also reviews the progress of Bitcoin ETFs and provides a brief overview of the NFT and DeFi markets, highlighting key players and trends.

This evaluation report, backed by high quality knowledge, covers the key developments the Web3, Blockchain and Crypto sector has skilled this week. 

1. Breaking Information This Week

• Ethereum’s Eclipse CEO Steps Again Amid Misconduct Allegations

Neel Somani, CEO of Ethereum’s Eclipse venture, reduces function following sexual misconduct allegation, asserting innocence whereas acknowledging gravity of state of affairs.

• Kraken Questions SEC’s Case Amid Ongoing Dispute

Kraken challenges SEC’s lawsuit accuracy, three months after submitting movement to dismiss, concerning fees of unregistered brokerage actions.

• Bitcoin Falls as Federal Reserve Mulls Inflation Fight Techniques

Bitcoin value drops to $60,934.11 as Federal Reserve evaluates methods in opposition to persistent inflation in the USA.

• Nigerian Authorities Denies Binance Bribery Allegations

Nigerian authorities refutes Binance CEO’s declare of $150 million bribe demand to settle felony fees, labelling allegations as baseless diversionary techniques.

• Canada Fines Binance Over Anti-Cash Laundering Violations

Canada imposes fantastic on Binance for violating anti-money laundering laws, citing non-compliance with guidelines associated to working as overseas cash companies enterprise.

• Trump Plans Cryptocurrency Donations for Election Marketing campaign

Former President Trump intends to simply accept cryptocurrency donations for his 2024 U.S. presidential marketing campaign, signalling a shift in strategy towards crypto in comparison with the Biden administration.

• White Home Blocks Republican Effort on Crypto Custody Companies

White Home vows to veto Home Decision 109 aimed toward releasing banks to supply crypto custody companies, regardless of passing via the Home of Representatives, halting hopes for U.S. crypto banking. 

• Chainlink Integration Powers Hong Kong Greenback Stablecoin

RD Applied sciences integrates Chainlink CCIP and Proof of Reserve to assist Hong Kong greenback stablecoin, enabling safe cross-chain transfers and on-chain verification of reserve backing. 

• SEC Points Wells Discover to Robinhood Amid Authorized Risk

Robinhood receives Wells Discover from SEC, including to checklist of crypto buying and selling platforms dealing with authorized motion, asserts platform doesn’t checklist securities, deeming SEC’s case weak. 

2. Blockchain Efficiency

On this part, we’ll analyse two elements primarily: the top-performing blockchains primarily based solely on their 7-day change and the highest performers among the many prime 5 blockchains with the best TVL.  

2.1. High Blockchain Performers by 7-Day Change

This week’s prime blockchain performers, primarily based on their 7-day change, are opBNB, BNB Sensible Chain, Ronin, Close to Protocol, and Cosmos. Final week, the highest performers have been Core, ZetaChain, StarkNet, Scroll and Filecoin. None of those chains might enter the checklist this week. 

Blockchain	7-Day Change (in %)	TVL
opBNB	+17.1%	$29,035,685
BNB Sensible Chain	+12.1%	$6,029,605,772
Ronin	+5.1%	$187,485,507
Close to Protocol	+5.0%	$317,732,963
Cosmos	+4.7%	$1,372,069

opBNB marks the best 7-day change of +17.1%. BNB Sensible Chain carefully follows with +12.15%. Ronin, Close to Protocol, and Cosmos register +5.1%, +5.0% and +4.1% respectively. 

2.2. High Performers: 7-Day Change in High 5 Blockchains with Highest TVL

Ethereum, TRON, BNB Sensible Chain, Solana, and Arbitrum One are the highest 5 blockchains available in the market on the idea of TVL and market dominance. Let’s see how the highest 5 blockchains have carried out this week, utilizing 7-day TVL change. 

In comparison with the final week, this week, the dominance of Ethereum has barely decreased from 63.26% to 61.52%. Equally, BNB Sensible Chain has seen a rise from 6.18% to 7.15%. 

