Weekly Crypto Market Insights – 5th December

Last week’s most important news recap included SBF breaking the silence in the press & media, Kraken laying off 30% of its staff, Bybit reducing its workforce, and BlockFi filing for bankruptcy.

This week, things to look out for are SBF’s continued media coverage, including a 2-hour appearance on the Scoop podcast on Monday and Twitter spaces on Tuesday and Wednesday; crypto layoffs on the way, including Bybit, Swyftx, and more.

The global crypto market grew by +3.01% WoW. Bitcoin is trading at $17,207, up by +6.29%, and ETH is up by +10.21% WoW, trading at $1,291. However, for most of the top 5 exchanges, trading volumes were down by -5-10%.

Key Market Metrics

Global Crypto Market Cap grew by +3.01% WoW, valued now at $902 Billion. The total value locked in DeFi is at $42.66 Billion, an increase of +2.11% WoW.

Crypto exchanges leaderboard by 7 Day trading volume:

1. Binance down by -4.20%
2. Coinbase down by -8.04%
3. Kraken down by -6.07%
4. KuCoin up by +3.73%
5. Bitfinex down by -9.95%

BTC trading at $17,207, dominance at 40.48%, up by +0.12% WoW, ETH trading at $1,291, dominance at 19.27%, down by -0.63%.

Top Gainers & Losers

Top gainers and losers in price, ranked by their total market cap, are mentioned below.

Top gainers in price this week were: FTM by +35.89%, GMX by +28.32%, ETHW by +24.87%, TWT by +22.91%, and IMX by +21.17%.
Top losers were: HNT by -4.39%, LEO by -4.30%, USDN by -3.66%, XCN by -2.95%, and CVX by -2.90%.

Recap of the Most Noteworthy News of the Past Week

• Here are the biggest stories in crypto to look out for this coming week – The Block
• Here are the three biggest crypto stories from the past week – The Block
• Kraken Lays Off Over 1,000 People as Crypto Winter Wears On – Blockworks
• Binance, Kraken, Accused of Violating US Sanctions, Back Anti-Fraud Startup – Blockworks
• Circle Yield Pauses New Loans After Repaying Customers – Blockworks
• Binance Seizes FTX Bankruptcy To Expand Into Japan – Again – Blockworks
• BlockFi Files for Bankruptcy as FTX Contagion Spreads – CoinDesk
• Centralized Crypto Exchanges Will Remain Dominant Despite FTX Collapse: JPMorgan – CoinDesk
• Three Arrows Capital Liquidators Seize $35.6M From Singaporean Banks – CoinDesk
• Sam Bankman-Fried ‘will testify’ before Congress – eventually – The Block
• Bybit reducing workforce as bear market deepens – The Block
• Avalanche DEX Trader Joe is deploying on Arbitrum – The Block
• 2-hour sit-down with Sam Bankman-Fried on the FTX scandal – The Block

Weekly-Crypto-Market-Insights-Gravity-Team-05-12.