Weekly Crypto Report: Hacks, Market Trends, and the Latest in Blockchain and Web3

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Welcome to your go-to source for all things Web3, Blockchain and Crypto! Our Weekly report dives into the freshest updates and game-changing developments in the fast-paced world. We curate the best data from trusted sources to keep you ahead of the curve. Ready to stay informed and inspired? Lets explore the latest trends and insights together! 

1. Web3, Blockchain & Crypto Breaking News This Week

Here are this weeks major breaking news reports related to Web3, Blockchain, and crypto that you should never miss. 

• Japanese Crypto Exchange DMM Bitcoin Hacked, Loses $305 Million 

DMM Bitcoin Suffered a hack, losing 4,502.9 bitcoins worth $305 million. The exchange investigates and implements measures to prevent future attacks.

• Riot Platforms Seeks to Acquire Bitfarms Ltd.

Riot Platforms aims to acquire Bitfarms, owning 9.25% and planning a public takeover offer despite Bitfarms board rejection.

• Ramp Expands Crypto-to-Fiat Services Across Europe 

Ramp now supports SEPA money transfers and over 35 local currencies, enabling seamless crypto cash-outs directly to credit and debit cards across Europe.

• ENS Labs Proposes Expansion to Layer-2 Protocols 

ENS Labs suggests expanding Ethereum Name Service to layer-2 scaling, making .eth names cheaper and more accessible, through no specific layer-2 network is chosen yet.

• Former FTX Co-CEO Ryan Salame Sentenced to Prison 

Ryan Salame received a 90-month prison sentence for illegal political contributions and unlicensed money-transmitting business conspiracies.

• ASI Alliance Finalise Merger, Launches New Token 

Fetch.ai, SingularityNET, and Ocean Protocol merge to form the Artificial Superintelligence Alliance, launching the ASI token, enhancing AI network scalability.

• Argentina and El Salvador Discuss Bitcoin Adoption 

Argentinian and Salvadoran officials met to discuss enhancing Bitcoin adoption and leveraging EI Salvadors experience with digital assets.

• Donald Trump Opposes Central Bank Digital Currency 

Trump vows to block the creation of a central bank digital currency in the US if re-elected, making cryptocurrency a key election issue.

• Caitlyn Jenner Promotes $JENNER Meme Coin. 

Caitlyn Jenner promotes $JENNER, a meme coin on the Solana-based DEX pump. fun, reaching a market cap of over $24 million despite community scepticism.

• Worldcoin Project Halted by Hong Kong Privacy Regulator 

Hong Kongs PCPD ordered Worldcoin to stop operations due to excessive biometric data collection, violating local privacy laws.     

2. Blockchain Weekly Analysis 

The blockchain weekly analysis primarily covers the blockchain dominance analysis and the blockchain 7-day change analysis. In order to bring more clarity, the Layer 1 chains and Layer 2 chains are analysed separately. 

2.1. Blockchain Dominance Analysis 

Ethereum, TRON, BNB Smart Chain, Solana, and Arbitrum One are the top five blockchains as per dominance and TVL.  

Among the top five blockchains, Ethereum dominates with 64.85%. TRON and BNB Smart Chain follow with 8.21% and 5.25%, respectively. Solana and Arbitrum One mark 4.76% and 3.08% dominance, respectively.

2.1.1. Top Five Layer 1 Chains By Dominance  

Ethereum, BNB Smart Chain, Solana, Bitcoin and Avalanche are the top five Layer 1 Blockchain by dominance and TVL. 

Among the top five-layer 1 chains, Ethereum dominates with 81.35%. BNB Smart Chain and Solana follow with 6.58% and 5.97%, respectively. Bitcoin records 1.42% dominance, and Avalanche reports 1.14% dominance. 

2.1.2. Top Five Layer 2 Chains By Dominance 

Arbitrum One, Blast, Base, Polygon POS, and Optimism are the top five Layer 2 Blockchains on the basis of dominance and Total Value Locked. 

Among the top five-layer 2 chains, Arbitrum One dominates with 28.51%. Blast and Base closely follow with 20.68% and 16.04%, respectively. Polygon POS shows a dominance of 8.71%, and Optimism registers a dominance of 7.67%. 

