TL;DR

• BTC & ETH is up

• BTC underperformed ETH this week 

• Bitcoin dominance is down

• The hot coin we look at this week is INJ

Latest & Greatest 📰

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BTC & ETH Market Update 📈

Crypto is up this week, with BTC being up 1.8% and ETH up 22.2%:

Bitcoin dominance has decreased this week, falling from 52.42% to a trough of 50.13% and ending at 50.5%. The recent ETH rally has already impacted Bitcoin's market dominance. This shift causes Bitcoin's dominance to decrease, a trend observed over the past few days.

It’s going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.

The recent approval of spot ETH exchange-traded funds (ETFs) by U.S. regulators challenges Bitcoin's (BTC) 18-month dominance uptrend, sparking speculation about a new "altseason."

Despite this significant milestone, both Bitcoin (BTC) and Ether (ETH) experienced a 3.5% decline on the day of May 24, trading at $67,000 and $3,670 respectively. The muted market response is attributed to the delay in the ETFs becoming tradable, as further preparations are expected to take several weeks, possibly launching by mid-June.

With BTC dominance decreasing and the ETH price decreasing less than BTC, the BTC/ETH ratio is trending downwards to 18.20 ETH per BTC.

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Hot Coin: INJ 🔥

In this week’s newsletter, we dive into Injective’s token with the ticker: $INJ.

The price action and volume is has been growing consistently, and doesn’t seem to stop any time soon:

What is the project about?

Injective is a blockchain designed specifically for finance, functioning as an open and interoperable layer-one network that supports advanced DeFi applications, including decentralized spot and derivatives exchanges, prediction markets, lending protocols, and more.

Injective offers unique, powerful financial infrastructure primitives that applications can use, such as a fully decentralized MEV-resistant on-chain orderbook. It enables all forms of financial markets—including spot, perpetual, futures, and options—to operate entirely on-chain. Additionally, its decentralized cross-chain bridging infrastructure is compatible with Ethereum, IBC-enabled blockchains, and non-EVM chains like Solana.

Injective features a next-generation, highly interoperable smart contract platform based on CosmWasm, with advanced interchain capabilities. Built with the Cosmos SDK and using a Tendermint-based Proof-of-Stake consensus mechanism, Injective provides instant transaction finality and can support extremely fast performance (over 10,000 TPS).

The Injective ecosystem encompasses over 100 projects and has a community of more than 150,000 members worldwide. It is supported by notable investors including Binance, Pantera Capital, Jump Crypto, and Mark Cuban.

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