Monthly Market Recap

This report is designed to provide the reader a quick overview of the blockchain economic categories that have been impacting recent crypto market performance, gain insights into where institutional investors are directing capital for digital assets, and comprehend how crypto is affected by and influences the broader market landscape.

Key takeaways for the month:

Major bank failures have increased concerns about financial stability, leading to a decrease in market-based interest rate expectations. This has resulted in an uptick in the price of Bitcoin to levels last seen in June 2022.
Stellar (XLM) rose over 25.7% last month, outperforming the top two mega-cap tokens Bitcoin (+22.7%) and Ether (+13.2%).
Open interest for Bitcoin futures climbed further to just under 15K contracts. Meanwhile, Ether futures were mostly unchanged.

Monthly Index Performance

All index performance is rebased to 100. Source: CF Benchmarks, Bloomberg, as of March 31, 2023

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