Despite an overhang of regulations, the application layer of #Ethereum continues to flourish.

The #NFT market has seen competitor Blur take market share from leader OpenSea, driven by a strategy focused on pro traders.

Read more in The Week On-chain

After an extremely consequential week, the digital asset industry finds itself short three crypto friendly banks in the US.

Investors appear to be seeking safety in the most trustless major assets #Bitcoin and #Ethereum

In this edition, we will focus on some of the key effects playing out on-chain, and within wider in market structure, including:

- De-pegging of several stablecoins from $1, as well as dominance shifting back towards Tether (USDT).
- Net capital outflows from the digital asset market, observable across both stablecoins, and the two majors, BTC and ETH.
- Cyclical lows hit in futures open interest, despite elevated trade volumes, and speculative interest leading to an explosive rally back to $22k for BTC, and $1.6k for ETH.

Read more in The Week On-chain

Our latest market update video report is live for #Bitcoin and #Ethereum

We cover
- Fallout from three banks failing
- Depeg of $USDC and $DAI
- Market preference for spot $BTC and $ETH
- Long and Short Squeezes in Futures

Watch our latest analysis video report📽
https://youtu.be/pOmJ0Njhxn0

Deposit trends by #Ethereum staking providers have exhibited a clear shift over time with Kraken, Binance and Coinbase jousting for deposit allocations across the Beacon Chain's early days.

As the dust settled between the three giants, it was Lido who emerged victorious, continuing to dominate deposit inflows at present.

The highly anticipated Shanghai/Capella hard fork is scheduled to take place on 12-April-2023, enabling the withdrawal of staked #Ethereum.

In this extended edition of the Week On-Chain, we shall evaluate the overall #Ethereum staking landscape, develop a framework to establish staking cohorts, and assess the potential sell-side pressure which may occur due to the unlock event.

Read our analysis in The Week On-Chain

Capital tends to flow into the digital asset market primarily via three assets; #Bitcoin, #Ethereum, and #Stablecoins. With stablecoins proliferating in recent years, and becoming a dominant quote pair, we can use the relative flow of funds between these assets to gauge aggregate market demand.

In our latest video report, we cover the shifting tides of capital flows:
- Review the Recovering from a Bitcoin Bear dashboard.
- Use aggregate capital flow metrics to assess macro demand.
- Assess the relative balance between stablecoins and the majors.
- Shifting dominance that helps establish a view over the risk curve.

Visit our Capital Rotation dashboard for a full set of charts covered in this weeks video report.

In this week's Glassnode Clips, we focus on BTC vs ETH Exchange Flow Dominance:

- This metric gauges the proportion of USD funds flowing in and out of exchanges attributed to Bitcoin and Ethereum. A higher value signals Bitcoin dominance, while a lower value suggests Ethereum dominance.
- Throughout 2023, Bitcoin's dominance has noticeably increased, moving from around 50% to between 65-75%. This rise in BTC exchange flow dominance indicates capital moving down the risk curve, suggesting a weakening of risk appetite.
- Despite the increase in Bitcoin's dominance, net capital outflows persist across the digital asset space, highlighting that caution remains the dominant sentiment.

Discover more in the latest Glassnode Clips below 👇
https://www.youtube.com/watch?v=o_Htt6cKYIY