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DigitalX Weekly Crypto Update: Market Trends and Analysis
You are Reading
DigitalX Weekly Crypto Update: Market Trends and Analysis
Market Commentary
Bitcoin has seen notable volatility this week, hitting a peak of US$69,470 before levelling off to where it started earlier in the week. Meanwhile, US spot Bitcoin ETFs have reached record-breaking asset values, following a six-day streak of inflows. Ten months after their launch, these funds now boast total net inflows exceeding US$20 billion—a milestone that took gold ETFs about 5 years to reach, according to Bloomberg’s senior ETF analyst, Eric Balchunas.
Vitalik Buterin, co-founder of Ethereum, outlined several potential future upgrades for the blockchain in a series of recent blog posts this week. Among his proposals, he suggested lowering the staking requirement from 32 ETH to just 1 ETH, aiming to make Ethereum more accessible. He also supported the concept of “single-slot finality,” which could cut transaction finalisation times to 12 seconds. Additionally, Buterin reiterated his commitment to scaling Ethereum to 100,000 transactions per second through “The Surge,” which combines sharding with Layer 2 solutions. He further proposed “the Verge” focus on making a fully verifying node more computationally affordable and achievable for a critical mass of people. The Surge and the Verge are part of the network’s roadmap towards ‘Ethereum 2.0’ which includes “surge,” “scourge,” “verge,” “purge,” and “splurge” phases.
BlackRock pitches to major exchanges to use its BUIDL token for derivatives trading. According to Bloomberg, BlackRock wants cryptocurrency exchanges such as Binance, OKX and Deribit to use BUIDL as collateral for derivatives trades, enabling the token to become more widely accepted as collateral for crypto-related products. With over half a billion in assets under management into U.S. T-Bills and repo agreements, the BUIDL fund is positioning itself as a trailblazer in establishing stable crypto collateral, with two of the biggest crypto prime brokers – FalconX and Hidden Road – already allowing the use of the BUIDL token as collateral among their clients, including hedge funds.
CRYPTO TOP 20 7 DAY PRICE CHANGE
*All figures throughout are in USD unless otherwise specified
Market Updates
The Shift List
Tinkering with Tokenisation
Macro and Regulatory Environment
About DigitalX
DigitalX Ltd (ASX:DCC) is a leading ASX-Listed Bitcoin and digital asset funds management business. The Company has a 9 year track record mining Bitcoin, blockchain and smart contract development. DigitalX Asset Management is the investment manager of digital asset investment products that provide qualified investors with highly secure and streamlined access to digital asset exposure. To learn more contact the team at [email protected] or visit our website https://digitalx.fund/.
Disclaimer:
The information in this document is prepared by DigitalX Asset Management Pty Ltd (ACN 629 653 121) (DigitalX).
DigitalX is a corporate authorised representative (CAR) (CAR No. 1270748) of Boutique Capital Pty Ltd (AFSL 508011) and True Oak Investments Ltd (AFSL 238184). Boutique Capital is the Trustee of the DigitalX Fund and the DigitalX Bitcoin Fund. True Oak Investments is the Trustee of the DigitalX Real World Asset Tokenisation Fund (RWAx). All three funds are open to wholesale investors only.
DigitalX is also a corporate authorised representative (CAR) of K2 Asset Management Ltd (ABN 95 085 445 094 AFSL 244 393) (K2), a wholly owned subsidiary of K2 Asset Management Holdings Ltd (ABN 59 124 636 782). K2 is the Responsible Entity and Issuer of the DigitalX Bitcoin ETF (ASX: BTXX) (ARSN 650 945 216) which is open to retail investors. Offers to invest in the DigitalX Bitcoin ETF (BTXX) will only be made in the product disclosure statement (PDS) and this material is not intended to substitute the PDS which outlines the risks involved and other relevant information. You should also consider the Target Market Determination (TMD) issued when ascertaining if the product is appropriate for your needs. A PDS & TMD for BTXX can be obtained at https://www.digitalx.com/funds/bitcoin-etf/. You should consider the PDS & TMD before making a decision to acquire an interest in BTXX.
The information herein is presented in summary form and is therefore subject to qualification and further explanation. The information in this document is not intended to be relied upon as advice to investors or potential investors and has been prepared without taking into account personal investment objectives, financial circumstances or particular needs. Recipients of this document are advised to consult their own professional advisers about legal, tax, financial or other matters relevant to the suitability of this information. Past performance is not indicative of future performance.
