Weekly Wrap: 10th - 17th April

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The biggest news this week is that the long-awaited Shanghai upgrade went live on Ethereum allowing stakers to withdraw their ETH from the staking contract.

After an initial surge of withdrawal requests (6174 within the first 24 hours), the numbers have started to settle and there have actually been more deposits than withdrawals within the last 24 hours.

At this stage, things are looking bullish for long term staking on Ethereum.

If you're interested in tracking these metrics you should check out this Nansen staking dashboard.

- @nuconomist

Crypto Market Cap: 1.31 Trillion Dollars 🔺+6.5% (Was 1.23 T)

Bitcoin Dominance: 43.9% 🔻-1.30% (Was 44.47%)

Ethereum Dominance: 18.98% 🔺+4.45% (Was 18.17%)

[New Metric] Other Crypto (excl. BTC & ETH): 37.12%

[New Metric] NFT Market Cap: 8.4 Million ETH ($17.57 Billion Dollars) 🔻-2.7%

30 Day NFT Volume (ETH): 798k 🔻-7.85% (Was 866k)

Comments:

While the crypto market cap is on the rise, Bitcoin dominance has fallen and Ethereum is on the rise. This shows the recent gains on Bitcoin, following on to ETH and the rest of the crypto market.

Top Collections by ETH Volume (7 Days)

1. Wrapped Cryptopunks (28,184 ETH)

2. Bored Ape Yacht Club (23,383 ETH)

3. Mutant Ape Yacht Club (13,641 ETH)

4. Azuki (12,107 ETH)

5. Bored Ape Kennel Club (5,042 ETH)

Comments: The usual suspects here, and still a lot of Blur trading back and forth farming for their season two airdrop.

Most Profitable Collections by ETH (7 Days)

1. HV-MTL (1224 ETH PnL)

2. Azuki (1210 ETH PnL)

3. Otherside Koda (940 ETH PnL)

4. Otherdeed Expanded (706 ETH PnL)

5. Outlaws (575 ETH PnL)

Comments: Yuga assets still taking the top spots here with position 1, 3 and 4. Azuki also made gains this week as other "blue chip" contendors traded down. And Outlaws took spot 5 as the degen mint of the week with a shot at taking the next meta for trading.

Least Profitable Collections by ETH (7 Days)

1. Bored Ape Yacht Club (-331 ETH PnL)

2. CloneX (-238 ETH PnL)

3. Doodles (-105 ETH PnL)

4. Nakamigos (-68 ETH PnL)

5. Outlaws (-52 ETH PnL)

Comments: Some well known traders took big losses in BAYC this week giving it a surprise appearance at the top of this list. According to Twitter speculation this is due to IRL situations and unexpected tax bills from airdrops. Meanwhile, Clone X and Doodles continue their drift down with public sentiment low due to recent actions and general bear market blues. Nakamigos has been Degen flavour of the week recently and appears to be falling back down after the launch hype fades. Outlaws is this weeks flavour of the week and is going through a post-reveal dip while the market attempts to assign a fair value for the collection.

NFT.NYC was calm with side events bring the main draw - CoinDesk

Ethereum Shanghai upgrade goes live, enabling Staking withdrawals - Decrypt

Twitter enables Bitcoin investing for people searching $BTC - Bitcoin Magazine

Comments: This is a great thread digging down into the relationship between with the crypto market (especially ETH) and NFTs.

26th-28th April - Annual Consensus conference hosted by CoinDesk

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