Chart of the Week
EigenLayer, a new staking protocol that allows Ethereum stakers to restake their ETH to secure other projects, was launched on the Ethereum mainnet last week. The protocol has been gaining traction, with liquid restaking reaching the maximum limits. Meanwhile, native restaking (via EigenPods — a smart contract that facilitates staking of the Beacon Chain layer) currently is at close to 1,600 ETH. Read more about EigenLayer and also the liquid staking landscape in our report, Liquid Staking Derivatives: Money Legos in DeFi.
Weekly Performance
Bitcoin (BTC) was up +2.1% while Ethereum (ETH) fell -1.0% in the past seven days. Other selected top-cap tokens mostly rose slightly.
Key categories were mostly up slightly in the past seven days.
News Highlights
- BlackRock, the world’s largest asset manager, filed paperwork last week with the US Securities and Exchange Commission (SEC) for the formation of a spot bitcoin exchange traded fund (ETF).
- Ethscriptions, a new protocol that allows users to create and share digital objects on Ethereum, was launched. It makes use of Ethereum’s “calldata,” which refers to the data provided within a call made to a smart contract. The protocol was inspired by Bitcoin’s Ordinals Inscriptions.
- The US Federal Reserve kept interest rates unchanged last week, after a run of 10 consecutive increases since March 2022.
- Stablecoin Tether (USDT) de-pegged last week but has since recovered. It was attributed to mass selling of USDT within DeFi protocols, which Tether CTO Paolo Ardoino also labeled as an attack.
Recent Research Reports
 |  |  |
| Research Roundup Newsletter [May 2023]: In our latest issue of Research Roundup, we feature trending market insights in May, charts of the month, and our latest research reports exploring memes — what makes them successful, their role in crypto and Web3, and the resurgence of meme mania. | The Evolution of Memes and What Makes Them Successful: What are memes, how have they evolved, and what makes them successful? We also explore the role they play in crypto and Web3, and what the future holds for memes | Alpha Navigator: Quest for Alpha [May 2023]: Asset classes mostly dipped in May and crypto remains the best performer YTD. US debt ceiling dispute defused. Interest rate decisions from multiple central banks in the coming month. |
| |
| |
| |
| Research Roundup Newsletter [May 2023]: In our latest issue of Research Roundup, we feature trending market insights in May, charts of the month, and our latest research reports exploring memes — what makes them successful, their role in crypto and Web3, and the resurgence of meme mania. | |
| The Evolution of Memes and What Makes Them Successful: What are memes, how have they evolved, and what makes them successful? We also explore the role they play in crypto and Web3, and what the future holds for memes | |
| Alpha Navigator: Quest for Alpha [May 2023]: Asset classes mostly dipped in May and crypto remains the best performer YTD. US debt ceiling dispute defused. Interest rate decisions from multiple central banks in the coming month. |
Recent University Articles
 |  |  |
| What Is Cryptocurrency?: Still wondering what cryptocurrency actually is, how it works, and how to use it? We’ve got the answers in this crypto beginner’s guide. | A Short History of Bitcoin Price: The price of BTC has experienced peaks and valleys ever since it launched in 2009. Learn all about Bitcoin’s price history. | How to Buy Bitcoin and Other Cryptocurrencies: Wondering how to buy your first Bitcoin? Or cryptocurrency in general? Here’s a step-by-step guide on crypto buying for beginners. |
| |
| |
| |
| What Is Cryptocurrency?: Still wondering what cryptocurrency actually is, how it works, and how to use it? We’ve got the answers in this crypto beginner’s guide. | |
| A Short History of Bitcoin Price: The price of BTC has experienced peaks and valleys ever since it launched in 2009. Learn all about Bitcoin’s price history. | |
| How to Buy Bitcoin and Other Cryptocurrencies: Wondering how to buy your first Bitcoin? Or cryptocurrency in general? Here’s a step-by-step guide on crypto buying for beginners. |
Catalyst Calendar
Author
Research and Insights Team
Disclaimer:
The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.
The brands and the logos appearing in this report are registered trademarks of their respective owners.
