SOTM Mar 7-13, 2024
Welcome to our 163rd issue of State of the Market, where we provide an overview of crypto market activity from March 7 - 13, 2024. Ethereum executes its 2nd major upgrade since the Merge, activating EIP-4844 to introduce dedicated "blobspace" for [...]
Recent
SOTM May 18-24, 2023
Past U.S. presidents have harbored hostility towards crypto, but 2024's cast of candidates are coming to consensus on a new view. Last Friday, Robert F. Kennedy Jr. took the stage at the Bitcoin 2023 conference, expressing admiration for the asset's [...]
SOTM May 11-17, 2023
Though "Mint the Coin" sounds like something you'd hear in crypto circles, the phrase is now a trending topic in U.S. Congress. The federal budget is at the mercy of a debt ceiling standoff, with the upper bound of U.S. [...]
SOTM May 4-10, 2023
On-chain activity is shattering records as Bitcoin and Ethereum experience a torrent of token trading. Despite the memecoin's apparent lack of utility, the Pepecoin (PEPE) ERC-20 captured a market cap of nearly $1.6B, though the asset since surrendered 50% of [...]
SOTM April 27-May 3, 2023
First Republic has joined the ranks of failed regional banks, beating SVB's breakdown to become the 2nd-largest banking collapse in U.S. history. The FDIC seized control of First Republic over the weekend after the bank failed to rally enthusiasm for [...]
SOTM April 20-26, 2023
After months of being taken to court, crypto firms are finally going on the offensive. Following their acquisition of a license to operate in Bermuda last week, Coinbase kicked off Monday by suing the SEC, petitioning that the regulator be [...]
SOTM April 13-19, 2023
For five hours on Tuesday, Congress grilled Gary Gensler. The SEC chair faced a fierce scolding from many members of the House Financial Services Committee, though Rep. Maxine Waters (D-Calif.) applauded Gensler for his forceful actions in going after "crypto [...]
SOTM April 6-12, 2023
Seven months post-Merge, Ethereum notches another fork in its chain. The "Shapella" upgrade (combining 'Shanghai' for Execution & 'Capella' for Consensus) is now officially activated, allowing proof-of-stake validators to withdraw their funds from the Beacon Chain. As ETH devs celebrate [...]
SOTM March 30-April 5, 2023
With the second quarter of 2023 underway, digital asset market participants are hoping for a repeat of the first. Despite foggy macroeconomic and regulatory conditions, bitcoin and the bulk of digital assets shined against other financial asset classes. With BTC [...]
SOTM March 23-29, 2023
The SEC stole the show for weeks, but the CFTC just fired the biggest shot yet in the crusade to cull crypto. In a 74-page complaint issued Monday, the U.S. commodities regulator sued digital asset behemoth Binance over a lack [...]
Special Insights
The Rise of Stablecoins
The idea of having a stable digital currency has existed for a long time, and even predates Bitcoin. But for all intents and purposes, the rise of stablecoins started in early 2015 when cryptocurrency exchanges began listing Tether for trading. [...]