2.2. Blockchain 7-Day Change Analysis

Lets analyse the top five Layer 1 chains using the 7-day change index. 

Only two blockchains among the top five L1 chains show a positive seven-day change: Ethereum, which displays a seven-day change of +1.8%, and Solana, which displays a change of +1.3%. Conversely, Avalanche, BNB Smart Chain, and Bitcoin display a negative seven-day change. Avalanche shows the highest negative seven-day change (-8.5%). BNB Smart Chain and Bitcoin follow with -4.4% and -2.2%, respectively. 

Lets analyse the top five Layer 2 chains using the 7-day change index. 

Among the top five L2 chains, at least three blockchains display a positive 7-day change. Blast shows the highest positive 7-day change of +19.4%. Base and Arbitrum One follow with +2.6% and +1.7%, respectively. Optimism showcases the highest negative 7-day change of -3.3%. Polygon POS follows with -2.7% change.  

3. Cryptocurrency Weekly Analysis 

The Cryptocurrency Weekly analysis covers a wide range of analyses, from the general cryptocurrency market cap analysis and the top gainers and losers analysis to the Stablecoin, Memecoin, AI Coins and Metaverse Coins analyses.  

3.1. Top Cryptocurrency Categories By Market Cap 

Layer 1 (LI), Smart Contract Platform, Andreessen Horowitz Portfolio, Alameda Research Portfolio, and Alleged SEC Securities are the top five cryptocurrency categories by Market Cap. The Layer 1 (L1) category, with a $2,088,167,099,227 market cap, is the one with the highest market cap. The Smart Contract Platform category follows with a $770,415,441,846 market cap.      

Among the top five crypto categories, at least three show a positive 7-day change, though mild in nature. Alameda Research Portfolio, Andreessen Horowitz Portfolio, and Smart Contract Platform report +1.4%, +1.0% and +0.4% change, respectively. The biggest negative 7-day change is recorded by Alleged SEC Securities (-3.1%). The Layer 1 (L1) category follows with -1.0%.   

3.1.1. Trending Categories This Week 

PolitiFi, Pantera Capital Portfolio, Alleged SEC Securities, DePIN, Smart Contract Platform, and DWF Labs Portfolio are the top six trending categories this week.    

Among the top six trending categories of the week, the Smart Contract Platform category has the highest market cap of $770,357,776,148. The Alleged SEC Securities category follows with a $246,840,741,279 market cap. Pantera Capital Portfolio and DWF Labs Portfolio display $89,238,479,901 and $59,183,686,433 market cap, respectively.         

3.2. Top Cryptocurrencies By Market Cap 

The top five cryptocurrencies by market cap are Bitcoin, Ethereum, Tether, BNB, and Solana. Bitcoin has the highest market cap of $1,333,856,983,170. Ethereum follows with a market cap of $454,960,182,691. 

Among the top five cryptos, only one shows a positive 7-day change; Ethereum reports a 7-day change of +0.4%. The highest negative change is recorded by Solana (-1.6%). Bitcoin and BNB follow with -1.5% and -1.2%, respectively. Tether, the most prominent stablecoin, displays a mild change of -0.1%.  

3.2.1. Trending Coins This Week 

MANTRA, Notcoin, Foxy, JasmyCoin, and Pepe are the most trending cryptocurrencies at the time of preparing this analysis.  

Among the top five trending cryptocurrencies of the week, Pepe, a popular Memecoin, has the highest market cap of $6,419,889,652. JasmyCoin and Notcoin follow with $1,770,142,107 and $1,293,303,319, respectively. MANTRA displays a market cap of $610,502,346. Foxy registers a short market cap of $71,323,734.       

3.2.2. Top Gainers & Losers This Week 

Beercoin, Super Trump, MINATIVERSE, LandWolf and Notcoin are the weeks top gainers as per the 7-day gain index.  

Beercoin marks the highest 7-day gain of +745.6%. Super Trump and MINATIVERSE follow with +307.0% and +296.5%, respectively. LandWolf reports a 7-day change of +236.6%, and Notcoin records a 7-day gain of +162.0%. 