Blockchain	Dominance (in %)	7d Change (in %)	TVL
Ethereum	61.52%	-5.7%	$51,847,288,647
TRON	9.74%	-2.3%	$8,211,022,800
BNB Sensible Chain	7.15%	+12.1%	$6,029,605,772
Solana	4.77%	+2.6%	$4,022,451,729
Arbitrum One	3.01%	-3.4%	$2,540,928,822
Others	13.80%

Among the many prime 5 chains by TVL, BNB Sensible Chain marks the best 7-day change of +12.1%. Solana follows with +2.6%. The chain with the best adverse 7-day change is Ethereum, which information a change of -5.7%. Arbitrum One follows with a adverse change of -3.4%

Additionally Learn: Blockchain Report & Market Insights for April 2024: What You Should Know

3. Crypto Market Evaluation

The crypto 7-day value change and dominance evaluation and prime beneficial properties and losers evaluation are the 2 prime areas of the crypto market evaluation. 

3.1. Crypto 7-D Worth Change and Dominance Evaluation

Bitcoin, Ethereum, Tether, BNB, and Solana are the highest cryptocurrencies as per the market cap and dominance indices. Let’s analyse their seven-day value change. 

In comparison with the earlier week, the dominance of Ethereum has barely diminished from 15.23% to 14.78%. Others have skilled solely minimal modifications. 

Cryptocurrency	7-D Change (in %)	Dominance Proportion	Worth	Market Cap
Bitcoin	-3.9%	50.71%	$60,934.11	$1,200,268,706,365
Ethereum	-6.4%	14.78%	$2,921.19	$350,807,094,812
Tether	-0.0%	4.68%	$1.00	$110,844,032,187
BNB	+0.0%	3.81%	$586.70	$90,180,359,491
Solana	+0.4%	2.77%	$145.83	$65,235,323,274
Others		23.25%

Among the many prime 5 cryptocurrencies by market cap, solely Solana marks a optimistic change; it information a change of +0.4%. The very best adverse change is proven by Etherem, which registers a change of -6.4%. 

Final week, Bitcoin and Tether showcased optimistic modifications. This time, Bitcoin shows a adverse change of -3.9%, and Tether reveals a change of -0.0%

3.2. High Gainers & Losers of the Week in Crypto Market

Right here is the checklist of prime gainers and prime losers of the week within the cryptocurrency market. The evaluation is made utilizing the 7-day Acquire and 7-day Lose indices. 

3.2.1. High Gainers of the Week in Crypto

Cryptocurrency	7-Day Acquire	Worth
Akash Community	+35.02%	$5.85
Render	+30.09%	$10.87
Toncoin	+20.60%	$6.97
Arweave	+16.59%	$41.24
Kaspa	+15.06%	$0.1283

Akash Community, with +35.02% achieve, is the highest gainer of the week. Render and Toncoin comply with with +30.09 achieve and +20.60% achieve, respectively. Arweave and Kaspa present +16.59% achieve and +15.06% achieve, respectively. 

Within the earlier week, Pepe was the highest gainer. That point, a development beneficial in direction of memecoins was seen. This time, what we see is a development favouring AI & Huge Knowledge tokens. 

3.2.2. High Losers of the Week in Crypto

Cryptocurrency	7-Day Loss	Worth
Core	-21.20%	$1.62
Wormhole	-20.50%	$0.5974
Bonk	-19.25%	$0.00002309
Stacks	-17.34%	$2.01
Lido DAO	-14.40%	$1.78

Core, with a 7-day lack of -21.20%, is the highest loser of the week. Wormhole follows with a 7-day lack of -20.50%. Financial institution registers a lack of -19.25%, and Stacks shows a lack of -17.34%. Lido DAO experiences a lack of -14.40%. 

Final week, the largest losers have been Helium, Sui, Ondo, Polkadot, and Beam. This time, we see none of them within the checklist, giving an impression that they’ve improved its efficiency.    

3.3. Stablecoin Weekly Evaluation

Tether, USDC, DAI, First Digital USD, and Ethena USDe are the highest stablecoins available in the market when it comes to market capitalization. Let’s analyse their weekly efficiency utilizing seven-day market capitalisation, market dominance and buying and selling quantity indices.

