Industry review, Market news and BendDAO crisis

 ndustry review, Market news, and BendDAO crisis

Hey-hey readers, if you’re looking to keep up with the latest Web 3 news, this is the article for you. Keep reading to learn more about the industry’s current state, the latest market news, an in-depth analysis of the BendDAO liquidity crisis, and how their team got themselves out of it.


Industry review

Cryptocurrency

Good news for everyone involved! If we look at the overall market data, we can see that capitalization has hit US$1.041 trillion, 7D changes are at -6.57%, and the daily volume of trades is $US63.76 billion. The bitcoin market value ratio has risen by 39.6%, while Ethereum has only risen by 19.8%. 


Rank Name 7d

1 Cult DAO -0.09%

2 Terra Classic 37.65%

3 Ethereum -7.24%

4 Shiba Inu 5.12%

5 Bitcoin -5.40%

6 Bitgert 32.05%

7 Cardano -5.32%

8 Santos FC Fan Token -27.10%

9 Baby Doge Coin -2.64%

10 Polyge -1.44%

Table 1. Last week’s top currencies

Source: CoinMarketCap


The global cryptocurrency market is on a steady incline, currently valued at US$1.040 trillion, and slowly but surely coming out of the decline we saw last week. Bitcoin, on the other hand, has decreased by 5% in comparison to its previous week’s value. Ethereum is seeing much of the same and has also seen a 7% drop in price. Bitgert keeps our hopes high as they remain on an uptrend, rising 32% this week.


NFT

Rank Name Volume 7d Est. Market Cap

1 ABC + Virtual Exhibition 2,275,458.12 SOL 310.06 SOL

2 Bored Ape Yacht Club 5,283.6 ETH 788,596.85 ETH

3 Pudgy Penguins 3,072.64 ETH 41,190.97 ETH

4 Mutant Ape Yacht Club 3,013.31 ETH 280,065.07 ETH

5 Otherdeed for Otherside 2,655.3 ETH 361,641.4 ETH

6 Azuki 1,346,37 ETH 86,305.49 ETH

7 Clone X 1,042.18 ETH 143,103.44 ETH

8 Women Ape Yacht Club 1,042.03 ETH 4,377.83 ETH

9 Crypto Punks 1,033.58 ETH 322,961.45 ETH

10 Moonbirds 985.5 ETH 140,785.87 ETH

Table 2. NFT Collections Listed By Sales Volume

Source: CoinMarketCap


The NFT market saw a huge drop as it fell by 74% which caused the market cap to decrease to US$2,186,948,165. On the other hand, sales volumes drastically increased by 139%, bringing the market to US$134,274,130. A new player has entered the top 10 NFT brands, ABC+, and it’s doing well for itself. All of the top 10 NFTs that are independent of the global market has seen no changes in prices.


Read More:- Industry review, Market news and BendDAO crisis

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