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Web3, Blockchain & Crypto Weekly Reports
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? Let’s explore the latest trends and insights together!
1. Web3, Blockchain & Crypto Breaking News This Week
Here are this week’s major breaking news reports, related to the Web3, Blockchain and crypto world, that you should never miss.
- NY Attorney General Sues Crypto Companies for Fraud
New York Attorney General Letitia James sues NovaTechFx and AWS Mining, alleging illegal pyramid schemes that defrauded over 11,000 individuals and investors, causing losses exceeding a billion dollars in cryptocurrency.
- Creditors Object to FTX Reorganisation Plan
Creditors of bankrupt cryptocurrency exchange FTX object to its reorganisation plan, citing issues with property rights, the best interest test, and inconsistent debtors liquidation analysis. The objection was highlighted by FTX creditor activist Sunil Kavuri.
- Andrew Tate’s Meme Coins Disrupt Solana Market
Andrew Tate-inspired meme coins trend on DEXScreener, quickly amassing hundreds of millions of dollars. Tate confirms his attempt to crash Solana, causing chaos in the crypto market.
- SEC Chair Gensler Delays Spot Ethereum ETFs
SEC Chair Gray Gensler raises concerns over unethical conduct in crypto exchanges. He maintains in a recent interview that the introduction of spot Ethereum ETFs will need more time.
- Cardano Founder Defends Network’s Fundamentals
Cardano founder Charles Hoskinson refutes claims of weak fundamentals, criticising media for negative portrayals. He asserts that Cardano’s progress contrasts starkly with the media’s depiction.
- Robinhood to Acquire Bitstamp for $200 Million
Trading platform Robinhood plans to buy cryptocurrency exchange Bitstamp in an all-cash deal valued at $200 million. The acquisition aims to expand Robinhood’s crypto presence and attract institutional clients.
- Lawmakers Urge Biden to Help Detained Binance Executive
U.S. lawmakers call on President Joe Biden to intervene in the detention of Tigran Gambaryan, a Binance executive held by Nigerian authorities for nearly three months. They demand immediate action, treating it as a hostage crisis.
- Thailand Approves First Bitcoin ETF for Wealthy Investors
Thailand’s SEC approves One Asset Management to launch the country’s first Bitcoin ETF, available exclusively to wealthy and institutional investors. The ETF invests in 11 prominent global funds.
- Bitpanda and Deutsche Bank Partner for Real-Time Payments
Austrian crypto broker Bitpanda partners with Deutsche Bank to enable real-time payment solutions in Germany. Through API integration, Bitpands will access German IBAN accounts, streamlining user transactions.
- Watford FC Offers Equity on Crypto Platforms
Watford Football Club plans to sell 10% of its equity to investors, including fans, via crypto and startup investment platforms Republic and Seedrs. This initiative aims to engage supporters and raise funds.
- Americans Turning to Bitcoin Amid Geopolitical Tensions
A Harris Poll survey, funded by Bitcoin ETF issuer Grayscale, shows increasing numbers of American voters considering Bitcoin as a hedge against geopolitical tensions and inflation. One in three voters will consider candidates’ stances on cryptocurrencies.
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.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 1:59 AM (GMT-4)]
| Blockchains | Dominance | TVL |
| Ethereum | 64.07% | $66,389,145,462 |
| TRON | 8.38% | $8,681,768,450 |
| BNB Smart Chain | 5.64% | $5,840,828,974 |
| Solana | 4.61% | $4,774,373,036 |
| Arbitrum One | 3.08% | $3,190,925,020 |
| Others | 14.22% |
Among the top five chains, Ethereum dominates with 64.07%. TRON and BNB Smart Chain follow with 8.38% and 5.64%, respectively. Ethereum marks a TVL of $66,389,145,462. TRON and BNB Smart Chain record $8,681,768,450 and $5,840,828,974 TVL, 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 Blockchains by dominance and TVL.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:07 AM (GMT-4)]
| Layer 1 Blockchains | Dominance | TVL |
| Ethereum | 81.13% | $66,329,231,344 |
| BNB | 7.08% | $5,784,982,113 |
| Solana | 5.85% | $4,781,612,203 |
| Bitcoin | 1.46% | $1,193,274,320 |
| Avalanche | 1.08% | $886,652,239 |
| Others | 3.40% |
Among the top five Layer 1 chains, Ethereum dominates with 81.13%. BNB and Solana follow with 7.08% and 5.85%, respectively. Ethereum has the highest TVL of $66,329,231,344. BNB and Solana follow with $5,784,982,113 and $4,781,612,203, respectively.
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.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:10 AM (GMT-4)]
| Layer 2 Blockchains | Dominance | TVL |
| Arbitrum One | 28.72% | $3,185,688,673 |
| Blast | 20.47% | $2,270,612,614 |
| Base | 15.73% | $1,744,364,297 |
| Polygon POS | 8.80% | $976,541,196 |
| Optimism | 7.53% | $834,930,260 |
| Others | 18.75% |
Among the top five Layer 2 chains, Arbitrum has the highest dominance of 28.72%. Blast and Base closely follow with 20.47% and 15.73%, respectively. Arbitrum One has the highest TVL of $3,185,688,673. Blast and Base follow with $2,270,612,614 and $1,744,364,297, respectively.
2.2. Blockchain 7-Day Change Analysis
Let’s analyse the top five Layer 1 chains using the 7-day change index.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:21 AM (GMT-4)]
| Layer 1 Blockchains | 7-Day Change |
| Ethereum | +2.8% |
| BNB | +8.0% |
| Solana | -0.2% |
| Bitcoin | +3.2% |
| Avalanche | -5.0% |
Among the Layer 1 blockchains, at least three show positive 7-day change. BNB marks the highest change of +8.0%. Bitcoin and Ethereum follow with +3.2% and +2.8%, respectively. Conversely, Avalanche displays a negative change of -5.0%, and Solana registers a minimal negative change of -0.2%.
Let’s analyse the top five Layer 2 chains using the 7-day change index.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:23 AM (GMT-4)]
| Layer 2 Blockchains | 7-Day Change |
| Arbitrum One | +3.1% |
| Blast | +2.0% |
| Base | +1.7% |
| Polygon POS | +2.8% |
| Optimism | +0.3% |
All the Layer 2 blockchains show a positive 7-day change. Arbitrum One records the highest change of +3.1%. Polygon POS and Blast closely follow with +2.8% and +2.0%, respectively. Base registers a change of +1.7%, and Optimism reports a minimal positive change of +0.3%.
Also Read: Blockchain Monthly Report For May 2024: All You To Need To Know To Stay Ahead
3. Cryptocurrency Weekly Analysis
The cryptocurrency weekly analysis covers a wide range of analysis from the general cryptocurrency market cap analysis and the top gainers and losers analysis to the Stablecoin, Memecoin, AI Coins and Metaverse Coins analysises.
3.1. Top Cryptocurrency Categories By Market Cap
Layer 1 (LI), Smart Contract Platform, Andreessen Horowitz Portfolio, Multicoin Capital Portfolio, and Alameda Research Portfolio are the top five cryptocurrency categories by Market Cap. The Layer 1 (L1) category, with $2,189,424,328,641 market cap, is the one with the highest market cap. The Smart Contract Platform category follows with a $797,526,071,177 market cap.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:28 AM (GMT-4)]
| Crypto Categories | Market Cap | 7-Day Change |
| Layer 1 (L1) | $2,189,424,328,641 | +4.4% |
| Smart Contract Platform | $797,526,071,177 | +4.2% |
| Andreessen Horowitz (a16z) Portfolio | $629,913,218,767 | +1.8% |
| Multicoin Capital Portfolio | $585,970,584,300 | N/A |
| Alameda Research Portfolio | $576,269,672,044 | +2.0% |
All the major crypto categories show a positive 7-day change. Layer 1 (L1) has the highest 7-day change of +4.4%. Smart Contract Platform closely follows with +4.2%. Alameda Research Portfolio and Andreessen Horowitz (a16z) Portfolio report +2.0% and +1.8%, respectively.
3.1.1. Trending Categories This Week
Base Meme, PolitiFI, Cat-Themed, Frog-Themed, Strategy Games, and Internet of Things (IOT) are the top six trending categories this week.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:44 AM (GMT-4)]
| Trending Categories | Market Cap |
| Base Meme | $2,460,016,190 |
| PolitiFI | $1,703,469,186 |
| Cat-Themed | $2,673,450,848 |
| Frog-Themed | $8,415,191,190 |
| Strategy Games | $257,276,851 |
| Internet of Things (IOT) | $7,455,301,823 |
Among the trending categories, the Frog-Themed category has the highest market cap of $8,415,191,190. The category of Internet of Things (IOT) follows closely with $7,455,301,823. Conversely, Strategy Games has the lowest market cap of $257,276,851.
3.2. Top Cryptocurrencies By Market Cap
Bitcoin, Ethereum, Tether, BNB, and Solana are the top five cryptocurrencies by market cap. Bitcoin has the highest market cap of $1,403,190,110,920. Etheruem follows with a market cap of $457,933,361,461.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:44 AM (GMT-4)]
| Cryptocurrencies | Market Cap | 7-Day Change |
| Bitcoin | $1,403,190,110,920 | +4.0% |
| Ethereum | $457,933,361,461 | +1.8% |
| Tether | $112,281,133,223 | -0.0% |
| BNB | $108,568,348,855 | +19.1% |
| Solana | $79,127,150,522 | +3.5% |
All the major cryptos show a positive 7-day change. BNB records the highest 7-day change of +19.1%. Bitcoin and Solana follow with +4.0% and +3.5%, respectively. Ethereum registers a change of +1.8%.
3.2.1. Trending Coins This Week
MANTRA, GALA, MAGA Hat, Planet IX, and OctaSpace are the most trending cryptocurrencies at the time of preparing this analysis.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:46 AM (GMT-4)]
| Trending Cryptocurrencies | Market Cap |
| MANTRA | $779,386,388 |
| GALA | $1,600,024,761 |
| MAGA Hat | $109,068,843 |
| Planet IX | $50,344,685 |
| OctaSpace | $57,007,169 |
Among the trending cryptos, GALA has the highest market cap of $1,600,024,761. MANTRA and MAGA Hat follow with $779,386,388 and $109,068,843, respectively. Conversely, Planet IX, with $50,344,685, has the lowest market cap. OctaSpace follows with $57,007,169.
3.2.2. Top Gainers & Losers This Week
GME, Basenji, Undeads Games, Beercoin and Base God are the top gainers of the week as per the 7-day gain index.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:50 AM (GMT-4)]
| Top Gainers | 7-Day Gain |
| GME | 647.2% |
| Basenji | +248.7% |
| Undeads Games | +225.2% |
| Beercoin | +177.4% |
| Base God | +91.2% |
GME has the highest 7-day change of 647.2%. Basenji and Undeads Games follow with +248.7% and +225.2%, respectively. Beercoin and Base mark +177.4% and +91.2% 7-day gain, respectively.
Lifeform, NEM, Waves, OMG Network and MANEKI are the top losers of the week as per the 7-day loss index.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:55 AM (GMT-4)]
| Top Losers | 7-Day Loss |
| Lifeform | -44.0% |
| NEM | -39.8% |
| Waves | -39.3% |
| OMG Network | -36.6% |
| MANEKI | -33.2% |
Lifeform has the highest 7-day loss of -44.0%. NEM and Waves follow with -39.8% and -39.3%, respectively. OMG Network and MANEKI register -36.6% and -33.2%, respectively.
3.3. Top Stablecoins Analysis
Tether, USDC, Dai, Ethena USDe, and First Digital USD are the top five stablecoins as per market cap.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 3:07 AM (GMT-4)]
| Stablecoins | Market Cap |
| Tether | $112,456,988,338 |
| USDC | $32,559,591,922 |
| Dai | $5,261,827,701 |
| Ethena USDe | $3,233,199,303 |
| First Digital USD | $2,951,621,799 |
Among the top stablecoins, Tether has the highest market cap of $112,456,988,338. USDC follows with a $32,559,591,922 market cap. Dai and Ethena USDe register $5,261,827,701 and $3,233,199,303 market cap, respectively. First Digital USD records a market cap of $2,951,621,799.
Also Check Out: Stablecoin Performance and Analysis May Update: An In-depth Monthly Report
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 $23,353,726,020. Shiba Inu and Pepe follow with $14,896,831,815 and $6,061,873,304 market cap, respectively.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 3:09 AM (GMT-4)]
| Memecoins | Market Cap | 7-Day Change |
| Dogecoin | $23,353,726,020 | +1.3% |
| Shiba Inu | $14,896,831,815 | -2.2% |
| Pepe | $6,061,873,304 | -1.0% |
| dogwifhat | $3,294,724,391 | -2.9% |
| FLOKI | $3,012,737,598 | +25.0% |
Among the top Memecoins, only two coins show a positive 7-day change. FLOKI reports an impressive 7-day change of +25.0%. Dogecoin follows with a minimal change of +1.3%. Conversely, dogwifhat and Shiba Inu report -2.9% and -2.2% change, respectively. Pepe marks a minimal negative change of -1.0%.
3.5. Top AI Coins 7-Day Change Analysis
NEAR Protocol, Internet Computer, Fetch.ai, Render, and Bittensor are the top five AI Coins as per market cap. NEAR Protocol has the highest market cap of $8,044,387,303. Internet Computer and Fetch.ai closely follow with $5,588,676,977 and $5,137,865,736 market cap, respectively.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 3:14 AM (GMT-4)]
| AI Coins | Market Cap | 7-Day Change |
| NEAR Protocol | $8,044,387,303 | +2.1% |
| Internet Computer | $5,588,676,977 | +1.7% |
| Fetch.ai | $5,137,865,736 | -6.5% |
| Render | $4,046,994,329 | +3.8% |
| Bittensor | $2,929,555,949 | +9.8% |
Among the top AI coins, only one shows a negative 7-day change; Fetch.ai displays a change of -6.5%. Bittensor has the highest 7-day positive change of +9.8%. Render, NEAR Protocol and Internet Computer follow with +3.8%, +2.1% and +1.7%, respectively.
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 $4,042,207,103. FLOKI, Axie Infinity, and The Sandbox closely follow with $3,007,267,903, $1,222,799,895, and $1,066,651,856 market cap, respectively.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 3:18 AM (GMT-4)]
| Metaverse Coins | Market Cap | 7-Day Change |
| Render | $4,042,207,103 | +3.9 |
| FLOKI | $3,007,267,903 | +24.9 |
| Axie Infinity | $1,222,799,895 | +13.7 |
| The Sandbox | $1,066,651,856 | +8.4 |
| Decentraland | $878,198,238 | +6.4 |
All the top Metaverse Coins show a positive 7-day change. FLOKI shows the highest 7-day change of +24.9%. Axie Infinity and The Sandbox follow with +13.7% and +8.4%, respectively. Decentraland and Render report +6.4% and +3.9%, respectively.
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.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 3:24 AM (GMT-4)]
| Bitcoin Spot ETFs | Price | Change | AUM |
| Grayscale (GBTC) | $62.63 | -1.14% | $24.33B |
| BlackRock (IBIT) | $40.16 | -1.25% | $17.24B |
| Fidelity (FBTC) | $61.65 | -1.17% | $9.90B |
| Ark/21 Shares (ARKB) | $70.47 | -1.19% | $2.85B |
| Bitwise (BITB) | $38.43 | -1.18% | $2.16B |
Among the top Bitcoin Spot ETFs, none show a positive change. IBIT displays the highest negative change of -1.25%. ARKB and BITB follow with -1.19% and -1.18%, respectively. FBTC and GBTC report -1.17% and -1.17%, respectively.
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.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 3:30 AM (GMT-4)]
| Bitcoin Futures ETFs | Price | Change | AUM |
| ProShares (BITO) | $26.64 | -1.22% | $598.78M |
| VanEck (XBTF) | $39.22 | +0.33% | $42.41M |
| Valkyrie (BTF) | $21.54 | -1.73% | $38.20M |
| Global X (BITS) | $72.36 | +1.94% | $26.10M |
| Ark/21 Shares (ARKA) | $67.42 | -0.69% | $8.01M |
Among the Bitcoin Futures ETFs, at least two ETFs show a positive change; BITS and XBTF mark +1.94% and +0.33%, respectively. Conversely, BTF has the highest negative change of -1.73%. BITO and ARKA follow with -1.22% and -0.69%, respectively.
4.3. Ethereum Futures ETF Price Change Analysis
BITW, BTF, EFUT, and EETH are the top four Ethereum Futures ETFs based on Asset Under Management. BITW has the highest AUM of $478.00M. BTF follows with $25.93M AUM.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 3:33 AM (GMT-4)]
| Ethereum Futures ETFs | Price | Change | AUM |
| Bitwise (BITW) | $38.00 | -0.52% | $478.00M |
| Valkyrie (BTF) | $21.54 | -1.73% | $25.93M |
| VanEck (EFUT) | $29.27 | -1.96% | $7.84M |
| ProShares (EETH) | $79.92 | -2.31% | $6.43M |
Among the Ethereum Futures ETFs, none show a positive change. EETH reports the highest negative change of -2.31%. EFUT and BTF follow with -1.96% and -1.73%, respectively. BITW has the lowest negative change of -0.52%.
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 $36.411B. EigenLayer and AAVE follow with $19.995B and $13.17B, respectively.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 3:54 AM (GMT-4)]
| DeFi Protocols | TVL | 7-Day Change |
| Lido | $36.411B | +2.33% |
| EigenLayer | $19.995B | +7.78% |
| AAVE | $13.17B | +2.14% |
| Maker | $8.685B | -1.93% |
| JustLend | $6.834B | +3.87% |
Among the top DeFi protocols, only one DeFi Protocol marks a negative 7-day change; Maker reports a change of -1.93%. Conversely, EigenLayer records the highest positive change of +7.78%. Lido and AAVE register +2.33% and +2.14%, respectively.
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.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 4:05 AM (GMT-4)]
| Crypto Centralised Exchanges | Monthly Visits | Trust Score |
| Binance | 75.3M | 9/10 |
| Coinbase Exchange | 46.3M | 10/10 |
| Bybit | 31M | 10/10 |
| WhiteBIT | 24.8M | 8/10 |
| OKX | 24.1M | 10/10 |
Among the top crypto centralised exchanges, Binance marks the highest number of monthly visits of 75.3M. Coinbase Exchange and Bybit follow with 46.3M and 31M, respectively. WhiteBIT and OKX report 24.8M and 24.1M, respectively. At least three of these exchanges have a trust score of 10/10. Binace displays a trust score of 9/10 and WhiteBIT showcases a low trust score of 8/10.