Stablecoins	Market Dominance (7d) [in %]	Market Capitalisation (7d)	Buying and selling Quantity (7d)	Market Capitalisation
Tether	70.63%	$110,774,390,760	$43,232,517,723	$110,839,699,373
USDC	21.11%	$33,104,074,658	$6,085,824,820	$33,106,032,488
Dai	3.48%	$5,459,263,317	$591,430,715	$5,465,103,817
First Digital USD	2.43%	$3,813,866,678	$6,017,294,988	$3,818,135,796
Ethena USDe	1.47%	$2,302,513,937	$55,284,303	$2,302,847,630
Others	0.87%

Tether dominates the stablecoin market with a dominance share of 70.63%. USDC follows with a powerful dominance share of 21.11%. Dai, First Digital USD and Ethena USDe present 3.48%, 2.43% and 1.47% dominance, respectively. 

In comparison with the earlier week’s market dominance knowledge, we see no vital modifications in dominance of any of the highest 5 stablecoins. 

3.3.1. Stablecoin Weekly Worth Evaluation

Let’s analyse the weekly efficiency of the highest stablecoins additional utilizing the seven-day value change index. 

Stablecoins	7-Day Worth Change (in %)	Worth
Tether	-0.0%	$1.00
USDC	-0.2%	$1.00
Dai	+0.1%	$0.9982
First Digital USD	-0.0%	$1.00
Ethena USDe	+0.3%	$1.00

Among the many prime 5 stablecoins by dominance, this week, Ethena USDe and Dai show +0.3% and +0.1% change, respectively. USDC reveals a adverse change of -0.2%. Tether and First Digital USD showcase no change. 

Final week, solely Dai confirmed stability. The others confirmed optimistic modifications, starting from +0.1% to +0.4%

Additionally Test Out: Stablecoin April 2024 Report: An In-Depth Performance Analysis. 

4. Bitcoin ETF Weekly Evaluation

Bitcoin Futures ETFs and Bitcoin Spot ETFs ought to be analysed individually, to be able to get the correct image of the Bitcoin ETF market, as they characterize two totally different segments. Let’s begin!

4.1. Bitcoin Futures ETF Weekly Evaluation

ProShares (BITO), VanEck (XBTF), Valkyrie (BTF), World X (BITS), and Ark/21 Shares (ARKA) are the highest Bitcoin Future ETFs, as per the Asset Beneath Administration index. Let’s use the value change share index to analyse these ETFs.

Bitcoin Futures ETFs	Worth Change (Acquire/Loss) [in %]	Asset Beneath Administration (in Million)	Worth
Proshares (BITO)	-2.84%	$598.78M	$24.64
VanEck(XBTF)	+0.33%	$42.41M	$39.22
Valkyrie (BTF)	-3.38%	$38.20M	$17.44
World X(BITS)	-3.71%	$26.10M	$59.63
Ark/21 Shares (ARKA)	-2.16%	$8.01M	$58.36

Among the many prime 5 Bitcoin Futures ETFs by Asset Beneath Administration, this week, solely VanEck reveals a optimistic change of +0.33%. The others showcase adverse modifications. With -3.71% change, World X information the best adverse change. Valkyrie, Proshares and Ark/21 Shares comply with with -3.38%, -2.84% and -2.46%.

Within the earlier week, all of those ETFs expressed optimistic modifications. The one with the best change was Ark/21 Shares, which recorded a change of +4.72%.

4.2. Bitcoin Spot ETF Weekly Evaluation

Grayscale (GBTC), Blackrock (IBIT), Constancy (FBTC), Ark/21 Shares (ARKB), and Bitwise (BITB) are the highest Bitcoin Spot ETFs, as per the Asset Beneath Administration index. Let’s analyse them utilizing the value change index. 

Bitcoin Spot ETFs	Worth Change (Acquire/Loss) [in %]	Asset Beneath Administration (in Billion)	Worth
Grayscale (GBTC)	-2.84%	$24.33B	$53.99
BlackRock(IBIT)	-2.81%	$17.24B	$34.58
Constancy (FBTC)	-2.95%	$9.90B	$53.05
Ark/21 Shares (ARKB)	-2.98%	$2.85B	$60.64
Bitwise (BITB)	-2.85%	$2.16B	$33.07

Among the many prime 5 Bitcoin Spot ETFs by AUM, none of them present a optimistic change. Ark/21 Shares information the best adverse change of -2.98%. The others carefully comply with with modifications ranging between -2.95% to -2.81%.  