Harambe on Solana, Apu Apustaja, The Doge NFT, OpSec, and enqAI are the top losers of the week as per the 7-day loss index.   

Harambe on Solana marks the highest 7-day loss of -53.9%. Apu Apustaja and The Doge NFT follow with -44.8% and -43.1%, respectively. OpSec and enqAI display -41.2% and -40.1% 7-day loss, respectively. 

3.3. Top Stablecoins Analysis 

Tether, USDC, Dai, Ethena USDe, and First Digital USD are the top five stablecoins as per market cap.  

Among the top stablecoins, Tether has the highest market cap of $111,812,258,509. USDC and Dai follow with $32,336,510,399 and $5,303,873,042 market cap, respectively. Ethena USDe and First Digital USD mark $2,999,857,950 and $2,902,433,891 market cap, respectively.     

3.4. Top Memecoins 7-Day Change Analysis 

Dogecoin, Shiba Inu, Pepe, dogwifhat, and FLOKI are the top five Memecoins as per market cap. Dogecoin has the highest market cap of $23,012,805,115. Shiba Inu and Pepe follow with $14,884,794,410 and $6,426,728,734 market cap, respectively. 

Among the top five Memecoins, only Dogecoin shows a negative 7-day change; it marks a change of -3.3%. Dogwifhat displays the highest 7-day change of +16.2%. FLOKI closely follows with +14.0%. Shiba Inu and Pepe showcase +2.3% and +1.7% change, respectively. 

3.5. Top AI Coins 7-Day Change Analysis 

NEAR Protocol, Internet Computer, Fetch.ai, Render, and The Graph are the top five AI Coins as per market cap. NEAR Protocol has the highest market cap of $7,789,058,588 . Internet Computer and Fetch.ai closely follow with $5,578,204,219 and $5,372,352,253 market cap, respectively.  

All the top five AI coins show a negative 7-day change. The highest negative 7-day change is recorded by NEAR Protocol (-9.8%). Fetch.ai and The Graph follow with -9.1% and -8.0%, respectively. Internet Computer registers a -2.8% change, and Render records a -2.4% change. 

3.6. Top Metaverse Coins 7-Day Change Analysis 

Render, FLOKI, Axie Infinity, The Sandbox, and Decentraland are the top five Metaverse Coins on the basis of market cap. Render has the highest market cap of $3,886,518,932. FLOKI, Axie Infinity, and The Sandbox closely follow with $2,458,516,480, $1,081,176,676 and $979,500,947 market cap, respectively. 

Among the top five Metaverse coins, only one coin shows a positive 7-day change; FLOKI records a 7-day change of +14.0%. The largest negative 7-day change is reported by Axie Infinity (-7.4%). The Sandbox and Decentraland follow with -5.5% and -3.0%, respectively. Render reports a minimal 7-day change of -2.4%.  

4. Crypto ETF Weekly Analysis 

The crypto ETF weekly analysis covers Bitcoin Spot ETFs, Bitcoin Futures ETFs, and Ethereum Futures ETFs. 

4.1. Bitcoin Spot ETF Price Change Analysis 

GBTC, IBIT, FBTC, ARKB and BITB are the top five Bitcoin Spot ETFs based on Asset Under Management. GBTC marks the highest AUM of $24.33B. IBIT closely follows with an AUM of $17.24B. 

All the top five Bitcoin Spot ETFs mark a negative change. Ark/21 Sharess ARKB records the highest negative change of -1.75%. Both Fidelity FBTC and Bitwises BITB follow with the same change value of -1.65%. Grayscales GBTC and BlackRocks IBIT, both, report the same value of -1.56%. 

4.2. Bitcoin Futures ETF Price Change Analysis 

BITO, XBTF, BTF, BITS, and ARKA are the top five Bitcoin Futures ETFs as per Asset Under Management. BITO has the highest AUM of $598.78M. XBTF follows with $42.41M AUM. 

