Weekly Digest - January 9, 2023

Happy New Year!

In this digest, we screen the crypto satellite successful the past 2 weeks of Christmas holidays.

Market indices and prices:

• Fear and greed index is 25 today, which indicates Extreme Fear. The mean for the past week was 26.4.
• Crypto Volatility Index (CVI) opened contiguous astatine 50.9. The CVI continued to diminution from its highest of 125 successful the aftermath of FTX collapse. The existent level is substantially beneath the mean for 2022 (78.1) and beneath the lowest 2022 CVI 0f 57.6.
• Total marketplace capitalization is $851.5 cardinal astatine property time. Total marketplace headdress accrued steadily passim the week from $798.0 connected January 1.
• The bitcoin dominance is presently 39.60%, a alteration of 0.45% from 40.05% connected January 1.

BTC terms arsenic of contiguous (11:00am UTC) was $17,248, which is 2.0% higher than the 7-day VWMA (volume weighted moving average) of $16,926. BTC terms accrued by 4.4% from its lowest level of $16,521 connected January 1. On January 3, MACD indicated a bullish inclination arsenic BTC crossed the awesome enactment astatine $16,957.

ETH terms arsenic of contiguous (11:00am UTC) was $1,321.8 which is 4.8% higher than the 7-day VWMA (volume weighted moving average) of $1,267.8. The ETH terms followed the BTC upward trend, expanding by 10.4% from January 1 terms of $1,196.7.

The champion performing altcoins successful the past 7 days were:

• LDO (Lido DAO) terms accrued by 52.1% successful the past 7 days. LDO is simply a autochthonal inferior token of decentralized autonomous enactment (DAO) LIDO, which offers a liquid staking work for Ethereum 2.0 and different impervious of involvement (POS) blockchains specified arsenic Solana (SOL), Polygon (MATIC), Polkadot (DOT), and Kusama (KSM). LDO was successful the carnivore marketplace territory successful November and December 2022 and the terms rally kicked disconnected connected January 1.
• SOL (Solana) gained 35.4%. Solana is 1 of the largest altcoins by marketplace cap. It is besides the basal currency for the Solana blockchain, which is known for debased commissions and precocious transaction speed. The SOL terms dropped by 94% successful 2022 and was valued astatine $9.98 connected the past time of 2022. The SOL terms summation was supported by the airdrop of the BONK meme coin, large NFT launches, not to notation supportive tweets from Vitalik Buterin.
• BitDAO (BitDAO) terms went up by 29.2%. BitDAO had been added to the HitBTC speech astatine the extremity of December, close earlier the terms rally! BitDAO is simply a corporate of builders, products, and mutually beneficial ecosystems governed by BitDAO token holders. BitDAO existent initiatives see Game7 (a gaming ecosystem), Mantle (a precocious show Ethereum layer-2 blockchain), EduDAO (Web3 acquisition project).

The apical 3 losers successful the past week were HT and TRX, arsenic good arsenic TONCOIN.

• HT and TRX prices declined by 8.4% and 3.9% respectively. The diminution was triggered by the Huobi’s speech announcement that it would chopped its headcount by 20% successful the upcoming days. HT is the autochthonal token of Huobi, and TRX is the basal currency of the TRON blockchain founded by Justin Sun, Huobi advisor, who mostly represents the speech publicly. Huobi besides experienced a important summation successful outflows amid rumors of its imaginable insolvency issues.
• TONCOIN has been successful the top-3 database of the champion performing altcoins successful December of the past year. In the past 7 days, the terms has declined by 5% which represents a insignificant correction compared to the 20% terms surge successful December 2022.

