Crypto Assets Weekly Report: Ether Price Breaks Through $4000 Threshold

This week, the Crypto Assets market continues to maintain an upward trend, with the price of Ether breaking the 4000 USD mark, reaching a new high in over two years. Let's review the important developments in the crypto industry this week.

Market Overview

Last week, the Layer 2 ecosystem generally showed positive growth, with Starknet experiencing the most significant increase at 19.64%. In the LSD sector, both the deposit volume and total withdrawal volume of Ether have risen, with the withdrawal volume increasing more noticeably, reaching 3.74%. The overall market capitalization of the RWA sector grew by 20.27%, and the 24-hour trading volume increased by 9.37%.

The traditional financial markets performed modestly, with the SPX and Nasdaq indices falling by 0.14% and 1.14% respectively. In the coming week, attention should be paid to important economic data such as Germany's CPI, the US core CPI, and the US Treasury auction.

Important Events

The price of Ether has surpassed the $4000 mark, setting a new high since December 2021. In the past 30 days, the increase of Ether has reached 67%, significantly outperforming the 57% increase of Bitcoin. Analysts believe that the market's expectation for the approval of the US spot Ether ETF is the main factor driving the price increase.

Projects to Watch

This week we focus on the NetMind project, which is a decentralized AI computing platform. NetMind aims to utilize the idle GPU resources of global users to provide distributed computing power for AI model training. The project has issued a native token $NMT, which is used to pay for platform usage fees and incentivize network participants.

Recently, NetMind announced that it has been invited to participate in the NVIDIA GTC24 conference. After the announcement, the price of $NMT rose by 40% that day. The project team is promoting cooperation with mainstream exchanges and plans to launch new features such as cross-chain transfers.

Investment Trends

This week's main investment events include:

• Kravata raised $3.6 million in funding, with investors including Circle Ventures.
• GoPlus Security completed $4 million in Series B financing.
• Bitcoin trading app Oyl secures $3 million in seed funding

Industry News

• MakerDAO temporarily raises fees in preparation for a possible surge in Dai demand.
• Aevo opens pre-trading before the token airdrop.
• BlackRock plans to allocate global funds to purchase spot Bitcoin ETFs
• The Optimism Foundation plans to privately sell OP coins worth $89 million.
• Base announced that it will support the EIP-4844 proposal starting from the first day.

Overall, the crypto market continued to maintain a strong upward momentum this week, with Ether breaking through the $4000 mark being the biggest highlight. AI-related projects and ETF-related initiatives remain hot topics of interest in the market. In the coming week, attention should continue to be paid to macroeconomic data and regulatory trends.