Weekly Market Wrap — December 3, 2021
Welcome to the Weekly Market Wrap, which arrives each Friday.
The Weekly Market Wrap is DAR’s new newsletter on crypto market performance and the week’s news, trends, and data.
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Data Source: DAR, TradingView¹
Macro Overview
Digital asset markets were up this week with the total industry market cap hovering above $2.7 trillion. The price of Bitcoin (BTC) closed at $57,066.12, down 3.13% on the week, while Ethereum (ETH) closed at $4,536.63, up 0.51% on the week.
Macro Comparison
Over the last 30 days, Bitcoin is down 9.60% while Ethereum is up 0.72%. Since November 13, the two assets have seen their 30-day rolling volatility begin to diverge, with Ethereum’s rolling volatility rising to over 4%.
See a comparison of rolling volatility and net returns across Bitcoin, Ethereum, gold, and the S&P 500 over the last month in the chart below.
Ethereum remains positively correlated with Bitcoin when looking at a 30-day rolling correlation. The S&P 500 and gold are not currently correlated with Bitcoin but have recently started to trend toward being positively correlated to Bitcoin.
See how Bitcoin’s performance was correlated to Ethereum, gold, and the S&P 500 over the last month in the chart below.
Top News Recap
- Defi Protocol BadgerDAO Exploited for $120 Million in Front-End Attack — The Block
- South Korean Crypto VC Hashed Launches New $200 Million Fund — The Block
- 1inch Network Closes $175 Million Series B, Aims to Serve Institutional Customers — The Block
- Borderless Capital Launches $500M Algorand-Focused Fund — CoinDesk
- Citi Veteran Launches $1.5B Crypto Fund With Algorand as Strategic Partner — Decrypt
DAR Vetted Exchanges Volume Ratio
After dipping in the middle of November, Bitcoin and Ethereum’s combined share of relative DAR Benchmark Asset trading volume on Vetted Exchanges has rebounded recently.
Cardano (ADA) saw an increase in its share of relative volume in the last few days, accounting for 20.37% of relative DAR Benchmark Asset volume on Vetted Exchanges with Bitcoin and Ethereum excluded on December 2.
¹ Value as of yesterday 4p ET; indices and financial products market data from TradingView daily close
² DAR price at 4p ET and % change from prior day’s values
Contact us for details on Vetted and Watchlist Exchanges or prices and volumes for 1000+ crypto assets. We also welcome feedback on this newsletter.
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All publication decisions are at the discretion of the DAR editorial staff.