What other happened:

• FTX laminitis and erstwhile CEO Sam Bankman-Fried pleaded not guilty to each 8 counts of U.S. transgression charges. The proceedings is scheduled for October 2023.
• Hong Kong, which has agelong been 1 of the apical places for web3 development, wants to unafraid its ascendant presumption by issuing integer HK Dollar, labeled e-HKD. Hong Kong lawmakers are seeking approval from Beijing.
• Crypto speech Huobi experienced important summation successful outflows aft it announced a 20% headcount reduction. Investors started pulling their funds from  the exchange amid insolvency concerns. According to Nansen, a crypto quality firm, 81% of Huobi reserves are held successful the HT inferior token, which mislaid 8.4% successful worth successful the past 7 days. Huobi troubles affected the terms of TRX and USDD that tally connected the Tron blockchain since Justin Sun, Tron founder, is an advisor and large backer of the Huobi exchange.
• US regulators and ineligible authorities proceed their battle connected the crypto industry. Coinbase, a nationalist cryptocurrency exchange, received a $50 cardinal fine from the New York State for “significant” compliance failures, and Empire State’s Attorney General sued erstwhile Celsius CEO Alex Mashinsky for allegedly defrauding the CeFi exchange’s clients. And finally, the US Security and Exchanges Commission (SEC) is trying to artifact Binance acquisition of bankrupt crypto lender, Voyager Digital.

Swap diagnostic is present unrecorded connected HitBTC !

We person added a caller Swap feature, which allows you to speech tokens and coins instantly astatine marketplace prices without trading them connected the exchange. Swap is disposable for assets successful your wallet relationship and takes nary longer than 2-3 minutes. The swap diagnostic is casual to usage since you bash not request to transportation funds to a spot relationship and taxable bargain oregon merchantability orders. It tin besides beryllium precise adjuvant if the spot speech does not person capable liquidity to fulfill your order.

New listings connected HitBTC:

• BitDAO (BitDAO) is simply a governance token by the BitDAO enactment built connected the ERC-20 standard. BitDAO aims to physique halfway products that volition assistance the functionality and effectiveness of BitDAO and different DAOs. The halfway merchandise includes a acceptable of on-chain and off-chain governance solutions and products, with the DAO’s treasury absorption capable to deploy and show assets to gain yield.
• Town Start (TOWN) is simply a token that was created by Gala Games exclusively arsenic a reward for playing Town Star, a competitory farming game. Players apical the leaderboard with the accidental to triumph large prizes, and implicit challenges to cod Town Points. The extremity of the crippled is to grow, stitchery and trade your mode to gathering the astir businesslike and productive municipality imaginable. Uses of TOWN see in-game purchases, upgrades and benefits and, of course, trading, since TOWN has already been listed connected respective large exchanges.

Coming soon to HitBTC:

• OP (Optimism) is simply a basal currency of the Optimism layer-2 blockchain built connected apical of the Ethereum ecosystem. Optimism is 1 of the biggest scaling solutions for Ethereum with implicit $300 cardinal successful TVL (Total Value Locked). It is location to 35 protocols, with the largest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM. Optimism has been 1 of the apical performers successful the past week with a summation of 22.3%.
• XRD (Radix) is the autochthonal cryptocurrency of Radix, which is simply a furniture 1 astute declaration platform. The platform’s astute contracts run connected the Scrypto programming connection developed by the in-house team. To pull DeFi dApp developers, Radix rewards them with royalty fees each clip their codification is utilized successful the transaction. The creators besides assertion that the underlying blockchain has unlimited scalability.
• GMX (GMX) is simply a governance token of GMX, a decentralized perpetual futures speech that supports debased swap fees and zero terms interaction trades.
• VEMP (vEmpire DDAO) is the ERC-20 governance token of vEmpire DDAO, a Metaverse concern organization. vEmpire DDAO is the archetypal protocol to alteration Metaverse token staking successful speech for dual output interest, paying yields successful some $VEMP and the archetypal token staked.

If you person not done truthful yet, delight bash not hide to download our trading app connected Android and iOS. And remember: carnivore marketplace is the champion clip to commencement gathering your crypto portfolio! (And our latest nonfiction whitethorn assistance you with that!)

Cheers,

HitBTC team