Market Update Week 51 2023
The premium weekly crypto market update to grow your portfolio
TLDR: BTC and ETH continues to climb up. Bitcoin dominance stays stagnant. The hot coin we look at this week is ARCH.
Latest & Greatest 📰
Before we dive into both current and new airdrops, make sure to check the latest and greatest news and market update from Coin Club:
BTC & ETH Market Update 📈
Prices are up on the weekly, with BTC up 4.5% and ETH 5.0%.
Bitcoin dominance started to decline this week, peaking at 50.6% but ending the week at 48.7%. It’s starting to look more and more bullish both for mid and low cap coins, where capital usually flows to when Bitcoin dominance has peaked and starts to decrease.
The Bitcoin halving is coming up end of March or beginning of April 2024. If history is any guidance we will continue to see BTC dominance climb up until after Bitcoin halving, whereafter people start to look for higher return moving further on the risk curve entering altcoins. This typically starts with ETH, and then on to mid- and low cap coins. Other coins being moved into are typically “ETH killers” like SOL, AVAX and other other L1s. Yet ETH is still the king amongst altcoins.
A natural result of BTC dominance dropping at the end of the week is the BTC/ETH ratio also increasing further sitting at 19.1 ETH per BTC, underlining that BTC continues to be king in crypto, but alts are gaining momentum.
For general news and updates on Bitcoin and Ethereum, make sure to subscribe to Coin Club’s free weekly newsletter.
Hot Coin: ARCH 🪙
In this week’s newsletter we dive into Archway’s token with the ticker: $ARCH.
The price action and volume is starting to look juicy:
What is the project about?
Archway's mission is to create a developer-first ecosystem where architects can design and manifest their dApps according to their terms, as Griffin Anderson stated in a Cosmos Club X space.
One of the most prominent standout features is the ability for developers to define the fees associated with interactions within their dApps. This level of freedom and flexibility empowers developers to adapt their fee structures to various use cases and operational requirements.
You can read more about what Archway is building in the article below:
Why is the project exciting now?
There are three main reasons why we feature this project in this week’s newsletter:
TVL vs Price