Weekly Market Performance – Week 20

• Bitcoin (BTC) declined by 0.9%
• Ethereum (ETH) dropped by 4.9%
• Solana (SOL) fell by 4.6%
• In contrast, the NASDAQ index rose by 7.2%, closing at approximately $19,211

Source: altFINS

Year-to-Date (YTD) Performance:

• BTC: up 10.3%
• ETH: down 28.3%
• SOL: down 12.6%
• NASDAQ: down 0.5%

Explore more with the altFINS Crypto Screener

Market Sentiment and Capitalization

• Market sentiment stands at 71.00, indicating Greed
• Total crypto market capitalization: $3.27 trillion
• Bitcoin dominance: 62.9%
• Ethereum dominance: 8.8%

Weekly Price Performance – Top Coins

Top gainers:

LBTC +5.5%
BGB +4.9%
HYPE +3.8%

Top losers:

ARB -17.3%
TIA -20.4%
PIP -35.1%

On-Chain Data Leaders

By Total Revenue (fees paid by users):

• Tron (TRX)
• Jito (JTO)
• Uniswap (UNI)

By Total Value Locked (TVL):

• Lido (LDO)
• Aave (AAVE)
• EigenLayer (EIGEN)

TVL indicates user trust and adoption by showing how much value is deposited into smart contracts.

Revenue Snapshot – Recent Figures

• Bitcoin: $0.7 million
• Ethereum: $0.7 million
• Solana: $1.7 million

Revenue remains low across major blockchains due to reduced activity. Ethereum has not recovered to early 2024 levels, and Solana’s memecoin-driven activity has slowed. Bitcoin transaction revenue is flat.

Macro Highlights

• April Headline CPI (U.S.): 2.3% (lower than expected)
• Core CPI: 2.8% (unchanged)
• Retail sales: 0.1%
• Headline PPI: 2.4% vs. 3.4% previous
• Core PPI: 2.9% vs. 3.5% previous

Market Predictions

• 92% probability the Fed holds rates steady in June (4.25%–4.50%)
• 63% chance of no change in July
• 52% probability of a 0.25% rate cut in September (source: CME Group)

What to Watch This Week

• Flash U.S. S&P Services PMI: 50.8% expected
• Flash U.S. Manufacturing PMI: 49.8% expected (contraction)
• May CPI (Cleveland Fed Nowcast): Headline 2.38%, Core 2.84%

Crypto Developments

• Bitcoin is testing the $106,000 resistance level, with potential to reach $116,000
• Abu Dhabi’s Mubadala Investment Company increased its holdings in BlackRock’s Bitcoin ETF to $512 million
• MRKT, a TON-based NFT marketplace, launched as a Telegram mini app
• World Liberty Financial responded to Senate inquiries into its USD1 stablecoin, positioning it as a tool for financial inclusion in underserved regions

Listen to the full summary on the altFINS Podcast
Read the full weekly report here.