Welcome to Web3, Blockchain & Crypto Weekly Journal, your go-to supply for the most recent developments in blockchain, cryptocurrency, and the evolving Web3 panorama. Every week, we provide you with a complete overview of breaking information, insightful analyses, and in-depth protection of key business developments.
On this fast-paced, extremely aggressive digital period, staying knowledgeable is paramount. Our mission is to give you curated content material that distills complicated information and ideas into simply digestible insights, empowering you to navigate the ever-changing panorama of Web3, blockchain, and crypto with confidence.
Our weekly report is meticulously crafted utilizing authentic information sourced from reputed platforms comparable to Coingecko, Defilama, Coinmarketcap, Blockworks, ETFdb, Cryptoslam, ICODrops, and Cruchbase. By leveraging these trusted sources, we make sure the accuracy and reliability of our analyses.
Here’s a glimpse of what you possibly can count on from every version of Web3, Blockchain and Crypto Weekly Journal.
Blockchain efficiency: Analyses prime blockchains, highlighting movers and shakers primarily based on 7-day adjustments and TVL. Cryptocurrency Market: Covers costs, dominance developments, and notable gainers and losers of the week. Stablecoin Overview: Explores main stablecoin stability and progress utilizing metrics like market capitalisation, dominance and buying and selling quantity.
Bitcoin ETF Market Evaluation: Examines the evolving panorama of Bitcoin ETFs, together with futures and spot.
DeFi Market Overview: Supplies insights into the decentralised finance sector, monitoring metrics like 7-day TVL. NFT Market Evaluation: Explores NFT market exercise, in addition to prime NFT collectible gross sales. Web3 Funding Evaluation: Reveals an outline of the ICO panorama. Weekly Blockchain Hack Evaluation: Supplies clear insights about hacks and related losses.
Web3, Blockchain & Crypto Weekly Journal is your trusted companion on the journey in direction of a decentralised future. Be a part of us every week, as we unravel the most recent improvement utilizing authentic information.
Web3, Blockchain & Crypto Weekly Report
This evaluation report, backed by high quality information, covers the key developments the Web3, Blockchain and Crypto panorama has witnessed this week.
1. Breaking Information This Week
- SEC Expenses Former Zipmex CEO with Corruption
The SEC accuses ex-CEO of Zipmex Thailand, Akarlap Yimwilai, of fraudulent actions throughout his tenure, together with false statements and concealing important data.
- Management Change at Hub 8 Bitcoin Mining
Hub 8 proclaims Asher Genoot as a brand new CEO following allegations in opposition to former administration practices and funds raised by an activist report.
- HELLO Labs Companions for Crypto for Crypto TV Collection
HELLO Labs groups up with MarketAcross to launch “Killer Whales,” a crypto tv collection, aiming to entertain and educate world viewers on blockchain know-how.
- NBA Faces Lawsuit Over Crypto Advertising and marketing Deal
A category motion lawsuit alleges the NBA’s negligence in selling defunct crypto exchanges, resulting in investor losses amid market turbulence in 2022.
- Ethereum Staking Hits 25% Milestone
Roughly 30 million ETH, equal to 25% of the overall provide, is now staked, signalling important neighborhood participation in Ethereum’s staking ecosystem.
- SEC Delays Determination on Ethereum ETF
The SEC postpones its determination on a joint spot Etheruem ETF proposal by Invesco and Galaxy Digital for the second time, persevering with the pattern of regulatory delays.
- South Korea to Examine OKX Trade
South Korean authorities lauch an investigation into OKX over allegations of improper registration and influencer-driven promotions of its providers in Telegram communities.
- Binance Denies Knowledge Breach Allegations
Binance refutes claims of a knowledge breach made by a hacker who purportedly gained entry to a legislation enforcement request account, sustaining the safety of person accounts.
- South Korea Contemplating Spot Bitcoin ETFs
South Korea’s Monetary Supervisory Companies expresses curiosity in exploring spot Bitcoin ETFs, signalling a possible shift within the nation’s regulatory stance in direction of cryptocurrency exchange-traded funds.
- El Salvador’s President Bukele Wins Landslide Victory
President Nayib Bukele secures a landslide victory in El Salvador’s elections, doubtlessly paving the best way for his re-election, buoyed by his anti-gang measures and Bitcoin adoption.
