Monday Market Report | April 17th - 23rd, 2023
📢 Weekly TL;DR
Every Monday morning, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, industry news and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.
📈 Weekly Moves
- The global cryptocurrency market has reached a total market capitalization of CAD $1.59 trillion.
- Bitcoin continues to lead the market with a dominance of 46.0%, followed by Ethereum at 19.2%.
- Bitcoin is currently the top trading pair on NDAX, followed Ethereum, USDC, XRP, Dogecoin, Fantom and Polygon.
- Over the past 7 days, the value of Bitcoin (BTC) has decreased by 5.91% and is currently being traded at $37,445. Ethereum (ETH) is down 9.57% during the same period and is now being traded at $2,519.
- Europe passed the world’s first comprehensive set of Digital Asset legislations: MiCA (Markets in Crypto Assets)
Meanwhile, certain American legislators are trying to revive last year’s postponed stablecoin bill, while others push back.
- While House Republicans believe that this legislative delay is causing America to lose its competitive edge and pushing capital and entrepreneurs offshore...
House Democrats (including the original sponsor of the bill) ostensibly seem to believe the industry deserves no formal recognition (or regulation, whatsoever).
And finally, in (somewhat) happier news, recent FTX and BlockFi bankruptcy filings have revealed that none other than the Kingdom of Bhutan’s Sovereign Wealth Fund has been aggressively stacking sats (and other crypto assets) for years...
- To the tune of millions. Huzzah!
- This begs the question: Who else has been secretly investing in crypto assets?
As of 04/24/2023 12:30 AM EST, values in CAD.
Keep an eye on the market here 👉 Cryptocurrency Prices
📰 Community News
In the cryptocurrency community, there's always something going on. Here are a few events and happenings that you might be interested in:
- McHenry clashes with SEC’s Gensler over crypto crackdown Politico
- EU Parliament approves crypto licensing, funds transfer rules CoinDesk
- Ether erases all gains from Shanghai rally as Bitcoin, other crypto prices also fall CoinDesk
- Bhutan’s sovereign investment arm quietly invests millions in crypto: Report CoinTelegraph
📅 Upcoming Events
Mark your calendars!
- Apr 28 - CME Expiry (Month)
- May 3 - FOMC Decision
- May 10 – CPI (April)
- May 17 - Bitcoin Builders Conference Miami
- May 18 - Bitcoin 2023 Conference Miami
📖 Educational Resources
Looking to learn more about cryptocurrency and blockchain? Here are a few resources that we recommend:
A guide to crypto analytics platforms attempting to build a coherent picture of crypto markets by sifting and sorting through reams of data. Unchained -- A Guide to the Big Crypto Analytics Platforms
A contentious hearing this week pitted House Republicans vs. SEC Chair Gary Gensler. Here’s what stood out to crypto lawyer Jason Gottlieb. –Unchained Podcast w/ Laura Shin ‘Is ETH a Security?’ Why Gary Gensler Couldn’t Give Congress a Straight Answer.
- The European Parliament has passed a landmark set of crypto rules.. – CoinDesk Opinion: Why the EU Has MiCA and the U.S. Has Securities Law Confusion
💫 Feature of the Month
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