November 7, 2022
Weekly Crypto Market Insights – 7th November 2022
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And we're back with our weekly crypto market insights. Weekly Crypto Market Insights 2nd edition is here!
What a week it’s been!
From the many announcements at Solana Breakpoint to Twitter’s New Pricing and Layoffs, Instagram’s NFT functionality launch, Ethereum’s updated roadmap, FTX / Alameda leaked balanced sheet data, JP Morgan’s first DeFi trade.. to many other news that moved the markets!
Below we present a recap of the key market metrics, top gainers & losers, followed by crypto market news.
Key Market Metrics
Global Crypto Market Cap is at $1.08 trillion, a +1.64% change week over week. The total value locked in DeFi is at $55.13 Billion, a small decline of -0.11% WoW.
Binance’s trading volumes are up by +15.42%, FTX’s down by -10.51%, in the light of a recent CoinDesk article regarding leaked FTX / Alameda balance sheet data.
BTC trading at $20,924 up by +2.15% WoW, dominance at 40.68%, down by -1.04% , ETH trading at $1,586, dominance at 19.70%, up by +1.63%.
Top Gainers & Losers
Top gainers in price were AR +38.75%, OKB +36.61%, MATIC +32.92%, LTC +29.74%, and LRC +21.51%.
Top losers were KLAY BY -18.95%, FTT by -13.13%, ETHW by -8.18%, EGLD -8.14%, and APT by -7.56%.
Recap of the Most Noteworthy News of Past Week
- 3 Main Things to Look Out for This Week
- Last Week’s News Recap
- Instagram launches NFT minting
- Key Announcements During Solana Breakpoint
- Vitalik Shares Updated Ethereum Roadmap
- Binance to Sell its FTX Holdings
- Dogecoin Rally Down due to Elon Musk’s Twitter Layoffs Amidst Uncertainty About Crypto Wallet’s Future
- OpenSea’s New Tool to Aid With On-chain NFT Royalties Enforcement
- Solana’s Pre-Production Phone to Ship by December to Developers
- Inflation in the U.S. and Tax Breaks
- Google to Become Solana’s Validator
- The Latest in Crypto Hiring – Layoffs and New Hires
- Terra Founder Do Kwon Leaves to Undisclosed Location in Europe, South Korea Cancels His Passport
- Hong Kong Plans to Lift Retail Trading Ban
- JP Morgan’s First DeFi Trade
- Goldman Teams Works on Creating a New Digital Asset Classification System – CoinDesk
- Elon’s Twitter’s Mass Layoffs Start Off a Class-Action Lawsuit
- The U.S. IRS is Preparing Hundreds of Crypto Cases for the Upcoming Tax Season
We hope you found these weekly crypto market insights helpful preparing for the week ahead.
Weekly Crypto Market Insights Gravity Team 07-11
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