2. Blockchain Efficiency
On this part, we’ll analyse two components 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 very 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 ZetaChain (+3318%), Omax (+585%), Algorand (+183%), Kintsugi (+125%), and Bitcoin (+68.76%).
| Blockchain | 7-Day Change (in %) | TVL |
| ZetaChain | +3318% | $1.93m |
| Omax | +585% | $207,886 |
| Algorand | +183% | $319.2m |
| Kintsugi | +125% | $457,433 |
| Bitcoin | +98.76% | $606.27m |
ZetaChain confirmed probably the most important progress, adopted by Omax and Algorand. Kintsugi and Bitcoin additionally skilled notable will increase.
2.2. High Performers: 7-Day Change in High 5 Blockchains with Highest TVL
Ethereum, Tron, BSC, Arbitrum and Solana are the highest 5 blockchains out there on the idea of TVL. Let’s see how these blockchains have carried out this week.
| Blockchain | 7d Change | TVL (in Billion) |
| Ethereum | +18.09% | $38.925b |
| Tron | +7.28% | $8.554b |
| BSC | +2.10% | $3.627b |
| Arbitrum | +6.40% | $2.802b |
| Solana | +12.38% | $1.832b |
Among the many prime 5 blockchains with the very best Whole Worth Locked, Ethereum led with a 7-day change of +18.09% this week, indicating important progress. Solana adopted carefully with a change of +12.38%, displaying substantial optimistic motion. Tron and Arbitrum skilled average will increase of +7.28% and +6.40%, respectively. BSC confirmed the smallest change at +2.10%.
3. Crypto Market Evaluation
The crypto value and dominance evaluation and prime good points and losers evaluation are the 2 prime components of the crypto market evaluation.
3.1. Crypto Worth and Dominance Evaluation
The full cryptocurrency market capitalisation, as on ninth Friday, February, 2024, is $1,871,882,825,034. In the meantime, the overall crypto quantity is $93,544,148,196.
BTC, ETH, USDT, BNB, SOL and XRP are the highest cryptocurrency as per the market cap index. Let’s perceive the dominance state of affairs.
| Cryptocurrency | Dominance Proportion | Worth | Market Cap | 7d- Change |
| BTC | 48.36% | $47.406.03 | $930,277,176,250 | +9.8% |
| ETH | 16.15% | $2,505.80 | $301,117,548,622 | +8.0% |
| USDT | 5.32% | $1.00 | $96,288,427,250 | +0.1% |
| BNB | 2.68% | $324.35 | $50,060,466,107 | +7.4% |
| SOL | 2.46% | $110.17 | $48,144,889,529 | +10.6% |
| XRP | 1.55% | $0.5253 | $28,641,133,228 | +3.6% |
| Others | 23.48% |
This week, Solana confirmed probably the most important rise at 10.6%, with a 2.46% dominance and a market cap of $48.14 billion. Bitcoin additionally carried out effectively with a 9.8% improve, sustaining dominance at 48.36% and a market cap of $930.28 billion. Ethereum adopted carefully, up by 8.0%, with a 16.15% dominance and a market cap of $301.12 billion. Binance Coin additionally surged by 7.4%, whereas XRP elevated by 3.6%. USDT solely demonstrated a slight improve of 0.1%.
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 crypto foreign money market. The evaluation is made utilizing the 7-day Acquire and 7-day Lose indexes.
3.2.1. High Gainers of the Week in Crypto
Dymension, Kaspa, Bonk, BitTorrent (New), and Terra Basic are the highest gainers of the week within the crypto market.
| Cryptocurrency | Worth | 7-Day Acquire |
| Dymension | $7.64 | +91.19% |
| Kaspa | $0.1381 | +34.48% |
| Bonk | $0.00001345 | +28.67% |
| BitTorrent (New) | $0.000001026 | +27.34% |
| Terra Basic | $0.0001202 | +25.89% |
This week’s crypto market witnessed notable good points amongst numerous cryptocurrencies. Dymension led with a formidable 91.19% improve, adopted by Kaspa (+34.48%), Bonk (28.67%), BitTorrent (New) (+27.34%), and Terra Basic (+25.89%).
3.2.2. High Losers of the Week in Crypto
Monero, Ronin, Jupiter, Frax Share and WEMIX are the losers of the week within the cryptocurrency market.
| Cryptocurrency | Worth | 7-Day Loss |
| Monero (XMR) | $121.27 | -28.04% |
| Ronin (RON) | $2.59 | -13.75% |
| Jupiter (JUP) | $0.5197 | -11.15% |
| Frax Share (FXS) | $9.08 | -10.71% |
| WEMIX (WEMIX) | $2.24 | -6.53% |
This week’s crypto market noticed notable losses amongst a number of cryptocurrencies. Monero skilled probably the most important decline at -28.04%, adopted by Ronin at 13.75%, Jupiter at -11.15%, Frax Share at -10.71%, and WEMIX (WEMIX) at -6.53%.
