This analysis report, backed by quality data, covers the major developments the Web3, Blockchain, and Crypto landscape has witnessed this week.
1. Top Crypto News This Week
- German Banking Group Enters Crypto Trading Pilot Phase
One of Germany’s largest banking groups, with 700+ local banks, plans to launch crypto trading services, entering the project’s pilot phase soon.
- Thai SEC Temporarily Halts Zipmex Trading Services
Thailand’s SEC orders Zipmex to suspend trading for 15-days to address financial and operational issues affecting the cryptocurrency exchange.
- BlackRock’s Bitcoin ETF Outpaces Grayscale in Trading Volume
BlackRock’s spot Bitcoin ETF surpasses Grayscale in trading volume, marking a notable shift in the competitive landscape of US Bitcoin funds.
- Biden Administration Implements Reporting Rules for Crypto Miners
The Biden Administration imposes new reporting requirements on U.S. cryptocurrency miners to disclose electricity consumption data, aiming to address environmental concerns.
- Bitfinex Launches Securities Trading Platform in EI Salvador
Bitfinex launched a registered and licensed securities trading platform in EI Salvador, becoming the country’s first recognized digital assets service provider.
- FTX’s $400M Hack Resolved
- Court records show that three people were indicted for an identity theft conspiracy that allegedly included the $400 million hack in late 2022 of the doomed cryptocurrency exchange FTX.
- $112 Million XRP Hack Targets Chairman’s Account
On Tuesday, hackers stole around $112 million of the Ripple-focused cryptocurrency XRP from a crypto wallet, Ripple’s co-founder and executive chairman has disclosed.
2. Blockchain Performance
In this section, we will analyse two things primarily: the top-performing blockchains based solely on their 7-day change and the top performers among the top five blockchains with the highest TVL.
2.1. Top Blockchain Performers by 7-Day Change
ETHF, Mode, Syscoin, EOS EVM and Rollux are the top blockchains of the week in terms of 7-day change.
| Blockchain | 7-Day Change (in %) | TVL |
| ETHF | +7729787% | $340,049 |
| Mode | +167865% | $20.69m |
| Syscoin | +301% | $267,909 |
| EOS EVM | +218% | $6.46m |
| Rollux | +161% | $2.28m |
The top-performing blockchains by 7-day change showcase impressive growth. ETHF leads with a remarkable +7729787% change, reflecting substantial market traction. Mode follows closely with a notable +167865% increase, demonstrating robust performance. Syscoin and EOS EVM also exhibit strong growth at +301% and +218%, respectively. Rollux, with a +161% change, contributes to the positive trend.
2.2. Top Performers: 7-Day Change in Top 5 Blockchains with Highest TVL
Ethereum, Tron, BSC, Arbitrum and Solana are the top five blockchains in the market on the basis of TVL. Let’s see how these blockchains have performed this week.
| Blockchain | 7d Change | TVL (in Billion) |
| Ethereum | +1.80% | $32.786b |
| Tron | +2.27% | $7.954b |
| BSC | -0.98% | $3.566b |
| Arbitrum | +1.64% | $2.634b |
| Solana | +15.45% | $1.635b |
This week, Etheruem, Tron, and Arbitrum have shown positive 7-day changes of +1.80%, +2.27%, and +1.54% respectively, maintaining their strong positions. Solana stands out with a remarkable +15.45% surge, reflecting substantial growth. Meanwhile, BSC experienced a slight decrease of -0.98%.
3. Crypto Market Analysis
The crypto price and dominance analysis and top gains and losers analysis are the top price steps of the crypto market analysis.
3.1. Crypto Price and Dominance Analysis
BTC, ETH, USDT, BNB, SOL and XRP are the top cryptocurrencies as per the market cap index. Let’s understand the dominance scenario.
| Cryptocurrency | Dominance Percentage | Price | Market Cap | 7d- Change in Market Cap |
| BTC | 48.83% | $43,094.46 | $845,235,620,622 | 3.2% |
| ETH | 16% | $2,318.83 | $278,690,209,163 | 2.5% |
| USDT | 5.57% | $0.9998 | $96,135,125,625 | 0.1% |
| BNB | 2.69% | $303.30 | $46,626,243,688 | 0.4% |
| SOL | 2.5% | $99.69 | $43,506,518,453 | 8.8% |
| XRP | 1.6% | $0.5073 | $27,606,250,277 | 4.6% |
| Others | 22.81% |
Analysing the 7-day change in market cap among the top cryptocurrencies, SOL stands out with an impressive 8.8% increase in market cap, reflecting substantial growth. Meanwhile, XRP and BTC exhibit notable 7-day changes of 4.6% and 3.2% respectively. Despite a slight decrease in dominance, BTC maintains its leading position with a 48.83% market share, followed by ETH at 16%.
