This comprehensive report provides data-driven insights into the Web3, Blockchain, and Crypto sectors this week. Notable developments include warnings about phishing scams for the Shiba Inu community, the sentencing of Sam Bankman-Fried, the launch of a new staking ETP for Toncoin, Ethereum regulation scrutiny by US congressional committees, speculation about the Munchables hacker's North Korean ties, the consolidation of a 2010 Bitcoin reward, and the merging of tokens by leading AI and Web 3 companies. Additionally, the report analyzes blockchain performance, crypto market trends, stablecoin dynamics, Bitcoin ETF status, DeFi protocols' stability, NFT marketplace activity, and the ICO landscape. Insights from this analysis can inform strategic decisions and empower stakeholders in the constantly evolving digital asset ecosystem.
Web3, Blockchain, and Crypto: A Comprehensive Weekly Analysis
Breaking News
- Shiba Inu Phishing Scam Warning: Shiba Inu's marketing strategist alerts users of phishing links from compromised accounts, emphasizing caution against connecting wallets to suspicious websites.
- Former FTX CEO Sam Bankman-Fried Sentenced to 25 Years: Sam Bankman-Fried, founder of the collapsed FTX exchange, faces a 25-year prison sentence after being convicted of seven criminal charges, marking a significant legal milestone in holding cryptocurrency executives accountable for their actions.
- New Staking ETP Capitalizes on Toncoin Growth: A prominent ETP issuer launches a new product, enabling investors to stake Toncoin and capitalize on the expansion of The Open Network.
- Hashdex Bitcoin Futures ETF Renamed to Hashdex Bitcoin ETF: Hashdex collaborates with Tidal Investments LLC to convert its Bitcoin Futures ETF into a spot ETF, trading under the ticker 'DEFI,' aligning the fund with spot market dynamics.
- Concerns Raised Over SEC's Approach to Ethereum Regulation: US congressional committees express concerns regarding the SEC's handling of Ethereum regulation, particularly in response to Prometheum's plans for institutional custody services.
- Munchables Hacker Returns Stolen Funds: The hacker behind the Munchables exploit returns stolen Ether worth $62 million, while speculations arise about the hacker's possible ties to North Korea.
- Consolidation of 2010 Bitcoin Reward Raises Speculation: An unidentified entity consolidates 2,000 Bitcoin mined in 2010 into a single wallet, attracting attention within the cryptocurrency community and sparking speculation about the motivations behind the move.
- COTI and Civic Partner to Enhance Digital Identity Management: COTI and Civic announce a partnership to empower users with confidentiality and self-sovereignty over their digital identities, leveraging COTI's V2's Ethereum-based confidentiality layer to advance decentralized identity management.
- Leading AI and Web 3 Companies Merge Tokens to Advance Superintelligence: Fetch.AI, SingularityNET, and Ocean Protocol merge their native tokens into ASI, owned by the Superintelligence Collective, to accelerate artificial superintelligence research.
- Tether Embraces AI Expansion to Enhance Stablecoin Technology: Tether announces plans to intensify its focus on artificial intelligence, aiming to enhance efficiency and accessibility in the technology sector.
- Worldcoin's Eyeball Scan Project Draws Regulatory Scrutiny in Europe: Worldcoin's "proof of personhood" project faces scrutiny over its biometric data collection method in Europe, with Portugal's CNPD instructing a 90-day pause on data collection.
- CommEX Crypto Exchange Ceases Russian Operations Amid Regulatory Pressure: CommEX, which took over Binance's Russian operations, announces its exit from the country, aligning with Binance's departure plan initiated in 2023.
- Judge Sanctions SEC for Misconduct in Cryptocurrency Firm Case: U.S. District Judge Rober Shelby imposes sanctions on the SEC for serious misconduct in the DEBT Box legal action, criticizing the SEC's handling and highlighting concerns about abuse of power.