6.2. Top Crypto Decentralised Exchanges
Jupiter, Uniswap V3 (Ethereum), Cellana Finance, Orca and Raydium are the top five crypto decentralised exchanges on the basis of Market Share by Volume.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 4:10 AM (GMT-4)]
| Crypto Decentralised Exchanges | % Market Share by Volume | 24-Hour Volume |
| Jupiter | 17.1% | $1,149,791,066 |
| Uniswap V3 (Ethereum) | 10.2% | $682,342,003 |
| Cellana Finance | 9.9% | $667,582,096 |
| Orca | 8.1% | $547,149,993 |
| Raydium | 7.6% | $509,121,014 |
Among the top crypto decentralised exchanges, Jupiter marks the highest market share by volume of 17.1%. Uniswap V3 (Ethereum) and Cellana Finance follow with 10.2% and 9.9%, respectively. Orca and Raydium report 8.1% and 7.6%, respectively.
6.3. Top Crypto Derivative Exchanges
Binance (Futures), Bybit(Futures), Bitget Futures, Deepcoin (Derivatives), and CoinW (Futures) are the top five crypto derivative exchanges by 24-hour open interest.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 4:13 AM (GMT-4)]
| Crypto Derivative Exchanges | 24-Hour Open Interest | 24-Hour Volume |
| Binance (Futures) | $23,143,639,948 | $42,813,327,442 |
| Bybit (Futures) | $14,867,114,072 | $14,525,475,077 |
| Bitget Futures | $11,883,227,811 | $12,496,493,865 |
| Deepcoin (Derivatives) | $11,301,142,708 | $6,307,084,013 |
| CoinW (Futures) | $9,527,049,814 | $14,842,040,489 |
Among the crypto derivative exchanges, Binance (Futures) has the highest open interest of $23,143,639,948. Bybit (Futures) and Bitget Futures follow with $14,867,114,072 and $11,883,227,811, respectively. Deepcoin (Derivatives) and CoinW (Futures) mark $11,301,142,708 and $9,527,049,814 open interest, respectively.
7. NFT Marketplace Weekly Analysis
Blur, Blur Aggregator, Gem, Opensea, and X2Y2 are the top five NFT Marketplaces by Market Share. Blur has the highest market share of 80.09%. Blur Aggregator and Gem follow with 18.56%% and 0.40% market share respectively.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 4:16 AM (GMT-4)]
| NFT Marketplaces | Market Share | Volume Change (Change of last 7-D Volume over the Previous 7-D Volume) |
| Blur | 80.09% | -18.53% |
| Blur Aggregator | 18.56% | -30.57% |
| Gem | 0.40% | -46.52% |
| Opensea | 0.38% | -34.32% |
| X2Y2 | 0.22% | -72.89% |
Among the top NFT marketplaces, none share a positive volume change. X2Y2 has the highest negative change of -72.89%. Gem follows with -46.52% volume change respectively. Opensea and Blur Aggregator report -34.32% and -30.57%, respectively. Blur records a comparative lower negative volume change of -18.53%.
7.1. Top NFT Collectibles This Week
5df669f8cd2889, 5883d5e7b81bb0d2, CryptoPunks #1002, CryptoPunks #9570, and CryptoPunks #1333 are the top NFT collectibles based on Price.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:44 AM (GMT-4)]
| NFT Collectibles | Price |
| 5df669f8cd2889 | $219,102.49 |
| 5883d5e7b81bb0d2 | $209,232.03 |
| CryptoPunks #1002 | $193,371.84 |
| CryptoPunks #9570 | $166,974.73 |
| CryptoPunks #1333 | $151,344.23 |
5df669f8cd2889 marks the highest price of $219,102.49. The NFT collective of 5883d5e7b81bb0d2 follows with $209,232.03. CryptoPunks #1002, CryptoPunks #9570, and CryptoPunks #1333 record $193,371.84, $166,974.73, and $151,344.23, respectively.
8. Web3, Blockchain & Crypto Funding Analysis
8.1. Crypto Fundraising Trend
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:44 AM (GMT-4)]
| Week | Funds Raised | Number of Fundraising Rounds |
| Jun 3 – 9, 2024 | $402.43M | 26 |
| May 27 – June 2, 2024 | $351.10M | 37 |
This week, the crypto sector has so far raised nearly $402.43M, higher than the previous year’s value of $351.10M.
8.2. Most Active Investors This Week
Hashkey Capital, Animoca Brands, The Spartan Group, Foresight Ventures, and GSR are the most active investors this week, based on the number of deals.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:44 AM (GMT-4)]
| Investors (or Fund’s Name) | Deals (June 2 – 8, 2024) | Investments | Lead Investments |
| Hashkey Capital | 4 | 4 | 0 |
| Animoca Brands | 4 | 2 | 2 |
| The Spartan Group | 3 | 3 | 0 |
| Foresight Ventures | 3 | 3 | 0 |
| GSR | 3 | 3 | 0 |
Hashkey Capital and Animoca Brands mark 4 deals each. Hashkey Capital has no lead investments, but Animoca Brands has two. The Spartan Group, Foresight Ventures and GSR report 3 deals each, but none register a lead investment.