Among the top five Bitcoin Futures ETFs, at least two mark a positive change; Ark/21 Shares ARKA and VanEcks XBTF register +2.00% and +0.33% change, respectively. The highest negative change is reported by Global Xs BITS (-2.45%). ProSharess BITO closely follows with -2.12% change. Valkyries BTF also showcases a minimal change of -0.61%. 

4.3. Ethereum Futures ETF Price Change Analysis 

BITW, BTF, EFUT, EETH, and AETH are the top five Ethereum Futures ETFs based on Asset Under Management. BITW has the highest AUM of $478.00M. BTF follows with $25.93M AUM.  

Among the top five Ethereum Futures ETFs, only one displays a negative change; Valkyries BTF shows a change of -0.61%. Others showcase a positive change, though minimal in nature. The highest positive change is marked by VanEck EFUT (+0.58%). ProShares EETH, Bitwises AETH and Bitwises BITW follow with +0.38%, +0.15% and +0.10%, respectively.     

5. DeFi Protocols Weekly Analysis 

Lido, EigenLayer, AAVE, Maker and JustLend are the top five DeFi protocols as per Total Value Locked. Lido marks the highest TVL of $36.002B. EigenLayer and AAVE follow with $19.109B and $13.008B, respectively. 

Among the top five DeFi Protocols, at least three record a positive 7-day change. EigenLayer registers the highest positive change of +3.9%. Lido and AACE follow with +2.88% and +0.40%, respectively. Conversely, JustLend reports the highest negative change of -2.23%. Maker follows with -1.67% change.  

6. Crypto Exchange Weekly Analysis 

6.1. Top Crypto Centralised Exchanges 

Binance, Coinbase Exchange, Bybit, WhiteBIT, and OKX are the top five crypto centralised exchanges on the basis of Monthly Visits. 

Among the top five crypto centralised exchanges by Monthly Visits, Binance has the highest number of monthly visits of 75.3M. Coinbase Exchange and Bybit closely follow with 46.3M and 31M monthly visits, respectively. WhiteBIT marks 24.8M monthly visits and OKX 24.1M. 

Of these exchanges, at least three, Coinbase Exchange, Bybit, and OKX, report a 10/10 trust score. Binance shows 9/10 trust score and WhiteBIT 8/10.   

6.2. Top Crypto Decentralised Exchanges 

Uniswap V3 (Ethereum), Jupiter, Orca, Uniswap V3 (Arbitrum One), and Rydium are the top five crypto decentralised exchanges on the basis of Market Share by Volume.   

Among the top five decentralised crypto exchanges, Uniswap V3 (Ethereum) has the highest marke share by volume in per cent of 21.4%. Jupiter follows with 13.6%. Orca, Uniswap V3 (Arbitrum One), and Raydium register 6.5%, 6.1% and 5.3%, respectively.  

6.3. Top Crypto Derivative Exchanges 

Binance (Futures), Bybit(Futures), Deepcoin (Derivatives), Bitget Futures, and CoinW (Futures) are the top five crypto derivative exchanges by 24-hour open interest. 

Among the top five crypto derivative exchanges, Binance (Futures) has the highest 24-hour Open Interest of $21,163,375,400. Bybit (Futures) and DeepCoin (Derivatives) follow with $13,529,713,119 and $11,096,765,826, respectively. Of these exchanges, Binance (Futures) marks the highest volume of $48,434,469,183. CoinW (Futures) follows with $26,636,487,009 volume.         

7. NFT Marketplace Weekly Analysis 

Blur, Blur Aggregator, Cryptopunks, Gem, X2Y2, and Gem are the top five NFT Marketplaces by Market Share. Blur has the highest market share of 68.79%. Blur Aggregator and Cryptopunks follow with 23.38% and 4.43% market share, respectively. 

Among the top five NFT marketplaces, only one shows a positive volume change; X2Y2 records a massive change of +113%. The highest negative change is recorded by the Blur Aggregator (-32.53%). Blur closely follows with -25.81%. Cryptopunks display a change of -9.93%. Gem registers a minimal change of -0.62%. 

7.1. Top NFT Collectibles This Week 

Azuki #3374, $ORDI BRC-20 NFTs #8b1e444e, BOOGLE #Ai822dfBR7, CryptoPunks #9461, and CryptoPunks #1714 are the top NFT collectables based on Price. 

