Web3 Investment Research Weekly|The crypto market ushered in a large decline, the spot trading volume of CEX in March was 2.48 trillion US dollars, and the total market value of W is currently over 14 billion US dollars

Quick Facts of the Week

This week, the crypto market as a whole showed a rapid decline after a small shock, and the overall range was large, and it has picked up near the end of the closing session. The overall market capitalization growth decreased from the same period last week, remaining at around $2.59 trillion, up 4.65% in 24 hours. Market sentiment has declined, remaining around 72. This week, most of the key mainstream currencies showed a downward trend for a week, and a few currencies kept rising for a week, but the magnitude basically remained in a small range. Overall, the crypto market has risen a little weakly this week, and the broader market is in a rapid adjustment cycle, and it is expected to usher in an overall recovery over the weekend.

Compared to last week, the total volume of the cryptocurrency market this week showed a downward trend, basically maintaining a small volatility until Tuesday, and then showing a rapid volatile downward trend. The rise and fall ratio of the top 100 cryptocurrency projects in a week is basically halved, on the one hand, the mainstream currencies have fallen significantly, and on the other hand, some new currencies have risen significantly at the beginning of their launch. The BTC price fell below $70,000 again in a week and is currently around $68,845, with a weekly gain of around -2.72%. ETH's decline this week is also obvious, with an overall increase of about -5.38%, and it is currently maintained at around $3,380.

The best performing coin in the market this week was CORE, with a 7-day increase of 107.89%, and the price of the coin is currently maintained around $2.47, ranking first for a weekly increase.

The overall market of the cryptocurrency market this week is mainly down, but the decline mainly occurs after the middle of the week, but there are still individual coins that show a contrarian rise, and the market as a whole is likely to usher in a wave of rebound during the weekend.

Crypto market

🔥 The crypto market ushered in a large round of rapid declines during the week, and it has now recovered.

🔥4.1 Days 4 Hours BTC -1.6%, ETH -2.4%, Top 500 Market Cap ≥ 30%: CORE +56%, TRUMP +41%, GFI +34%, MEW -37%; The price of WIF, PENDLE, Base TVL, Pendle TVL, the number of ETH holding addresses, and the spot gold price reached record highs.

🔥 This week's large token unlocks: $65.08 million in SUI, $14.51 million in GAL, $6 million in HFT, $5 million in ACA, $1.03 million in LQTY, and more.

🔥SLERF means that users who send more than 5 SOL during the pre-sale can choose to claim NFTs.

🔥Tether increased its position by 8,888 BTC again, and the total position exceeded 75,000 BTC.

🔥UniSat: Upgraded to v1.2.10 to support 5-byte BRC20.

🔥Block 837090 miners on the BTC network were rewarded with a total of 8.595 BTC.

🔥The founder of Ordinals released the Creation Rune, which continued to be minted for about four years after being halved.

🔥The CEO of Polygon said that L3 will deprive Ethereum of its value and will not develop L3.

🔥Channel owners with more than 1,000 subscribers on Telegram will receive 50% of their channel's ad revenue, and withdrawals will be available on Fragment in a few weeks.

🔥 The founders announced that the next version of dYdX will be built on top of L4.

🔥gm.ai Foundation proposes tokenomics, and the mainnet is expected to launch in the third week of April.

🔥4.2 days 24 hours BTC -4.5%, ETH -5.2%, top 500 market capitalization ≥ 30%: GHST +52%, XVG +39%; GHST price, PUFF price, JTO price, Fren Pet price, and DEX trading volume hit a record high in March;

🔥The BTC spot ETF had a net outflow of $88 million on April 1, a net inflow of about $40 million on April 2, and a net inflow of $114 million on April 3.

🔥Zeus Network will conduct a TGE and token airdrop on April 4th.

🔥V God posted a note on the simplification of the Ethereum protocol and the reduction of node resource load, and said that L3 will not magically further increase throughput.

🔥Blast has launched a point bonus event, which can be used to increase points with specific DApps.

🔥Ethena has opened airdrop token claims, while including Milady Maker holders in the airdrop, and will start the second season of Sats on April 2.

🔥CEX spot trading volume in March was $2.48 trillion, close to November '21 levels.

🔥Memeland: Memenet blockchain will be launched, with MEME as Gas.

🔥Robinhood will go live on OP.

🔥4.03 24h BTC +0.3%, ETH -0.2%, Top 500 Market Cap ≥ 30%: ENA +45%; The price of BGB, the issuance of TRC20-USDT, the income of BTC miners in March, and the number of Ethereum L2 users hit a record high.

🔥 This week, more than 20 projects or institutions announced (proposed) to complete a total of more than $3.1 billion in financing.

