3.15.24 TL;DR: Bitcoin Hits ATHs and Dencun Goes Live but Markets Close Down on The Week
Runa Digital Assets
Bridging the gap from traditional investment management to Digital Assets.
Despite starting strong with Bitcoin making yet another ATH on Thursday, crypto markets closed down on the week. Here are some notable token performers from a volatile week in digital assets:
ETH (-5.1%): This week Ethereum deployed the long awaited Dencun upgrade. Dencun greatly reduces data storage fees paid by Ethereum L2s, allowing them to pass on lower transaction fees to their users. After the upgrade was implemented data storage costs dropped ~90%. It remains to be seen if this new fee paradigm on L2s will enable entirely new use cases which were impossible prior to Dencun.
TON (35.8%): Toncoin, the crypto project founded by the same group behind social media platform Telegram Messenger , rallied this week after Telegram’s Founder and CEO announced Telegram’s intent to IPO. Telegram has >500M monthly active users. A platform of this size leaning into using crypto rails could be a massive win for the industry at large.?
JUP (49.7%): Jupiter, the leading DEX aggregator on Solana, has continued to perform well in terms of both trading volumes and price action. Jupiter has become the trading destination of choice for most users on Solana and benefits greatly from memecoin activity, which continues to grow on the blockchain, leading Jupiter to make new highs in total trading volume over the past two weeks.?
New Runa Content:
Watch Now - Runa’s Platform Wars Webinar: This week Runa’s Max Williams and Alex Botte, CFA, CAIA were joined by FalconX ’s Head of Research David Lawant to discuss the ongoing war between smart contract platforms. You can watch a recording of their discussion using the link below.
领英推荐
Alex Joins CAIA Check-In on Crypto: On March 27th Alex Botte will be joining a CAIA Association virtual chapter meeting on which she and other crypto market professionals will provide a “check in” on the state of crypto. Use the link below to register.
Runa Featured in Crypto Funds Watch: This week Runa was highlighted in Crypto Funds Watch, a newsletter highlighting some of the top investment managers in the industry. Click below to read this month’s edition!
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