This evaluation report, backed by high quality information, covers the main developments the Web3, Blockchain, and Crypto panorama has witnessed this week.
1. Breaking Information This Week
- Uniswap v4 Improves Effectivity
Uniswap v4 introduces optimizations put up Etheruem’s Dencun improve, enhancing fuel charge effectivity and dynamic changes. These enhancements intention to decrease consumer charges and develop use circumstances, promising a less expensive and versatile decentralized change expertise.
- TRON Enhances Bitcoin’s Performance
TRON plans to combine tokens with Bitcoin, bettering scalability and velocity by way of layer 2 options. This integration goals for seamless interplay between TRON and Bitcoin networks, bolstering interoperability and increasing Bitcoin’s utility in decentralized ecosystems.
- U.S. Treasury Corrects Terrorism Studies
U.S. Treasury acknowledges inaccuracies in terrorism funding reviews involving cryptocurrency donations. Figures had been inflated, with precise quantities possible a lot smaller. This correction clarifies the extent of cryptocurrency involvement in terrorist financing, highlighting the necessity for correct reporting and oversight.
- Uniswap Founder Warns In opposition to Scams
Uniswap founder alerts group to scams using misleading Ethereum Identify Service domains. Scammers exploit faux domains resembling professional addresses, posing dangers to unsuspecting customers. Hayden Adams’ warning emphasises vigilance towards fraudulent schemes concentrating on cryptocurrency customers by way of subtle means.
- SEC Chairman Faces Bitcoin Criticism
SEC Chairman Gary Gensler faces criticism for detrimental Bitcoin views, challenged by CNBC anchor defending Bitcoin’s integrity and potential. Amidst debates over crypto regulation, this change displays divergent views on Bitcoin’s function and legitimacy in monetary markets and regulatory frameworks.
- Founders Fund Reinvests in Crypto
Founders Fund, led by Peter Thiel, reinvests in Bitcoin and Ether, signalling renewed curiosity in crypto property. This transfer follows a big divestment, highlighting Silicon Valley’s evolving stance on cryptocurrencies and their potential as long-term funding automobiles amid market fluctuations.
- ARK Founder Skeptical of SEC’s ETF Stance
ARK founder Cathie Wooden expresses doubts about SEC’s willingness to approve spot ETFs past Bitcoin and Ethereum. Wooden’s skepticism contrasts with latest ETF submissions, indicating uncertainties surrounding regulatory acceptance of various cryptocurrency choices in conventional monetary markets.
- Coinbase Criticises Fiat in Advert
Coinbase’s commercial critiques fiat currencies, reflecting ongoing international foreign money debates and geopolitical tensions. The advert portrays fiat as more and more out of date, contrasting with cryptocurrencies’ perceived utility and resilience. This messaging underscores Coinbase’s dedication to fostering crypto adoption.
- South Korea’s Strengthens Crypto Laws
South Korea implements stricter rules to guard crypto buyers from market abuses and prison actions. Greater fines and harsher punishments intention to discourage unlawful actions, making certain a safer surroundings for cryptocurrency buying and selling and funding in SK’s digital asset panorama.
- Chinese language Miners Flocks to Ethiopia
Chinese language Bitcoin miners search beneficial situations in Ethiopia, attracted by low cost power and strategic areas close to hydroelectric initiatives. This inflow highlights Ethiopia’s rising function as a mining hub and its potential to reshape international Bitcoin mining dynamics amidst evolving regulatory panorama in China.
2. Blockchain Efficiency
On this part, we’ll analyse two components primarily: the top-performing blockchains based mostly solely on their 7-day change and the highest performers among the many high 5 blockchains with the best TVL.
2.1. Prime Blockchain Performers by 7-Day Change
This week’s high blockchain performers, based mostly on their 7-day change, are ZetaChain, Sei Community, Hedera Hashgraph, Ronin, and Aptos.
| Blockchain | 7-Day Change (in %) | TVL |
| ZetaChain | 347.9% | $2,860,885 |
| Sei Community | 90.3% | $20,470,006 |
| Hedera Hashgraph | 31.0% | $99,233,862 |
| Ronin | 26.1% | $201,022,943 |
| Aptos | 21.5% | $214,235,703 |
Among the many high blockchain performers by 7-day change index, ZetaChain leads with a exceptional improve of 347.9%. Following intently is Sei Community with a development of 90.3%. Hedera Hashgraph, Ronin, and Aptos additionally present optimistic momentum with will increase of 31.0%, 26.1%, and 21.5%. These vital rises point out string efficiency and potential curiosity in these blockchain platforms over the previous week.
