Yellow Capital Blog/Weekly Crypto Digest/Weekly Crypto Digest for October 02 - 08, 2023.

Weekly Crypto Digest for October 02 - 08, 2023.

Monday, October 09, 2023

Bitcoin price tested the $28,000 level, Binance spot trading share is declining for the 7th month in a row, Ethereum-ETF futures volumes are low, FTX court continues, and more news.

Bitcoin price tested the $28,000 level

Bitcoin price tested the $28'000 level

On Monday, October 2, Bitcoin quotes were $28,000. On the same day, BTC tested the level of $28,500 but then fell below $28,000.
On Thursday, October 5, the asset crossed the psychological threshold for the second time in a week but again failed to maintain it.
At the time of writing, Bitcoin is trading at $27,800.
Most of the top 10 digital assets by capitalization ended the week in the red zone. Ethereum lost the most (-3.9%).
The total capitalization of the cryptocurrency market is $1.13 trillion. Bitcoin dominance index - 51%. 

Binance's spot trading share continued declining for the seventh month in a row.

Binance spot trading share is declining

The Binance cryptocurrency exchange's share of total spot trading volume fell to 34.3% in September. The indicator declined for the seventh month in a row, according to CCData.
In August, the volume of spot trading on the exchange was 38.5%, in January - 55.2%.
In the derivatives market, Binance's dominance has fallen from 62.6% in January to 51.5%. 

TVL Solana reached the annual maximum

On October 2, the total locked value (TVL) on the Solana blockchain exceeded $339 million, the highest since November 2022.
However, current figures are still far from the historical highs of November 2021, when the TVL of the ecosystem reached almost $10 billion.
Over the past week, the SOL token has grown by 24%.
At the time of writing, the coin is trading at $23.3. 

Drive organic growth for your tokens with Yellow Capital's Crypto Market Making services.

Our team of experts specializes in creating a sustainable and profitable crypto market for your tokens through our proven strategies including crypto market makingalgorithmic trading, liquidity provision, token growth, and crypto exchange listing.

Yellow's algorithmic trading infrastructure can connect to over 100 exchanges, and our constantly evolving architecture is compatible with all major Blockchain protocols.

Schedule a Call now with Yellow Capital

The launch of an ETF based on Ethereum did not generate interest 

In the first 15 minutes after the start of the session, the trading volume of Ethereum-ETF based on futures traded on the CME did not exceed $2 million. This contrasts with the debut of similar instruments based on Bitcoin, where the figure was 100 times higher.
According to Bloomberg analyst Eric Balchunas, these figures are generally typical for the new ETF, but “small” for an asset like Ethereum.
According to the data presented by the specialist, the leader was the product from Valkyrie based on a basket of the first and second cryptocurrencies by capitalization ($787,000). VanEck's Ethereum futures-only ETF barely broke $300,000.
In total, the turnover for six exchange-traded funds based only on Ethereum futures at the end of the day amounted to $1.92 million, including $879,000 for the ProShares Ether Strategy ETF. 

Court rules John McAfee's death a suicide 

A Barcelona provincial court has ruled that programmer John McAfee's death in prison was a suicide. John McAfee was arrested at Barcelona airport in October 2020 at the request of the US Department of Justice. He was accused of tax evasion.
Nine months later, in June 2021, he was found hanged in his cell at Brians 2 prison. Half an hour earlier, the court approved his extradition to the United States. 

FTX co-founder testified. He admitted guilt and lies to investors 

On October 5, 2023, the trial against ex-CEO FTX Sam Bankman-Fried (SBF) continued. During the hearing, the co-founder of the exchange, Gary Wang, testified and admitted to deceiving investors and financial fraud.
Wang stated that he committed electronic money, securities, and commodities fraud while serving as CTO of the exchange. He also admitted that there was a “loophole” that allowed Alameda Research to withdraw capital from FTX in an almost unlimited amount.
According to him, Sam Bankman-Fried was aware of these manipulations. Wang noted that they both “lied to the public,” along with former Alameda Research CEO Caroline Ellison and another FTX executive, Nishad Singh. 

customer1 png

Hi, I am Alexis Yellow

Chairman of Yellow Capital

Are you ready for a wild career transition? I went from launching rockets into outer space at the European Space Center to helping Token Issuers launch their Crypto Projects!

Yellow Capital provides advisory services, strategic investments, and prime crypto market making.

Join me on this journey as I share my experiences and expertise in the crypto world, and maybe we'll even launch a few successful projects together!

1 png


Private Rounds

- Early stage pre-listing
- Investment and Incubation

Market Making

Token Issuers

- We are Prime Market Makers for the projects we invest into.

Increase Your Cash Flow

Listed Tokens

- We buy up to $5,000,000

Exclusive For the Projects We Invest In

Get Free Market Making

Our investment strategy involves providing deep liquidity crypto market making to the projects we invest in. This approach allows us to ensure continuous and substantial liquidity in exchanges. By doing so, we aim to increase market efficiency and reduce price volatility. We help to stabilize prices and reduce the bid-ask spread, which can lower transaction costs for traders. This usually attracts more traders to the markets, by making it easier and less risky to trade your token which can help to increase the overall liquidity and trading volumes both for the benefit of traders and issuers. However, we recognize that providing liquidity also comes with potential risks, which we carefully evaluate and manage as part of our investment decision-making process.