Weekly Market Wrap Beta - June 19, 2021
Welcome to the Weekly Market Wrap, DAR’s new newsletter on crypto market performance and the week’s news, trends, and data.
Receive the Weekly Market Wrap each Saturday, sign up here.
Data Source: DAR, TradingView¹
Macro Overview
Digital asset markets were down on the week with the total industry market cap breaking below $1.5 trillion. Bitcoin’s (BTC) price faced resistance at $40,000 and fell back to $35,000.
Macro Comparison
See a comparison of net returns across Bitcoin, Ethereum, Gold, and the S&P 500 over the last year in the chart below.
See how Bitcoin’s performance was correlated to Ethereum, gold, and the S&P 500 over the last year in the chart below.
See how 30-day rolling volatility has compared across Bitcoin, Ethereum, gold, and the S&P 500 over the last year in the chart below.
Top News Recap
- BitDAO Raises $230M for Decentralized Crypto Investment Fund — Coindesk
- House Democrats Form Working Group Focused on Cryptocurrencies — The Block
- Billionaire Investor Paul Tudor Jones Wants to Have 5% Of His Assets in Bitcoin — The Block
- State Street Stands Up New Crypto Unit As It Eyes Potential Custody, DeFi Products — The Block
- Goldman Expands in Crypto Trading With Plans for Ether Options — Bloomberg
Weekly Best and Worst Performers
UCA Coin (UCA) was the best performing token over the past week, while Bytecoin (BCN) was the most significant laggard. More than 800 digital assets were considered when evaluating performance.
Bitcoin Performance by Region
Bitcoin’s performance across regional trading sessions was relatively down over the past week. The most significant downturn of the week happened on June 16 during the European session whereas the most positive price action happened on June 13.
Sector Volatility vs Return
Performance across all DAR Sectors except Stable & Fiat Backed Tokens has been negative over the past month. The Privacy-Preserving sector has experienced the highest volatility (above 30%) compared to other sectors, which average between 10–15% volatility.
See how volatility compared to returns across different sectors of the digital asset market over the last month in the chart below. With 400+ classified assets, DAR’s Industry Taxonomy allows clients to perform analysis across market segments and more.
DAR Vetted Exchanges Weekly Volume Breakdown
Bitcoin trading volume across Vetted Exchanges was relatively stable last week (June 9-June 16, 2021). Coinbase saw the most volume, followed by Kraken and Bitfinex.
See how Bitcoin volume compared across Vetted Exchanges in the chart below. To learn more about DAR’s Verified Volume Data, click here.
DAR Updates
Digital Asset Research (DAR) Announces Michael Zimberg as Chief Technology Officer
DAR announced the hiring of Michael Zimberg as Chief Technology Officer. Zimberg, who was most recently with Citi and has extensive Wall Street technology leadership experience, will direct DAR’s technology strategy as the firm continues to enhance and expand its crypto data and pricing solutions for institutional clients.
Check out the full press release here.
¹ Value as of yesterday 5p ET; indices and financial products market data from TradingView
² DAR price at 5p 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.
If you would like to submit an announcement or a news item for inclusion in this newsletter, please reach out to news@digitalassetresearch.com.
All publication decisions are at the discretion of the DAR editorial staff.