Azuki #3374 marks the highest price of $393,112.31. $ORDI BRC-20 NFTs #8b1e444e and BOOGLE #Ai822dfBR7 follow with $305,258.05 and $206,935.53 price, respectively. CryptoPunks #9461 reports $160,409.63 price, and CryptoPunks #1714 registers $160,409.63 price.        

8. Web3, Blockchain & Crypto Funding Analysis 

8.1. Crypto Fundraising Trend 

This week, the crypto sector has so far raised nearly $348.10M, higher than the previous years value of $250.47M. 

8.2. Most Active Investors This Week 

Animoca Brands, DWF Labs, Blockchain Founders Fund, SNZ Holdings, and The Spartan are the most active investors this week, based on the number of deals.   

Among the most active investors, Animoca Brands records the highest number of deals of 7, of which at least 6 are investments and one lead investment. DWF Labs, Blockchain Founders Fund, SNZ Holdings, and The Spartan Group mark three deals each; among them, The Spartan Group records no lead investments, but others register a deal each.  

8.3. Crypto Fundraising By Category 

Blockchain Infrastructure, Blockchain Services, CeFi, Chain, DeFi, GameFi, NFT and Social are the categories raised funds this week. 

Blockchain Services is the category that raised the highest amount of $170.30M. Blockchain Infrastructure follows with $98.50M. DeFi and GameFi show $34.20M and $23.80M funds raised, respectively. Chain, CeFi and Social report $8.30M, $7.25M, and $5.75M, respectively.    

8.4. Top Crypto Investment Locations 

Apart from the undisclosed category, Singapore, the US, China, Switzerland, Cayman Islands, and Colombia are the top crypto investment locations, on the basis of funds raised.  

Singapore is the topmost crypto investment location, with $150.00M funds raised. The Undisclosed category is the one which follows with $93.65M. The US, the third highest crypto investment location, records $86.45M funds raised. China, Switzerland, Cayman Island, and Colombia mark $6.00M, $5.00M, $4.0M and $3.00M, respectively. 

8.5. Most Active Crypto VC Jurisdictions 

The US, Singapore, China, the UK, Switzerland, and the UAE are the most active crypto venture capital jurisdictions.  

The US, with 69 projects, is the top most venture capital jurisdiction this week. Singapore and China follow with 20 and 17 projects, respectively. The UK shows six projects, and Switzerland and the UAE, both, record five projects each.  

9. Web 3, Blockchain & Crypto Hack Updates 

The total value hacked is $8.2B. The total value hacked in DeFi is $5.96B, and total value hacked in Bridges is $2.83 billion. 

DMM Bitcoin, Gala, ALEX, pump.fun and Sonne Finance are the top five project hacks reported this month. The Sonne Finance hack is the first reported this month. In this hack reported on 15th May, 2024, the project lost nearly $20M. ALEX and pump.fun were reported on 16th May. In the ALEX hack, nearly $23.9M was lost. In the pump.fun hack, only $2M was lost. It is the smallest hack this month in terms of the amount lost. In the Gala hack, reported on 20th May, nearly $22M were lost. The DMM Bitcoin hack, reported on 31st May, 2024, is the latest hack. The hack resulted in a huge loss of $305M, which is the worst loss reported in recent history.  

Endnote  

This report comprehensively analyses the current performance of various blockchains and cryptocurrencies, including Bitcoin, Altcoins, Stablecoins, AI Coins, Memecoins and Metaverse. It highlights trending coins, top gainers and losers, and delves into Crypto ETFs such as Bitcoin Spot ETFS, Bitcoin Futures ETFs, and Ethereum Futures ETFs. Additionally, it examines centralised, decentralised, and derivatives crypto exchanges, DeFi protocols, and NFT marketplaces. The report also covers crypto fundraising activities, prominent investors, key investment locations, and notable crypto hacks reported lately.  

Read more: https://coinpedia.org/research-report/weekly-crypto-report-hacks-market-trends-and-the-latest-in-blockchain-and-web3/

Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr