Crypto Market Weekly Report: Key Events and Developments

This week in the crypto market was filled with significant events and developments that impacted the industry. The latest news on the Consumer Price Index (CPI) triggered extreme volatility in the market, with Bitcoin’s price fluctuating between $65,000 and $70,000. Let’s dive into the key news and developments that shaped the market this week.

### Top Trending Crypto News This Week

#### Terraform Labs and Do Kwon settle with the SEC for $4.5 billion
A U.S. District Court judge approved a $4.5 billion settlement between the SEC, Terraform Labs, and its ex-CEO, Do Kwon. The settlement permanently bans them from the crypto industry following Terra’s $40 billion collapse.

#### Donald Trump advocates for U.S. dominance in Bitcoin mining
President Donald Trump has advocated for all future Bitcoin mining to occur within the U.S., highlighting the strategic importance of keeping Bitcoin operations stateside.

#### OKX reports identity theft drained several user accounts
OKX revealed in a statement that a hacker exploited forged “judicial documents” to access personal information of a few users, with the matter now under investigation by judicial authorities.

#### CPI Report triggered a market volatility
The U.S. Consumer Price Index (CPI) remained unchanged in May, triggering significant long-liquidation in the market.

#### MicroStrategy Upsizes Offering to Boost Bitcoin Holdings
MicroStrategy increased its convertible senior notes offering from $500 million to $700 million to fund further Bitcoin acquisitions and general corporate affairs.

### Bitcoin And Altcoin Performance

This week, Bitcoin experienced increased volatility due to macroeconomic factors like the Federal Reserve’s interest rate decision and the CPI data release. Investors continued to accumulate BTC near the dip, with Japanese company Metaplanet increasing its Bitcoin holdings. The altcoin market also saw significant activity, with Ether being bought by long-term holders.

### Crypto Dominance

Bitcoin’s market cap surged in dominance this week, while the dominance of altcoins (excluding the top 10) witnessed a decline due to Bitcoin’s surge in buying interest.

### On-Chain Metrics and Technical Analysis

Metrics like Cumulative Value Coin Days Destroyed (CVDD) and Profitable Addresses showed mixed signals, suggesting potential upward movement in the market. The rainbow chart indicated buying opportunities during price dips, while whale interest for BTC price witnessed a drop.

### Top Cryptocurrency Weekly Analysis

Meme coins, AI tokens, and stablecoins all saw significant activity this week, with notable gainers and losers in the market. Metaverse tokens also experienced fluctuations, with some tokens showing stability while others faced significant downturns.

### Top Blockchains Weekly Analysis

Ethereum led in market dominance and total value locked (TVL) among layer-1 blockchains, while Arbitrum One led in market dominance among layer-2 blockchains. Various activities were observed across top blockchains, reflecting diverse market trends.

### Top Crypto Exchanges Performance Analysis

Binance led among centralized exchanges, while Uniswap V3 on Ethereum dominated among decentralized exchanges. Derivatives trading also saw significant activity on platforms like Binance Futures and Bybit.

### Crypto Funding Analysis This Week

The crypto fundraising trend showed a variation in funds raised, with DeFi being the most invested category. Active investors like Electric Capital and Castrum Capital were prominent in the market, participating in multiple deals.

### Top Hacks This Week

Several hacks occurred this week, resulting in nearly $60 million being stolen from UwU Lend protocol, Lykke exchange, and Holograph.

In conclusion, despite the market volatility and hacks, the crypto industry saw significant developments, investments, and activities across various sectors. Stay tuned for more updates on the evolving crypto market.