🔥ENA has a float market capitalization of $1.25 billion and a total market capitalization of $12.18 billion.

🔥Ethena has sparked widespread discussion and controversy in the industry.

🔥The TON Meme project Notcoin will release the token NOT on April 20.

🔥 Ethereum's proposed reduction in issuance has sparked fierce criticism from the crypto community.

🔥Uniswap announced the integration of the Blast network, and v2 LPs can earn native yields.

🔥OpenSea supports the use of ERC721-C to set up and execute creator earnings.

🔥BCH has completed the halving of the block reward.

🔥4.4 DAY 24 HOURS BTC +1.0%, ETH +1.0%, TOP 500 MARKET CAP≥ 30%:P ANDORA +36%, TRIBE +60%, XVG -31%; ENA prices, JTO prices, PUFF prices hit record highs.

🔥Degen: The browser add-on IDriss has supported DEGEN to reward X users.

🔥Slerf has completed the second round of refunds for 2200 SOL.

🔥Rarible already supports the use of MFER to pay for Base Chain NFTs.

🔥Bobaoppa has undergone a token burn.

🔥 CRYPTO ARTIST XCOPY RETWEETS RECOMMEND FLIES.

🔥CONDOM pre-sale raises nearly 5,000 SOL post-Rug.

Regulatory Policies

🔥 The city of Lugano, Switzerland, allows residents and tourists to trade with cryptocurrencies on a daily basis.

🔥 The Federal Reserve's Daly and Mester are expected to cut interest rates three times this year.

🔥 U.S. 5-year, 10-year and 30-year Treasury yields hit year-to-date highs.

🔥Cardano: Several U.S. states are interested in developing a Cardano-based ticketing system.

🔥 The Bank for International Settlements and seven central banks will test tokenization to improve cross-border payments.

Crypto Market Highlights

⭐️ In the past week, the overall market of the cryptocurrency market has ushered in a clear downward trend, and the overall situation is in a rapid shock adjustment cycle, and most cryptocurrencies have entered a downward range as a whole in the closing stage near the end of the week, but there is already a warming trend. As the BTC halving is approaching, coupled with the large net inflow of ETFs for several consecutive days, there is a high probability that the overall recovery will be ushered in again in the following period.

⭐️ Although the market is lower this week, there are still some mainstream currencies that have performed well, among which CORE has a relatively good upward trend due to the dynamics of the project itself and the attention of the Layer2 track in the market, and the price has exceeded $4 in a short period of time, with a weekly increase of 107.89%, and the current price remains at about $2.45. The price of the week is around $4.1, and the location is around $1.18 in the opening session.

(Source: Coinmarketcap)

Bitcoin & Ether weekly performance

Bitcoin (BTC)

(Source: TradingView)

During the week, the price trend of BTC basically continued to fluctuate slightly after the opening, and then entered a market dominated by rapid shocks and downwards, and the price trend appeared more obvious. Entering the closing session near the end of the week, there is a more obvious recovery trend, which is currently maintained near $69,000 and continues to fluctuate, with a one-week low near $64,500 and a high of around $71,400.

According to the analysis, the price performance of BTC this week was greatly affected by the overall trading fluctuations of the market. However, at present, it seems that this round of price changes is more affected by the market sell-off, although the overall trend of the currency will basically be dominated by the above behavior, but close to the BTC halving time, I am afraid that there will be a similar downward market before this, but it should still show short-term fluctuations. At present, the trend of the currency has recovered, and it is expected to return to above $70,000 at the end of the week.

Ether (ETH)

(Source: TradingView)

ETH's price trend during the week has maintained a strong correlation with BTC, although ETH's recent price performance has been relatively weak, and this round of downward trend has seen the coin appear earlier, with a one-week low of $3,200 in a short period of time, a large decline. During the week, the price reached a high near $3,640 and a low of $3,209.

According to the analysis, the performance of ETH currency price in this week continued to show a state of following the market trend, and the overall decline was greater than that of BTC, which is related to the public opinion caused by the dynamic information of Ethereum in a week, but it is more due to the lack of greater support of ETH itself in the current market cycle. Towards the end of the week, the recovery trend of the currency is not obvious, and I am afraid that the weekly high will remain above $3,600, and the probability of further higher is low.

Web3 Project Trends

This week, most of the total market value of the nine types of projects showed a downward trend, due to the impact of market cycle fluctuations, each track is basically dominated by the downward market, except for Solana-MEME continued to rise in the market, the other tracks are basically performing poorly, and it will take some time for the market to recover as a whole.

Author: Charles T. *This article represents the views of the author only and does not constitute any trading advice. *The content of this article is original, the copyright is owned by Gate.io, if you need to reprint, please indicate the author and source, otherwise you will be held legally responsible.