- UN Report Reveals North Korea's Cyberattack Involvement in Cryptocurrency: The UN Security Council releases a report revealing North Korea's significant earnings from cyberattacks, with 50% attributed to cryptocurrency-related activities.
Blockchain Performance
Top Performing Blockchains by 7-Day Change:
| Blockchain | 7-Day Change (in %) | TVL |
|---|
| Kardia | +1664% | $9.64M |
| Chiliz | +705% | $89,789 |
| BEVM | +419% | $242,549 |
| zkLink | +239% | $1.38M |
| Merlin | +143% | $97.73M |
Kardia surged by 1664%, leading the blockchain market, with Chiliz closely following at 705%. BEVM and zkLink also experienced substantial gains at 419% and 239%, respectively. Merlin exhibited a notable increase of 143%.
Top Performers: 7-Day Change in Top 5 Blockchains with Highest TVL:
| Blockchain | Dominance (in %) | 7d Change (in %) | TVL (in Billion) |
|---|
| Ethereum | 60.87% | +9.0% | $55,521,747,624 |
| TRON | 11.06% | +8.8% | $10,085,867,744 |
| BNB Smart Chain | 6.88% | +7.6% | $6,272,772,663 |
| Solana | 5.39% | +22.8% | $4,915,867,444 |
| Arbitrum One | 4.58% | +8.5% | $4,177,062,616 |
Over the past week, Solana exhibited the highest 7-day change in Total Value Locked at 22.8%, followed by Ethereum at 9.0%. TRON, BNB Smart Chain, and Arbitrum One also demonstrated notable increases in TVL at 8.8%, 7.6%, and 8.5%, respectively.
Crypto Market Analysis
Crypto 7-Day Price Change and Dominance Analysis:
| Cryptocurrency | 7-Day Change (in %) | Dominance Percentage | Market Cap |
|---|
| Bitcoin | +9.7% | 49.54% | $1,378,457,507,060 |
| Ethereum | +5.6% | 15.21% | $422,248,684,079 |
| Tether | +0.1% | 3.77% | $104,611,605,274 |
| BNB | +10.7% | 3.42% | $93,831,277,285 |
| Solana | +15.6% | 3.07% | $88,429,587,186 |
Over the last week, Solana experienced the highest price surge at 15.6%, followed by Binance Coin at 10.7% and Bitcoin at 9.7%. Ethereum saw a 5.6% increase, while Tether remained relatively stable with a minimal 0.1% change.
Top Gainers & Losers of the Week in Crypto Market:
Top Gainers:
| Cryptocurrency | 7-Day Gain | Price |
|---|
| dogwifhat | +102.97% | $4.55 |
| Core | +100.69% | $1.19 |
| Mantle | +58.50% | $1.27 |
| GateToken | +44.41% | $10.69 |
| Bitcoin Cash | +40.81% | $596.52 |
Top Losers:
| Cryptocurrency | 7-Day Loss | Price |
|---|
| KuCoin Token | -22.67% | $10.83 |
| Bittensor | -12.26% | $521.39 |
| Fantom | -9.93% | $0.9759 |
| Akash Network | -2.87% | $5.10 |
| Kaspa | -2.62% | $0.1374 |
Stablecoin Weekly Analysis:
| Stablecoin | Market Dominance (7d) [in %] | Market Capitalisation (7d) | Trading Volume (7d) | Market Capitalisation |
|---|
| Tether | 70.96% | $104,553,076,926 | $48,111,286,830 | $104,576,151,572 |
| USDC | 22.01% | $32,433,889,044 | $7,180,982,024 | $32,456,063,461 |
| Dai | 3.33% | $4,910,922,599 | $533,875,091 | $4,899,710,379 |
| First Digital USD | 1.74% | $2,560,453,704 | $6,899,236,201 | $2,561,623,998 |
| Ethena USDe | 1.02% | $1,505,632,078 | $271,07 |
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