2.2. Prime Performers: 7-Day Change in Prime 5 Blockchains with Highest TVL
Ethereum, BNB Sensible Chain, Arbitrum One, Solana, and Polygon Pos are the highest 5 blockchains out there on the premise of TVL and market dominance. Let’s see how these blockchains have carried out this week.
| Blockchain | 7d Change | TVL (in Billion) | Dominance |
| Ethereum | 16.9% | $45,969,015,424 | 74.57% |
| BNB Sensible Chain | 6.5% | $4,211,593,281 | 6.83% |
| Arbitrum One | 12.9% | $3,407,476,479 | 5.53% |
| Solana | 8.8% | $2,072,244,185 | 3.36% |
| Polygon Pos | 10.4% | $1,004,629,054 | 1.63% |
| Others | 8.08% |
Among the many high blockchains with the best Whole Worth Locked (TVL), Ethereum reveals a considerable 7-day change of 16.9%, indicating a powerful upward development. Following Ethereum is Arbitrum One with a notable improve of 12.9%. Moreover, Polygoin POS, Solana, and BNB Sensible Chain exhibit optimistic development with adjustments of 10.4%, 8.8%, and 6.5% respectively, showcasing promising developments in TVL.
3. Crypto Market Evaluation
The crypto worth and dominance evaluation and high positive aspects and losers evaluation are the 2 prime components of the crypto market evaluation.
3.1. Crypto 7-D Worth Change and Dominance Evaluation
Bitcoin, Ethereum, Tether, BNB, and Solana are the highest cryptocurrency as per the market cap index. Let’s analyse their seven-day worth change and dominance indices.
| Cryptocurrency | Dominance Share | Worth | Market Cap | 7d- Change |
| Bitcoin | 49.79% | $52,005.66 | $1,020,424,434,240 | 9.7% |
| Ethereum | 16.67% | $2,793.37 | $$335,714,345,950 | 11.3% |
| Tether | 4.74% | $1.00 | $97,635,793,898 | 0.0% |
| BNB | 2.69% | $359.43% | $55,451,802,000 | 11.0% |
| Solana | 2.43% | $109.29 | $48,398,191,278 | 0.3% |
| Others | 23.68% |
Analysing the highest cryptocurrencies by market capitalisation, Ethereum displays the best 7-day worth change of 11.3%, intently adopted by BNB with 11.0%. Bitcoin additionally reveals a big improve of 9.7% in its worth. Regardless of minor fluctuations, Solana and Tether stay comparatively steady with 0.3% and 0.0% adjustments respectively.
3.2. Prime Gainers & Losers of the Week in Crypto Market
Right here is the listing of high gainers and high 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. Prime Gainers of the Week in Crypto
| Cryptocurrency | Worth | 7-Day Acquire |
| Bitget Token | $1.12 | +69.87% |
| VeChain | $0.0472 | +57.09% |
| Siacoin | $0.01321 | +50.56% |
| Stacks | $2.63 | +47.55% |
| Arweave | $12.07 | +37.29% |
Bitget Token, with 69.87% acquire, is the best performer of the week within the cryptocurrency market. VeChain is the second high gainer, with 57.09%. Siacoin, Stacks and Arweave comply with intently, with 50.56%, 47.55% and 37.29%, respectively. Among the many gainers, Arweave and Stacks are the most costly cryptocurrencies, valued at $12.07 and $2.63, respectively.
3.2.2. Prime Losers of the Week in Crypto
| Cryptocurrency | Worth | 7-Day Loss |
| Astar | $0.168 | -10.98% |
| Pendle | $3.00 | -9.68% |
| Celestia | $18.81 | -6.08% |
| Osmosis | $1.61 | -4.76% |
| Injective | $34.20 | -3.77% |
Astar, with -10.98% loss, is the largest loser of the week within the crypto market. Pendle is the second greatest loser with -9.68%. Celestia, Osmosis, and Injective intently comply with with -6.09%, -4.76%, and -3.77%. Among the many losers, Injective and Celestia are the most costly cryptos, valued at $34.20 and $18.81, respectively.
