Our Team
Our Clients
Awards
Licensing
Sustainability
Careers
Digital Wealth Management
Asset Management
Advisory, Liquidity, Investment & Research
Infrastructure
- 繁體中文
- English
Crypto Market
| BTC | ETH | |
| Weekly High | $28,324 | $1,884 |
| Weekly Low | $25,878 | $1,742 |
BTC and ETH Market Insight
The sudden surge of meme coins within a few weeks could be a significant sign of a potential peak in the market. $BTC slipped to 1-month lows and $ETH fell below $1,800. Trading activity dropped and large market makers pulled out of the US crypto market. The spotlight of the market shifted towards Bitcoin-related activities, including Ordinals and BRC-20 tokens. Additional utility on top of the Bitcoin network was something developers and miners have been seeking for a long time. The recent lower-than-anticipated CPI numbers barely helped the markets, and the investors were uncertain about the regulatory path forward.
Options Market
The market continued its indecisive move. Although the lower-than-expected CPI print initially pushed BTC and ETH to re-test 28,000 and 1,900 levels, bulls quickly ran out of steam - BTC and ETH both posted negative performance for the week. Short and mid-dated skew moved further up to favor puts whereas long-term skew still implies cautious optimism on the upside. The consolidation phase with signs of resilience is additionally supported by IVs being traded at near historical lows and little volatility premium from ETH over BTC.
Altcoins and Blockchain News
- Lido has announced its official launch of the V2 upgrade vote for its Ethereum mainnet application on Aragon. Once the vote is passed, Lido V2 will go live on May 15th.
- According to Blockworks, Coinbase co-founder Fred Ehrsam increased his stake in Coinbase (COIN) by $48.8 million this week, purchasing 810,000 shares of Coinbase stock at prices ranging from $59.30 to $63.20 per share on Tuesday and Wednesday.
- OKX has officially partnered with Bitcoin signature wallet UniSat Wallet to collaborate on double verification using OKX's self-developed BRC-20 ledger parsing and indexing library. UniSat will also become a data provider for OKX Web3 BRC-20 market data. OpenAI CEO
- Sam Altman's cryptocurrency project Worldcoin has announced that its ecosystem wallet, World App, will migrate from Polygon to Optimism mainnet. The World ID protocol will also be available on the Optimism mainnet.
- Layer 1 blockchain Odsy Network has completed a $7.5 million funding round at a valuation of $250 million, led by Blockchange Ventures, with participation from Rubik Ventures, Node Capital, and FalconX, among others.
- Bloomberg reports that Circle CEO Jeremy Allaire stated in an interview that he no longer holds US government bonds that mature after early June.
- Max Kordek, the co-founder of the blockchain application platform Lisk, tweeted that the Lisk Foundation will sell 100 BTC per week and exchange 1,000 BTC for ETH over the next 10 weeks, with the ETH becoming part of the foundation's long-term funds.
- Coinbase announced on May 9th that it has added Sui (SUI) to its roadmap asset list.
Macro
The major U.S. stock indexes experienced little movement last Monday and decreased on Tuesday as investors waited for critical inflation data and concerns surrounding the U.S. debt ceiling to impact the markets. However, rallies in both U.S. bonds and stocks occurred Wednesday after fresh inflation figures were released, showing continued cooling for the 10th consecutive month. In April, the consumer-price index increased by 4.9% from a year ago, slightly lower than March's 5% increase, and up 0.4% for the month, in line with economists' predictions. Nevertheless, the S&P and Dow ended the week on a decline, posting their second straight weekly loss because of regional bank concerns and rising consumer inflation expectations revealed by survey data.
Share
Weekly Market Update - 22 July 2024
Amber Group
Weekly Market Update - 15 July 2024
Amber Group
Weekly Market Update - 08 July 2024
Amber Group
Weekly Market Update - 01 July 2024
Amber Group
