Weekly Crypto Market Insights – 5th December
Here's what you need to know about crypto markets' recent & upcoming events!
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
Crypto exchanges leaderboard by 7 Day trading volume:
- Binance down by -4.20%
- Coinbase down by -8.04%
- Kraken down by -6.07%
- KuCoin up by +3.73%
- Bitfinex down by -9.95%
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
We are always open to discussing new ideas. Do reach out if you are an exchange or a project looking for liquidity; an algorithmic trader or a software developer looking to improve the markets with us or just have a great idea you can’t wait to share with us!