Steaker Monthly Report (2022/03/11–2022/04/10)

4月 11, 2022

Market Recap:

After the multiple-month bottom formation, crypto bulls successfully set a price floor. Last month, we saw a strong rebound in crypto markets. The strong uptick was thanks to institutional investors, large public buyers, as well as retail investors. Notably, major public purchasers, such as MicroStrategy [MSTR:US] and the Terra giant Luna Foundation Guard (LFG) continued to absorb sell pressure and push the price to break out of the consolidation range. MicroStrategy announced on April 5 that it bought another 4,167 BTC for around $190.5mm, with holding a total of 129,218 BTC. Besides, based on the data from Glass Node, the BTC balance of the LFG wallet address stood at 35,767 BTC on April 6, a net addition of 26,464 BTC (~$1.2bn.)

Last month, BTC prices traded between a monthly low of $37,555 and a new local high of $48,189, while ETH prices traded between a monthly low of $2,493 and a new local high of $3,580.

According to CoinGecko, the top 100 DeFi tokens’ market cap increased from $117.3bn on March 10 to $130.66bn at the time of writing, up 11.37% MoM. The DeFi dominance in the crypto space currently sits at 6.3%, a net increase of 0.1 ppts from the previous month.

According to DeFi Llama, the total value locked (TVL) also surged from $203.18bn to the current level of $221.45bn, increasing 8.99% MoM. Around 7.8mm ETH and 177.2k BTC are locked in DeFi respectively at the time of writing, citing data from DeFi Pulse.

Notably, we saw significant rebounds in NFT and GameFi markets. Citing the data on CoinGecko, the NFT tokens and GameFi tokens market cap skyrocketed by 20.53% MoM and 24.21% MoM to $38.58bn and $19.99bn, respectively.

Top 100 Coins Price Index:

Top 3 price gainers: GMT (+1929.36%), APE (+998.72%), ZIL (+193.40%)

Top 3 price losers: ANC (-23.63%), KDA(-17.52%), STX (-12.66%)

Benchmark: BTC (+9.86%)

DeFi Tokens Price Index:

Top 3 price gainers: BSW (+328.02%), MPL (+211.58%), OGN (+119.03%)

Top 3 price losers: MIR (-16.39%), STK (-12.66%), TLOS (-9.09%)

Benchmark: Top 100 DeFi Tokens’ Market Cap (+11.37%)

NFT Tokens Price Index:

Top 3 price gainers: APE (+998.72%), BSW (+328.02%), ALI (+142.83%)

Top 3 price losers: GXT (-58.14%), XWG (-45.83%), DFA (-39.08%)

Benchmark: NFT Tokens’ Market Cap (+20.53%)

Metaverse/GameFi Tokens Price Index:

Top 3 price gainers: APE (+998.72%), MOOV (+349.07%), BSW (+328.02%)

Top 3 price losers: ICE (-49.96%), DPS (-40.33%), HEC (-30.33%)

Benchmark: GameFi Tokens’ Market Cap (+24.21%)

Top Industry News

  1. Terra LFG outdoes MicroStrategy with 5K BTC buy after Bitcoin price dips under $45K
  2. MicroStrategy Buys $191M Worth of Bitcoin
  3. The Fed is ready to move faster on interest rates
  4. Boba Network raises $45 million at a $1.5 billion valuation
  5. Binance Labs Makes Strategic Investment in STEPN
  6. Near Protocol Raises $350M
  7. Waves’ USDN Stablecoin Loses Peg, Drops 15% Amid Manipulation Scare
  8. Solana NFTs Can Now Be Traded on OpenSea