3.3. Stablecoin Weekly Evaluation
Tether, USDC, DAI, First Digital USD, and TrueUSD are the highest stablecoins out there by way of market capitalization. Let’s analyse their weekly efficiency utilizing seven-day market capitalisation, market dominance and buying and selling quantity indices.
| Stablecoins | Market Capitalisation | Market Capitalisation (7d) | Market Dominance (7d) [in %] | Buying and selling Quantity (7d) |
| Tether | $97,591,472,104 | $97,583,119,423 | 71.63% | $43,362,560,753 |
| USDC | $28,089,411,274 | $28,101,396,699 | 20.71% | $6,501,939,247 |
| Dai | $4,886,092,389 | $4,898,709,649 | 3.61% | $234,342,787 |
| First Digital USD | $2,842,504,257 | $2,850,901,549 | 2.09% | $5,643,199,318 |
| TrueUSD | $1,258,226,299 | $1,261,481,876 | 0.93% | $75,159,074 |
| Others | 1.03% |
Within the stablecoin market over the previous week, Tether maintains dominance with a 7-day market capitalisation of $97.58 billion, 7-day market dominance of 71.63%, and a considerable 7-day buying and selling quantity of $43.36 billion. USDC follows with a $28.10 billion 7-day market cap and a 7-day buying and selling quantity of $6.50 billion. Notably, First Digital USD shows a formidable 7-day buying and selling quantity of $5.64. Nonetheless, different stablecoins like Dai, and TrueUSD present comparatively decrease buying and selling volumes.
4. Bitcoin ETF Weekly Evaluation
Bitcoin Futures ETFs and Bitcoin Spot ETFs must be analysed individually, with a view to get the best image of the Bitcoin ETF market, as they signify two totally different segments. 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 Beneath Administration index. Let’s use the change proportion index to analyse these ETFs.
| Bitcoin Futures ETFs | Asset Beneath Administration (in Billion) | Worth | Change (Acquire) |
| ProShares | $598.78M | $24.61 | +0.20% |
| VanEck | $42.41M | $39.22 | +0.33% |
| Valkyrie | $38.20M | $16.27 | -0.91% |
| International X | $26.10M | $62.46 | +0.61% |
| Ark/21 Shares | $80.1M | $51.14 | +0.15% |
Analysing Bitcoin Futures ETFs’ weekly efficiency, International X reveals the best acquire at 0.61%, adopted by VanEck with a acquire of 0.33%. ProShares and Ark/21 Shares additionally exhibit optimistic positive aspects of 0.20% and 0.15% respectively. Nonetheless, Valkyrie skilled a slight decline of -0.91%.
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 Beneath Administration index. Let’s analyse them utilizing the change index.
| Bitcoin Spot ETFs | Asset Beneath Administration (in Billion) | Worth | Change (Acquire) |
| Grayscale | $23.76B | $46.28 | +0.22% |
| BlackRock | $5.68B | $29.62 | +0.34% |
| Constancy | $4.25B | $45.43 | +0.24% |
| Ark/21 Shares | $1.29B | $51.97 | +0.25% |
| Bitwise | $1.03B | $28.34 | +0.39% |
Analysing Bitcoin Spot ETFs’ weekly efficiency, Bitwise leads with a acquire of 0.39%, adopted intently by BlackRock with a acquire of 0.34%. Ark/21 Shares and Constancy additionally present optimistic positive aspects of 0.25% and 0.24% respectively. Grayscale skilled a acquire of 0.22%. These positive aspects recommend total optimistic motion within the Bitcoin Sport market, reflecting investor confidence.
5. DeFi Market Weekly Standing Evaluation
Lido, Maker, AAVE, EigenLayer and JustLend are the 5 high DeFi protocols obtainable. Let’s analyse its weekly efficiency utilizing the 7d Change index.
| DeFi Protocols | TVL | 7d Change (in Whole Worth Locked) [in %] |
| Lido | $27.394b | +13.03% |
| Maker | $8.344b | +2.45% |
| AAVE | $8.265b | +10.41% |
| EigenLayer | $7.1b | +16.88% |
| JustLend | $6.59b | -0.04% |
Analysing the weekly efficiency of high DeFi protocols by Whole Worth Locked, EigenLayer demonstrates the best improve in TVL with a exceptional 16.88%. Lido follows intently with a 13.03% improve, whereas AAVE reveals a stable development of 10.41%. Maker experiences a modest rise of two.45%. Nonetheless, JustLend data a slight lower of -0.04% in TVL.
