TL;DR

• BTC & ETH is down

• BTC outperformed ETH this week 

• Bitcoin dominance is stagnant

• The hot coin we look at this week is TIA

Latest & Greatest 📰

Before we dive into both current and new airdrops, make sure to check the latest and greatest news across crypto:

BTC & ETH Market Update 📈

Crypto is down bad this week, with BTC being down 8.6% and ETH down 11.8%!

Bitcoin dominance has been increasing over the week, starting at around 50.71%, topping at 52.2% and ending the week around 50.1%. Capital often starts to flow into ETH and other altcoins as the price is increasing for more risk-on assets as well, causing a lower Bitcoin dominance as we have started to see over the course of multiple weeks.

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 Bitcoin halving is coming up this week. If history is any guidance we will continue to see BTC dominance climb up until after Bitcoin halving, whereafter people start to look for higher return moving further on the risk curve entering altcoins. This typically starts with ETH, and then on to mid- and low cap coins. Other coins being moved into are typically “ETH killers” like SOL, AVAX and other other L1s. Yet ETH is still the king amongst altcoins, as price action this week also shows.

With BTC dominance increasing and the ETH price decreasing more compared to BTC, the BTC/ETH ratio is trending up or and stay stagnant around 20.8 ETH per BTC, underlining that BTC continues to be king in crypto, but alts like ETH are gaining momentum.

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Hot Coin: TIA 🔥

In this week’s newsletter we dive into Celestia’s token with the ticker: $TIA.

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

What is the project about?

Celestia is a modular blockchain network that decouples consensus from data availability and execution. This is done to create a more scalable and flexible foundation for decentralized applications (dApps) and other blockchain platforms.

Here's the kicker: With Celestia, developers can deploy their own blockchains without the need to bootstrap security or set up their own validator set because Celestia provides the necessary infrastructure. It’s like the DJ of the blockchain party, keeping the beat going for everyone to dance to their own tunes.

Get a more in-depth overview of Celestia in our deep dive articles:

Why is the project exciting now?

There are three main reasons why we feature this project in this week’s newsletter:

• Data Availability Is The Hot New Thing

• The “real” Cosmos Hub

• Airdrops

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