3.2. Top Gainers & Losers of the Week in Crypto Market
Here is the list of top gainers and top losers of the week in the crypto currency market. The analysis is made using the 7-day Gain and 7-day Lose indexes.
3.2.1. Top Gainers of the Week in Crypto
| Cryptocurrency | Price | 7-Day Gain |
| Ronin | $2.99 | +29.35% |
| Render | $4.99 | +28.16% |
| Flare | $0.02719 | +27.30% |
| Chainlink | $17.76 | +25.41% |
| Pendle | $2.92 | +22.76% |
With an impressive seven-day gain of 29.35%, Ronin stays as the top gainer. Meanwhile, Render, Flare, and Chainlink, closely follow with 28.16%, 27.30%, and 25.41%. Pendle, with 22.76% is also a powerful contestant.
3.2.2. Top Losers of the Week in Crypto
| Cryptocurrency | Price | 7-Day Loss |
| Jupiter | $0.5858 | -63.37% |
| FTX Token | $1.85 | -31.70% |
| Manta Network | $2.97 | -12.82% |
| Mantle | $0.5938 | -10.07% |
| Bonk | $0.00001042 | -8.50% |
| OKB | $49.03 | -8.33% |
With an unimpressive 7-day loss of -63.37%, Jupiter remains as the biggest loser. FTX Token, with -31.70%, is also a big loser. Manta Network, Mantle, Bonk and OKB are the other ones which are seen in the top loser list, though they have a comparatively lower 7-day loss of -12.82%, -10.07%, -8.50%, and -8.33%, respectively.
3.3. Stablecoin Weekly Analysis
Tether, USDC, DAI, First Digital USD, and TrueUSD are the top stablecoins in the market in terms of market capitalization. Let’s analyse their weekly performance employing seven-day market capitalisation, market dominance and trading volume indexes.
| Stablecoin | Market Capitalisation | Market Capitalisation (7d) | Market Dominance (7d) [in %] | Trading Volume (7d) |
| Tether | $96,212,842,264 | $96,250,022,549 | 72.12% | $33,907,893,524 |
| USDC | $27,069,285,390 | $26,837,075,556 | 20.16% | $5,454,466,161 |
| Dai | $4,876,182,029 | $4,889,778,756 | 3.66% | $110,094,075 |
| First Digital USD | $2,581,963,146 | $2,584,113,484 | 1.94% | $5,188,694,800 |
| TrueUSD | $1,469,992,730 | $1,470,048,144 | 1.10% | $55,719,933 |
In the weekly stablecoin analysis, Tether leads with a market capitalisation of $96.25 billion, maintaining a dominant 72.12% market share. Its substantial trading volume of $33.91 billion signifies high liquidity. USDC follows with a $26.84 billion market cap, holding a 20.16% market dominance and a trading volume of $5.45 billion. While DAI, First Digital USD, and TrueUSD contribute to the stablecoin landscape, Tether’s dominance and USDC’s stability are evident.
4. Bitcoin ETF Weekly Analysis
Bitcoin Futures ETFs and Bitcoin Spot ETFs should be analysed separately, in order to get the right picture of the Bitcoin ETF market, as they exhibit different characteristics. Let’s start!
4.1. Bitcoin Futures ETF Weekly Analysis
ProShares, VanEck, Valkyrie, Global X and Ark/21 Shares are the top Bitcoin Future ETFs, as per the Asset Under Management index. Let’s use the change percentage index to analyse these ETFs.
| Bitcoin Futures ETFs | Asset Under Management (in Billion) | Price | Change (Gain) |
| ProShares | $598.78M | $20.35 | -0.20% |
| VanEck | $42.41M | $39.22 | +0.33% |
| Valkyrie | $38.20M | $13.47 | +0.15% |
| Global X | $26.10M | $46.44 | -1.78% |
| Ark/21 Shares | $8.01M | $42.56 | +0.36% |
In the weekly analysis of top Bitcoin Futures ETFs, Ark/21 Shares leads with a positive 0.36% change. VanEck and Valkyrie also exhibit gains of 0.33% and 0.15% respectively. ProShares experiences a minor decrease of -0.20%, while Global X seen a notable decline of -1.78%.