Final week, all of those ETFs displayed optimistic modifications. None of them confirmed a change decrease than 4%. 

This May Curiosity You: Should You Invest in Bitcoin ETFs? Detailed Monthly Review and Analysis for April 2024

5. DeFi Market Weekly Standing Evaluation

Lido, EigenLayer, AAVE, Maker, and JustLend are the 5 prime DeFi protocols on the idea of TVL. Let’s analyse its weekly efficiency utilizing the 7d Change index.

DeFi Protocols	7d Change (in Complete Worth Locked) [in %]	TVL
Lido	-6.16%	$27.448B
EigenLayer	-7.60%	$14.368B
AAVE	-3.02%	$10.297B
Maker	-1.58%	$8.062B
JustLend	-2.78%	$5.963B

Among the many prime 5 DeFi protocols by TVL, this week, none of them registers optimistic modifications. The very best adverse change of -7.60% is recorded by EigenLayer. Lido carefully follows with -6.16%. AAVE, Simply Lend and Maker show -3.02%, -2.78%, and -1.58%, respectively. 

Final week, all of those DeFi protocols skilled optimistic modifications. EigenLayer recorded the best optimistic change of +1.08%. Maker adopted with a change of +0.95%. 

6. NFT Market: A Primary Weekly Evaluation

Blur, Blur Aggregator, Cryptopunks, Gem and X2Y2 are the highest NFT marketplaces on the idea of market share. Let’s analyse them utilizing the Quantity Change (change of final 7d quantity over the earlier 7d quantity) index.  

In comparison with the earlier week, this week the market share of Cryptopunks has witnessed a substantial improve from 2.99% to 14.98%. Conversely, Blur has skilled a notable discount from 69.55% to 57.83%.  

NFT Marketplaces	Quantity Change [Last 7 Day over the Previous 7 Day Volume]	Market Share	7-day Rolling Quantity	7-day Rolling Trades
Blur	-29.12%	57.83%	11414.71	21540
Blur Aggregator	-30.39%	23.19%	5075.31	9015
Cryptopunks	+15.57%	14.98%	1520.48	31
Gem	-1.02%	1.02%	269.54	1457
X2Y2	+32.90%	0.81%	300.36	158
Others		2.17%

Among the many prime 5 NFT marketplaces by market share, this week, X2Y2 information the best quantity change of +32.90%. Cryptopunks follows with +15.57%. Gem registers a change of -1.02%. Blur Aggregator and Blur present -30.39% and -29.12% change, respectively.

Within the earlier week, the one one market place which showcased a optimistic change was Blur. It marked a change of +17.82%. That week, Cryptopunks, with -73.99% change, was the one which confirmed the best adverse change. 

6.1. High NFT Collectible Gross sales this Week

CryptoPunks #3619, CryptoPunks #4926, Azuki #4357, CryptoPunks #2549, and BOOGLE #Hwh6Z4 are the highest NFT collectable gross sales reported this week within the NFT market panorama. 

NFT Collectibles	Worth (in USD)
CryptoPunks #3619	$627,990.88
CryptoPunks #4926	$329,252.84
Azuki #4357	$273,445.56
CryptoPunks #2549	$194,213.80
BOOGLE #Hwh6Z4	$192,124.10

CryptoPunks #3619 is priced at $627,990.88, which is the best recorded this week. CryptoPunks #4926, priced at $329,252.84, is the second greatest value. Azuki #4357 ($273,445.56) and CryptoPunks #2549 ($194,213.80) maintain the third and fourth positions when it comes to value, respectively. BOOGLE #Hwh6Z4 is priced at $192,124.10.   

7. Web3 Weekly Funding Evaluation

7.1. Common Crypto Fundraising Development Evaluation

Between Could sixth and twelfth, 2024, the variety of fundraising rounds reported is over 30. The entire funds raised on this interval is round $142.50M. Earlier week, between April twenty ninth and Could fifth, 2024, the variety of fundraising rounds reported was 30, the identical because the one reported now. However, the whole funds raised in that interval was $143.96M, barely larger than the one reported this week.    

The 2 prime areas of the final crypto fundraising development evaluation are the crypto fundraising by class evaluation and the highest crypto funding areas evaluation.  