3.3. Stablecoin Weekly Evaluation
Tether, USDC, DAI, First Digital USD, and TrueUSD are the highest stablecoins out there when it comes to market capitalization. Let’s analyse their weekly efficiency using seven-day market capitalisation, market dominance and buying and selling quantity indexes.
| Stablecoins | Market Capitalisation | Market Capitalisation (7d) | Market Dominance (7d) [in %] | Buying and selling Quantity (7d) |
| Tether (USDT) | $96,294,862,958 | $96,268,386,138 | 71.81% | $38,958,319,354 |
| USDC (USDC) | $27,927,324,932 | $27,730,047,416 | 20.55% | $7,139,178,037 |
| Dai (DAI) | $4,891,823,704 | $4,871,962,731 | 3.64% | $92,349,617 |
| First Digital USD | $2,770,743,728 | $2,692,561,029 | 1.89% | $5,798,103,475 |
| TrueUSD | $1,464,994,714 | $1,463,027,879 | 1.09% | $85,266,087 |
In our weekly evaluation of stablecoins, we noticed various developments of their seven-day market efficiency. Tether (USDT) maintained a dominant place with a maket capitalisation of $96.27 billion and a market dominance of 71.81%. Regardless of a slight lower, it continued to carry the most important share of the stablecoin market. USDC and DAI additionally skilled average declines in market capitalisation, with USDC at $27.73 billion and Dai at $4.87 billion. Nonetheless, First Digital USD and TrueUSD confirmed comparatively steady market capitalisation at $2.69 billion and $1.46 billion, respectively.
Buying and selling volumes mirrored investor exercise, with USDT main at $38.96 billion, adopted by USDC at $7.13 billion and First Digital USd at $5.79 billion, demonstrating the liquidity and demand for these stablecoins within the cryptocurrency market.
4. Bitcoin ETF Weekly Evaluation
Bitcoin Futures ETFs and Bitcoin Spot ETFs needs to be analysed individually, with the intention to get the precise image of the Bitcoin ETF market, as they exhibit completely different traits. Let’s begin!
4.1. Bitcoin Futures ETF Weekly Evaluation
ProShares, VanEck, Valkyrie, International X and Ark/21 Shares are the highest Bitcoin Future ETFs, as per the Asset Below Administration index. Let’s use the change proportion index to analyse these ETFs.
| Bitcoin Futures ETFs | Asset Below Administration (in Billion) | Worth | Change (Acquire) |
| ProShares (BITO) | $598.78M | $22.54 | +4.45% |
| VanEck (XBTF) | $42.41M | $39.22 | +0.33% |
| Valkyrie (BTF) | $38.20M | $14.78 | +3.50% |
| International X (BITS) | $26.10M | $55.23 | +8.61% |
| Ark/21 Shares (ARKA) | $8.01M | $46.88 | +4.37% |
On this week’s Bitcoin Futures ETF evaluation, International X led with a acquire of 8.61%. Proshares, Ark/21 Shares, and Valkyrie adopted carefully, gaining +4.45%, 4.37%, and +3.50%. VanEck recorded a modest 0.33% acquire.
4.2. Bitcoin Spot ETF Weekly Evaluation
Grayscale, Blackrock, Constancy, Ark/21 Shares and Bitwise are the highest Bitcoin Spot ETFs, as per the Asset Below Administration index. Let’s analyse them utilizing the change index.
| Bitcoin Spot ETFs | Asset Below Administration (in Billion) | Worth | Change (Acquire) |
| Grayscale (GBTC) | $20.27B | $42.48 | +4.42% |
| BlackRock (IBIT) | $3.31B | $27.15 | +4.30% |
| Constancy (FBTC) | $2.75B | $41.64 | +4.41% |
| Ark/21 Shares (ARKB) | $717.00M | $47.60 | +4.39% |
| Bitwise (BITB) | $672.40M | $25.95 | +4.43% |
On this week’s Bitcoin Spot ETF evaluation, Bitwise, Grayscale and Constancy led good points with a 4.43%, 4.42%, and 4.41% improve, respectively. Ark/21 Shares and BlackRock carefully adopted, gaining 4.39% and 4.30% respectively.
5. DeFi Market Weekly Standing Evaluation
Lido, Maker, AAVE, JustLend, and EigenLayer are the 5 prime DeFi protocols accessible. Let’s analyse its weekly efficiency utilizing the 7d Change index.
| DeFi Protocols | TVL | 7d Change (in Whole Worth Locked) [in %] |
| Lido | $24.207b | +9.18% |
| Maker | $8.145b | +4.47% |
| AAVE | $7.474b | +6.82% |
| JustLend | $6.593b | +7.08% |
| EigenLayer | $6.065b | +181% |
Within the DeFi market this week, EigenLayer leads with a strong progress of 181%. Lido stands with a 9.18% improve, adopted carefully by JustLend and AAVE with an increase of seven.08% and 6.82%, respectively. Maker additionally maintains its momentum, marking a 4.47% improve.
