3-Min. Weekly Market Sentiment Wrap-Up — May 1st

  • Bitcoin’s hashrate hitting new all-time highs
  • Number of new addresses growing
  • Several government looking to enable crypto payments as legal tender
  • VC funds raising excess capital to be poured into crypto projects
  • Banks adding resources to experimental cryptocurrencies teams
  • Banks adding real capabilities for trading crypto assets
  • An abundance of crypto-linked investment products and a long list of applications for ETFs and other instruments.
  • Companies holding crypto on their balance sheet
  • More platforms looking to enable user transfers of cryptocurrencies
  • The inexorable rise of Web3/DeFi protocols that offer real value to users (gamefi, socialfi, access to yields, etc.)

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