$BTC 24 Hour High $47,881.41
$BTC 24 Hour Low $46,807.59
$ETH 24 Hour High $3,836.16
$ETH 24 Hour Low $3,727.36
Happy Monday from HKbitEX! Hope you had a great holiday! Highlights from the week:
- $BTC ended with a 5.4% decline and $ ETH at an 8.8% loss in the last week of 2021; The start of the 2022 also brought losses for the crypto market with Bitcoin sliding to $47K and Ethereum dropping to $3,600
- ProShares filed application with SEC for a Metaverse ETF
- The largest Russian bank Sberbank launches first blackchin ETF in Russia
The $BTC and $ETH market
December was a tough month for cryptocurrency market- $BTC ended with a 5.4% decline and retracing back below $48K in the last week of 2021. $BTC faced the largest options expiry on Friday, 31 of December. Since then, its price pump above $48,500. However, the landscape changed quickly, BTC reversed its trajectory and dumped by $3K. It starts in red for the crypto market in the beginning of 2022. $BTC now stands around $47K and its market capitalisation is now at just under $900 billion. At the time of writing, $BTC is trading at $46,957.12 with $50K as its next major resistance level and $45K as its next key support level.
$ETH wise, the second largest cryptocurrency traded at an 8.8% loss in the last week of 2021 and has managed to hold above the key support at $3,600. Decent volume recorded when $ETH has tested the key support level of $3,600. However, the price is struggling to move higher, and volume vanished as it moved up, that shows that the bears are in control of the market. At the time of writing, $ETH is trading at $3,807.33 with $4K as its next major resistance level and $3,600 as its next key support level.
According to a filling with U.S. Securities and Exchange Commission last Wednesday (29/12), ProShares will launch an exchange-traded fund (ETF) focused on the metaverse. This Metaverse Theme ETF will track the Solactive Metaverse Them index including tech giants including Apple, Microsoft, Intel, Mata Platforms and Nvidia.
The largest Russian bank Sberbank (MCX: SBER) announced last Thursday (30/12) that it will launch the first blockchain-focused exchange-traded fund (ETF). This Sberbank Blockchain Economy ETF will be traded on the Russian stock market under the ticker “SBBE”, tracking crypto trading firms asset and mining companies including Coinbase, Galaxy Digital and Digindex.
Alts & DeFi
Alts and DeFi wise, Defi TVL (Ethereum network) decreases to $100.85B at the time of writing. For some well-known tokens, over the week, Yearn Finance ($YFI) recorded 17.03% decline, Aave ($AAVE) is +23.61%, Compound ($COMP) is -8.39%, Uniswap ($UNI) is -2.42%, Polkadot ($DOT) is -7.07%, Chainlink ($LINK) is -4.65%, Cardano ($ADA) is -12.28%, Polygon ($MATIC) is -11.88%, Solana ($SOL) is +-11.86% and Avalanche ($AVAX) is -2.99%.