8.3. Crypto Fundraising By Category
Blockchain Infrastructure, Blockchain Services, CeFi, Chain, DeFi, GameFi, Meme, Social and Stablecoins are the categories raised funds this week.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:44 AM (GMT-4)]
| Category | Number of Fundraising Rounds (June 3 – 9, 24) | Funds Raised |
| Blockchain Infrastructure | 5 | $21.00M |
| Blockchain Services | 2 | $12.00M |
| CeFi | 2 | $218.75M |
| Chain | 2 | $58.00M |
| DeFi | 2 | $35.00M |
| GameFi | 8 | $35.08M |
| Meme | 1 | $5.00M |
| Social | 3 | $9.60M |
| Stablecoin | 1 | $8.00M |
The category of CeFi records the highest fund raised of $218.75M. Chain, GameFi and DeFi follow with $58.00M, $35.08M and $35.00M. Blockchain Infrastructure registers $21.00M. Conversely, the category of Meme marks the lowest fund raised of $5.00M.
8.4. Top Crypto Investment Locations
Apart from the undisclosed category, the UK, the US, Singapore, Estonia and the UAE are the top crypto investment locations, on the basis of funds raised.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:44 AM (GMT-4)]
| Investment Location | Funds Raised (June 1 – 8, 2024) | Funds Raised % | Number of Rounds |
| The United Kingdom | $200.00M | 49% | 1 |
| Undisclosed | $138.38M | 34% | 14 |
| The United States | $32.00M | 8% | 6 |
| Singapore | $28.75M | 7% | 2 |
| Estonia | $3.30M | 1% | 1 |
| The UAE | $3.00M | 1% | 2 |
The United Kingdom reports the highest fund raised of $200.00M. The undisclosed category follows with an overwhelming $138.38M fund raised. The US and Singapore showcases $32.00M and $28.75M, respectively. Estonia records $3.30M and the UAE $3.00M.
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.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:44 AM (GMT-4)]
| Crypto VC Jurisdiction | Number of Projects (June 1 – 8, 2024) |
| The USA | 47 |
| Singapore | 15 |
| The UK | 8 |
| Seychelles | 5 |
| South Korea | 4 |
| China | 3 |
The USA shows the highest number of projects of 47. Singapore follows with 15 projects. The UK marks eight projects and Seychelles displays 5 projects. South Korea and China record 4 and 3, respectively.
9. Web 3, Blockchain & Crypto Hack Updates
The total value hacked is $8.21B. The total value hacked in DeFi is $5.97B, and total value hacked in Bridges is $2.83 billion.
[Data Collected (Day, Date & Time): Friday, 7th June, 2024, 2:44 AM (GMT-4)]
| Total Value Hacked | $8.21B
Total Value Hacked in DeFi$5.97BTotal Value Hacked in Bridges $2.83B |
| Project Name | Amount Lost | Date |
| Velocore | $6.8M | 2 June, 2024 |
Velocore, the first hack registered this month, was reported on 2nd June, 2024. Nearly $6.8 million was lost in this hack.
Endnote
This report provides a comprehensive analysis of 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.
Also Discover the price prediction of your favorite cryptocurrency. We include a range of Price Predictions made by various crypto experts.
Disclosure: The views and opinions expressed here are solely those of the author and do not represent the views and opinions of the crypto.news editorial team.
Access to clean water is a basic human need, yet billions of people around the world still struggle to get it. According to the World Health Organization, over 2 billion people live in countries suffering from severe water stress, and this number is expected to continue to grow due to climate change and population growth.
Traditional water management systems have struggled to address these challenges, often hampered by inefficiencies, lack of transparency, and misallocation of resources. Blockchain technology offers a promising solution to these challenges, providing equitable access and sustainable use of this crucial resource.
The current state of water management
Water management today faces several pressing issues. Inefficiencies in water supply, distribution, and use, coupled with a lack of real-time monitoring, often result in resource waste and misallocation. Many water sources fail to realize their full potential due to infrastructure and financing shortfalls. For example, the Environmental Protection Agency (EPA) report indicated that the United States would need to invest $625 billion over the next 20 years to repair, maintain and improve the country’s drinking water infrastructure due to aging pipes and other infrastructure problems. Additionally, in the United States alone, household leaks can to waste nearly 900 billion gallons of water per year nationwide. This is equivalent to the annual domestic water consumption of nearly 11 million homes.