7.1.1. Crypto Fundraising by Class This Week

Blockchain Infrastructure, Blockchain Companies, CeFi, Chain, DeFi, GameFi, NFT and Social are the classes, which witnessed actions this week. Let’s analyse them utilizing the Variety of Fundraising Rounds and Funds Raised in USD indices. 

Class	Variety of Fundraising Rounds Could 6 – 12, 2024	Funds Raised in USDCould 6 – 12, 2024
Blockchain Infrastructure	7	$41.90M
Blockchain Companies	8	$25.10M
CeFi	4	$32.50M
Chain	3	$9.50M
DeFi	2	$7.00M
GameFi	3	$13.50M
NFT	2	$10.00M
Social	1	$3.00M

This week, Blockchain Infrastructure, raised the best quantity of $41.90M, receives the primary place. CeFi, raised $32.50M, will get the second. Blockchain Companies, with $25.10M, stays within the third place. GameFi, NFT and Chain raised $13.50M, $10.00M, and $9.50M, respectively. DeFi and Social secured $7.00M and $3.00M, respectively. 

Within the earlier week, CeFi, raised $47.00M, was the class that attained the primary place when it comes to funds raised. DeFi and Social adopted with $28.00M and $20.00M funds raised, respectively. 

7.1.2. High Crypto Funding Places This Week

Other than the undisclosed, Singapore, Switzerland, United States, Sweden, Hong Kong and United Kingdom are the highest crypto funding areas this week.  

Crypto Funding Places	Funds Raised in (%)	Funds Raised in USD	Variety of Fundraising Rounds
Undisclosed	84%	$120.76M	23
Singapore	5%	$7.00M	1
Switzerland	4%	$5.50M	1
United States	4%	$5.60M	2
Sweden	1%	$1.60M	1
Hong Kong	1%	$1.50M	1
United Kingdom	1%	$1.00M	1

This week, Undisclosed raised the best quantity of $120.76M, which is nearly 84% of the whole funds raised. Singapore and Switzerland secured $7.00M and $5.50M, respectively, that are simply 5% and 4% of the whole funds raised. The US raised $5.60M, which can also be 4% of the whole quantity raised. Sweden, Hong Kong, and the UK attained $1.60M, $1.50M, and $1.00M, respectively – every represents simply 1% of the whole funds raised. 

Final week, the USA, which grew to become the highest performer by funds raised, amassed practically $58.80M – which was round 45% of the whole funds raised. This week, we see an uncommon development of Undisclosed – the amount of cash it collected final week was underneath 43% of the whole funds raised. What we see in undisclosed is a 41% achieve within the share of the whole funds raised; in the USA is a 41% loss.  

7.2. ICO Panorama: A Weekly Overview

ICO	Fund Obtained	Token Worth	Fundraising Aim	Complete Tokens	Token (Obtainable for Sale)
Trailblaze	$1,430,000	$0.015	$730,000	420,000,000	30.3%
Morpheus	N/A	N/A	N/A	42,000,000	N/A

Trailblaze and Morpheus are the key ICOs that ended this week. Let’s analyse how a lot quantity they acquired. Trailblaze raised a powerful sum of $1,430,000. Its token value is $0.015 and its token (accessible on the market) is 30.3%. 

8. Weekly Blockchain Hack Evaluation

As of Could eleventh, 2024, hackers have stolen a complete of $7.82 billion, largely from decentralised finance (DeFi) platforms and blockchain bridges. DeFi platforms suffered essentially the most vital losses, about $5.9 billion, whereas bridges connecting totally different blockchains misplaced round $2.83 billion.

The 2 main hacks reported not too long ago are Yield Protocol Hack and Pike Finance Hack. Each these hacks have been reported on the final day of the earlier month, thirtieth April, 2024. Yield Protocol misplaced about $181,000 as a consequence of a stability disparity exploit. Round $1.6 million was stolen from Pink Finance utilizing a storage misalignment exploit.

Within the month of Could, to this point, no main hacks have been reported. 

Endnote

On this week’s complete evaluation of Web3, Blockchain and Crypto, we now have introduced out highly effective insights, which can be utilized to stay-to-data in regards to the market developments. Because the panorama evolves, the strategic integration of know-how and data-driven decision-making turns into paramount for stakeholders navigating the dynamic realms of decentralised applied sciences.