6. NFT Market: A Primary Weekly Evaluation
Blur, Blur Aggregator, Opensea, Gem and Cryptopunks are the highest NFT marketplaces on the premise of market share. 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 | 54.19% | 30545.90 | 46676 | +9.86% |
| Blur Aggregator | 27.57% | 15001.69 | 26195 | +5.09% |
| Opensea | 11.78% | 10938.69 | 38109 | +2.86% |
| Gem | 2.46% | 1664.03 | 6946 | +24.64% |
| Cryptopunks | 1.82% | 1457.97 | 22 | -12.76% |
| Others | 2.18% |
Analysing the weekly efficiency of high NFT marketplaces by market share, Gem displays the best quantity change with a formidable improve of 24.64%. Blur, regardless of its dominant market share of 54.19%, reveals a quantity change of 9.86%. Blur Aggregator and Opensea additionally show optimistic quantity adjustments of 5.09% and a couple of.86% respectively. Nonetheless, Cryptopunks experiences a notable lower in quantity change at -12.76%.
6.1. Prime NFT Collectible Gross sales this Week
Glad Hoppers Membership Poster #09281, Wrapped Ether Rock #46, CryptoPunks #3167, BOOGLE #058, and Autoglyphs #346 are the highest NFT collectable gross sales reported this week within the NFT market panorama.
| NFT Collectibles | Worth (in USD) |
| Glad Hoppers Membership Poster #09281 | $863,409.96 |
| Wrapped Ether Rock #46 | $496,658.44 |
| CryptoPunks #3167 | $449,869.88 |
| BOOGLE #058 | $325,767.95 |
| Autoglyphs #346 | $263,315.16 |
The week’s high NFT collectible gross sales showcase notable transactions within the digital artwork market. The Glad Hoppers Membership Poster #09281 fetched $863,409.96, adopted by Wrapped Ether Rock #46 at $496,658.44. CryptoPunks #3167 offered for $449,869.88, whereas BOOGLE #058 and Autoglyphs #346 had been additionally offered at vital costs of $325,767.95 and $263,315.16 respectively, highlighting the rising worth and curiosity in digital collectibles.
7. Web3 Weekly Funding Evaluation
7.1. ICO Panorama: A Weekly Overview
Lynex, Ta-da, MeMusic, and Meson.Community are the main ICOs that ended this week. All of them achieved their fundraising goal.
| ICO | Token Worth | Obtained | Fundraising Aim | Whole Tokens | Token (Obtainable for Sale) |
| Lynex | $0.06 | $450,000 | $600,000 | 100,000,000 | 25% |
| Ta-da | $0.022 | $4,550,000 | $1,100,000 | 1,000,000,000 | 27.57% |
| MeMusic | $0.02 | $4,070,000 | $300,000 | 1,000,000,000 | 25.75% |
| Meson.Community | $1.75 | $12,250,000 | $8,750,000 | 100,000,000 | 31% |
This week’s ICO funding reveals various initiatives in search of help within the blockchain house.
Lynex, a decentralised change and liquidity market on the Linea blockchain, aimed to boost $600,000 with a token worth of $0.06, providing 25% of its complete tokens on the market. Ta-da, a platform facilitating interactions between AI corporations and customers, aimed for $1,100,000 in funding with a token worth of $0.022, providing 27.57% of its complete tokens. MeMusic, offering an inclusive ecosystem by way of blockchain providers, sought $300,000, providing 25.75% of its tokens at $0.02 every. Meson Community, revolutionising Web3 with a streamlined bandwidth market, focused $8,750,000 in funding at a token worth of $1.75, providing 31% of its complete tokens on the market.
8. Weekly Blockchain Hack Evaluation
As of February 17, 2024, the full amount of cash stolen by way of hacking is $7.65 billion. Inside this, $5.79 billion was taken from decentralised finance (DeFi) platforms, and $2.83 billion kind bridges connecting totally different blockchain networks.
On January 30, 2024, Abracadabra encountered a hack leading to a $6.5 million loss. Earlier, on January 22 and January 16, 2024, Concentric and Bungee additionally fell sufferer to related hacks, shedding $1.72 million and $3.3 million, respectively. Previous to that, on January 12 and January 4, 2024, Sensible Lending and Gamma skilled hacks leading to losses of $0.46 million and $4.5 million, respectively.
Endnote
On this week’s complete evaluation of Web3, Blockchain and Crypto, we’ve got 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.