Furthermore, corruption and mismanagement of water resources can cause unequal distribution, with disadvantaged communities often bearing the brunt of water scarcity. For example, South Africa is struggling with myriad challenges to its water security: drought, inadequate water conservation measures, outdated infrastructure, and unequal access to water resources. The country faces significant water scarcity, with demand expected to outstrip supply by 2030, creating a projected gap of 17%.
Furthermore, the global water industry is highly monopolized, with a few key players controlling a significant share of the market. These companies exert substantial influence over the water supply chain, often prioritizing profit over equitable distribution and environmental responsibility. This concentration of power can lead to inflated prices and limited access for vulnerable populations. The global bottled water market alone is projected to reach $509.18 billion by 2030, with these large companies capturing a significant share of revenue. This monopolization exacerbates existing inequalities in water access and highlights the need for more decentralized and community-driven water management solutions.
Source: Grand View Search
The potential of blockchain in water management
Blockchain technology can address these issues by providing a transparent, secure, and decentralized platform for water resource management. This approach offers several advantages:
- Transparency and accountability. Blockchain’s immutable ledger ensures that all transactions and data entries are transparent and cannot be changed once recorded. This transparency can reduce corruption and ensure that water resources are allocated fairly and efficiently. For example, blockchain can be used to track water usage from source to end user, providing a clear record of how water is distributed and used. This level of transparency can help hold authorities accountable and manage water resources sustainably.
- Efficient resource management. Blockchain can facilitate the creation of smart contracts, which are self-executing contracts with the terms of the agreement written directly into the code. These contracts can automate water distribution based on real-time data, directing water to where it is needed most. For example, smart contracts could be used to manage urban water supply systems, automatically adjusting water distribution based on real-time consumption patterns and demand. This can help optimize water use, reduce waste, and ensure that households and businesses receive the right amount of water at the right time.
In Dubai, the Dubai Electricity and Water Authority (DEWA) has implemented a blockchain-based smart water network initiative as part of its broader smart city strategy. This project integrates blockchain technology with IoT sensors to monitor water usage in real time, manage distribution, and detect leaks. The decentralized ledger ensures data integrity and transparency, enabling more efficient water management and reduced waste. DEWA’s initiative aims to improve sustainability and resource management in the rapidly growing city, highlighting the potential of blockchain to support urban water management and conservation efforts.
Community participation and ownership
Through blockchain, individuals can directly control and monetize their access to water resources, eliminating the need for third-party intermediaries. This direct control model allows local communities to make collective and transparent decisions about their water use. By managing their water directly from the source, communities can tailor water management practices to their specific needs, promoting equitable distribution and encouraging a sense of accountability and stewardship.
Additionally, future models could allow people to monetize their access to water through web3 technologies. For example, a community-to-business (C2B) model could allow people to sell water directly to companies. In this model, people do not have to own the water directly, but can profit by staking their tokens during event sales pools. This approach not only supports sustainable water management, but also creates economic opportunities for community members. Additionally, a “Burn to Secure” protocol can be used to provide water allocation rights. This protocol provides a true sense of water security and financial opportunity by allowing people to redeem their rights. This system not only secures future water allocations, but also increases token scarcity and value.
Additionally, a pure sense of investment is achieved through investments in water sources. This leads to potential financial returns and dividends by addressing the inefficiencies in water supply mentioned above. By investing to finance infrastructure projects, such as building factories and improving distribution systems, more water can be brought to communities, creating additional economic opportunities.
Monetizing water access through the C2B model, the “Burn to Secure” protocol, and investments in water sources all generate economic benefits for the community, promoting a more equitable and efficient water management system.
Overcoming challenges
While blockchain technology has the potential to improve water management, there are challenges to its adoption. The complexity of blockchain systems and the need for technological infrastructure can be barriers, especially in developing regions. Additionally, there are concerns about the significant energy consumption of blockchain networks. However, technological advances and the development of more energy-efficient blockchain solutions are helping to alleviate these concerns. Additionally, education and capacity building are key to ensuring stakeholders understand how to effectively use blockchain technology. Governments, NGOs, and private sector partners need to work together to provide training and support to communities and water management authorities.
Blockchain technology offers a practical and effective means to improve water management. In addition to addressing inefficiencies, blockchain empowers communities, promotes sustainable practices, and opens up new economic opportunities through models like community-to-business (C2B). As we face the growing challenges of climate change and population growth, blockchain is not only an innovative solution, but represents a fundamental shift in the way we manage and value water resources. Adopting blockchain in water management is essential to creating a sustainable and equitable future by changing the way we interact with and protect our most vital resource.
Jean-Hugues Gavarini
Jean-Hugues Gavarini is the CEO and co-founder of LAKE (LAK3), a real-world asset company leveraging blockchain technology to decentralize access to the global water economy. LAKE aims to ensure access to clean water for all, protect water resources, and deliver water to those in need through innovative technologies. Jean-Hugues has a diverse career spanning the luxury, fashion, and footwear industries. His career path includes notable successes at Mellow Yellow, Cremieux, and Tod’s. Raised between Silicon Valley and the French Alps, Jean-Hugues has always been immersed in technology and freshwater resources. In 2018, Jean became the CEO of Lanikea Waters, a water solutions entity based in the French Alps. In 2019, the concept of LAKE was born, embodying his commitment to innovation and sustainability.