4.2. Bitcoin Spot ETF Weekly Analysis
Grayscale, Blackrock, Fidelity, Ark/21 Shares and Bitwise are the top Bitcoin Spot ETFs, as per the Asset Under Management index. Let’s analyse them using the change index.
| Bitcoin Spot ETFs | Asset Under Management (in Billion) | Price | Change (Gain) |
| Grayscale | $20.56B | $38.34 | -0.18% |
| BlackRock | $3.01B | $24.50 | -0.16% |
| Fidelity | $2.59B | $37.58 | -0.21% |
| Ark/21 Shares | $684.20M | $42.95 | -0.26% |
| Bitwise | $648.20M | $23.41 | -0.17% |
In the weekly analysis of top Bitcoin Spot ETFs, all ETFs show slight declines. Grayscale experiences a -0.18% change, while others, including Fidelity and Ark/21 Shares, show -0.21% and -0.26% decreases, respectively.
5. DeFi Market Weekly Status Analysis
Lido, Maker, AAVE, JustLend, Uniswap are the five top DeFi protocols available. Let’s analyse its weekly performance using the 7d Change index.
| DeFi Protocols | TVL | 7d Change (in Total Value Locked) [in %] |
| Lido | $22.101b | +3.50% |
| Maker | $7.79b | -3.13% |
| AAVE | $6.972b | +1.42% |
| JustLend | $6.155b | +2.59% |
| Uniswap | $4.122b | +1.26% |
In the weekly analysis of top DeFi protocols, Lido leads with a notable 3.50% increase in seven-day change in TVL, showcasing robust growth. JustLend follows closely with a positive 2.59% change, while AAVE and Uniswap also exhibit gains of 1.42% and 1.26%, respectively. However, Marker experiences a -3.13% decrease in TVL.
6. NFT Marketplace: A Basic Weekly Analysis
Blur, Blur Aggregator, Opensea, Gem and Cryptopunks are the top NFT marketplaces as per the 7-day Rolling Volume index. Let’s analyse them using the 7-Day Rolling Volume, 7-Day Rolling Trade and Volume Change indexes.
| NFT Marketplaces | 7-day Rolling Volume | 7-day Rolling Trade | Volume Change [Last 7 Day over the Previous 7 Day Volume] |
| Blur | 24862.07 | 43833 | -14.47% |
| Blur Aggregator | 9258.95 | 21970 | -32.94% |
| Opensea | 6820.10 | 39360 | -31.43% |
| Gem | 1297.57 | 7847 | -23.92% |
| Cryptopunks | 1142.36 | 8 | -79.99% |
In the weekly analysis of top NFT marketplaces, Cryoptopunks sees a significant -79.99% volume change, indicating a substantial decrease in trading activity. Other platforms, including Blur Aggregator, Opensea, Gem, and Blur, also show declines ranging from -14.47% to -32.94%.
6.1. Top NFT Collectible Sales this Week
| NFT Collectibles | Price (in USD) |
| CryptoPunks #5363 | $1,530,619.88 |
| BOOGle #8Shcdjr | $253,421.72 |
| BOOGle #Dz1KFXM | $252,384.64 |
| Axie Infinity #4154 | $244,274.96 |
| BOOGLE #Hrniru1o | $241,942.97 |
This week’s top NFT collectable sales feature CryptoPunks #5363 leading at $1,530,619.88, followed by BOOGle #8Shcdjr, BOOGle #Dz1KFXM, Axie Infinity #4154, and BOOGLE #Hrniru1o with notable prices ranging from $241,942.97 to $253,421.72.
7. Web3 Weekly Funding Analysis
7.1. ICO Landscape: A Weekly Overview
Stratum Exchange, ZetaChain, SkyArk Chronicles, Dmail, IvendPay and Copycat Finance are the major ICOs that has ended this week.
| ICO | Received | Fundraising Goal | Total Tokens |
| Stratum Exchange | N/A | $100,000 | 25,000,000 |
| ZetaChain | $27,000,000 | 10,500,000 tokens | 2,100,000,000 |
| SkyArk Chronicles | $15,000,000 | N/A | N/A |
| Dmail | N/A | 6,000,000 tokens | 200,000,000 |
| IvendPay | $3,780,000 | $575,000 | 1,000,000,000 |
| Copycat Finance | $140,000 | $144,000 | 100,000,000 |
8. Weekly Blockchain Hack Analysis
On January 1, 2023, there was a total hack of $20.98 million. Then, on January 30, 2024, a significant hack occurred in Abracadabra on the Ethereum platform, resulting in a loss of $6.5 million. This incident is the major hack reported for this week.
Endnote
In this week’s comprehensive analysis of Web3, Blockchain and Crypto, we have brought out powerful insights, which can be used to stay-to-data about the market developments. As the landscape evolves, the strategic integration of technology and data-driven decision-making becomes paramount for stakeholders navigating the dynamic realms of decentralised technologies.
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