6. NFT Market: A Fundamental Weekly Evaluation
Blur, Blur Aggregator, Opensea, Gem and X2Y2 are the highest NFT marketplaces as per the 7-day Rolling Quantity index. Let’s analyse them utilizing the 7-Day Rolling Quantity, 7-Day Rolling Commerce and Quantity Change indexes.
| NFT Marketplaces | Market Share | 7-day Rolling Quantity | 7-day Rolling Commerce | Quantity Change [Last 7 Day over the Previous 7 Day Volume] |
| Blur | 47.94% | 29969.97 | 53359 | +15.20% |
| Blur Aggregator | 25.89% | 14325.34 | 28959 | +24.12% |
| Opensea | 18.85% | 10600.50 | 37780 | +25.64% |
| Gem | 2.44% | 1328.45 | 6467 | -14.69% |
| X2Y2 | 2.25% | 1451.49 | 1880 | +143% |
On this week’s NFT market evaluation, X2Y2 leads with a 143% improve in buying and selling quantity in comparison with the earlier week. Opensea, and Blur Aggregator observe with a notable quantity surge of 25.64% and 24.12%, respectively.
Blur additionally reveals a relatively average quantity surge of 15.20%. Nonetheless, Gem experiences a decline of 14.69%.
6.1. High NFT Collectible Gross sales this Week
Bored Ape Yacht Membership #1726, CryptoPunks #1510, CryptoPunks #9736, CryptoPunks #735, and Azuki #9143 are the highest NFT collectable gross sales reported this week within the NFT market panorama.
| NFT Collectibles | Worth (in USD) |
| Bored Ape Yacht Membership #1726 | $668,296.81 |
| CryptoPunks #1510 | $348,356.50 |
| CryptoPunks #9736 | $240,322.81 |
| CryptoPunks #735 | $233,247.69 |
| Azuki #9143 | $217,261.03 |
Bored Ape Yacht Membership #1726 was bought for $668,296.81. CryptoPunks #1510, CryptoPunks #9736, and CryptoPunks #735 acquired $348,356.50, $240,322.81, and $233,247.69, respectively. Azuki #9143 additionally secured round $217,261.03.
7. Web3 Weekly Funding Evaluation
7.1. ICO Panorama: A Weekly Overview
Ta-da, MeMusic, Meson.Community, Lends, Icon.X World, and Web3War are the key ICOs that ended this week.
| ICO | Token Worth | Acquired | Acquired (in %) | Fundraising Aim | Whole Tokens | Token (Obtainable for Sale) |
| Ta-da (Synthetic Intelligence) | 0.022 USD | $4,550,00 | 100 | $1,100,000 | 1,000,000,000 | 27.57% |
| MeMusic (Platform) | 0.02 USD | $4,070,000 | 100% | $300,000 | 1,000,000,000 | 25.75% |
| Meson.Community (Blockchain Service) | 1.75 USD | $12,250,000 | 100% | $8,750,000 | 100,000,000 | 31% |
| Lends (Lending) | 0.02 USD | $3,820,000 | 100% | $190,000 | 625,000,000 | 46.32% |
| Icon.X World (Platform) | 0.075 USD | $1,420,000 | 100% | $670,000 | 100,000,000 | 24.5% |
| Web3War (Gaming) | 0.0533 USD | $1,650,000 | 100% | $1,650,000 | 150,000,000 | 25% |
Ta-da acquired $4,550,00. MeMusic, Meson.Community, Lends secured $4,070,000, $12,250,000, and $3,820,000, respectively. Icon.X World, and Web3War additionally amassed $1,420,000, and $1,650,000, respectively.
8. Weekly Blockchain Hack Evaluation
As on tenth, February, 2024, the overall worth hacked is $7.65b. The full worth hacked in DeFi is $5.79, and the overall worth hacked in bridges is $2.83.
On thirtieth January, 2024, Abracadabra suffered a hack, inflicting a lack of $6.5m. On 22 Jan, and 16 Jan, 2024, Concentric and Bungee skilled comparable hacks, inflicting a lack of $1.17m and $3.3m, respectively. On twelfth Jan, and 4th Jan, 2024, Clever Lending and Gamma suffered hacks, making a lack of $0.46m, and $4.5m, respectively.
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.