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Nigeria is keeping an eye on a new native blockchain network to protect the country’s data sovereignty.
According to local media, a team from the University of Hertfordshire has proposed the new blockchain, Nigeriato the National Information Technology Development Agency (NITDA).
Chanu Kuppuswamy, who leads the team, argued that relying on blockchain networks whose developers are located in other regions poses national security risks to the Nigerian government. He further said that Nigerium would allow the West African nation to customize the network to meet specific needs, while also promoting data sovereignty.
In his presentation, Chanu cited the recent migration of Ethereum to test of participation (PoS) consensus as an instance in which no Nigerians were involved but whose impact is far-reaching.
“Developing an indigenous blockchain like Nigerium is a significant step towards achieving data sovereignty and promoting trust in digital transactions in Nigeria,” he said.
While receiving the proposals in Abuja, NITDA’s Kashifu Abdullahi acknowledged the benefits a local blockchain would bring to Nigeria, including increased security of citizens’ data.
However, a NITDA spokesperson later clarified that Nigerium is still at the proposal stage and that the government has not yet decided whether to proceed or not.
“The committee is still discussing the possibility with stakeholders. Even if a decision is finally made, there is no guarantee that the name will be Nigerium,” the spokesperson told the media.
Nigerium’s reception in the country has been mixed. Some, like financial analyst Olumide Adesina, To say the network is “dead on arrival”. He believes the Nigerian government’s poor record in following through on its big technology plans will claim another victim. He pointed to the eNaira as a missed opportunity whose chances of success were much higher than those of Nigerium.
Others welcomed the proposal. Chimezie Chuta, who chairs the renewed The Nigerian Blockchain Policy Committee is “extremely optimistic“that Nigerium will be more successful than eNaira.
Speaking to a local news agency, Chuta stressed that eNaira failed because the central bank initiated the project on its own, without involving any stakeholders.
“They just cooked it and expected everyone to like it. [With Nigerium]there will be a lot of collaboration,” he said.
Registration of property title, digital identity and Certificate Verification are among the use cases that Nigerium is expected to initially target. However, Nigeria has already made progress in some of these fields through public blockchains.
SPPG, a leading school in governance and politics, announced in May the country’s first blockchain certificate verification system. Built on the The BSV BlockchainIt was developed in collaboration with the blockchain data recording company VX Technologies and local lender Sterling Bank.
Watch: The Future Has Already Arrived in Nigeria
Italian: https://www.youtube.com/watch?v=M40GXUUauLU width=”560″ height=”315″ frameborder=”0″ allowfullscreen=”allowfullscreen”>
New to blockchain? Check out CoinGeek Blockchain for Beginners section, the definitive guide to learn more about blockchain technology.
A Japanese fintech developer will build a blockchain-based bond market gateway for Palau, aiming to launch a trial in 2024 and a full launch the following year.
Japanese fintech developer Suramitsubest known for developing a central bank digital currency (CBDC) for Cambodia, is intended to build a Blockchain-gateway to the bond market based on the Pacific island nation of Palau, Nikkei He learned.
Soramitsu won the contract and plans to introduce the market on a trial basis in fiscal 2024, with a full launch scheduled for the following year, allowing the Palauan government to issue bonds to individual investors and efficiently manage principal and interest payments, according to the report.
The total cost of the project is estimated at several hundred million yen ($1.2 million to $5.6 million), less than half the cost of a non-blockchain alternative, people familiar with the matter said. The project has reportedly received support from Japan’s Ministry of Economy, Trade and Industry, with Japan’s foreign and finance ministries providing strategic and management advice on the project.
Soramitsu’s successful development of Cambodia’s CBDC in 2020 has boosted its reputation, with the digital currency’s popularity soaring, with over 10 million accounts opened by December 2023, representing 60% of Cambodia’s population. Following this, Cambodia’s central bank governor Chea Serey indicated intends to expand the reach of its CBDC internationally, particularly through collaboration with UnionPay International, the Chinese card payment service, and other global partners.
While Soramitsu’s work in Cambodia has been well received, the long-term popularity of CBDCs remains to be seen. As of late June, crypto.news reported a sharp drop in activity in India’s digital currency, the e-rupee, after local banks stopped artificially inflating its values.
According to people familiar with the matter, the Reserve Bank of India managed to hit the 1 million retail transaction milestone last December only after the metrics were artificially infiltrated by local banks, which offered incentives to retail users and paid a portion of the bank’s employees’ salaries using the digital currency.
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