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If you took a snapshot of the BTC price from last week and compared it with the price this morning, you wouldn’t think much had happened. But as usual with crypto, there was quite the rollercoaster in between with up to ~6% boost in price at one point.
- Bitcoin: 30239
+0.58% - Ethereum: $1922 +3.57%
The big news this week was Ripple acheiving a partial win in their case with the SEC. This sent the price of their XRP token up by almost 100% in a matter of hours and sent the broader market into an upward swing for the next day or two. However, the initial euphoria and short squeezes eventually gave way and the majors sank back down to their prior levels by the end of the week.
None the less it was a significant milestone and will likely the ruling will likely have implications for altcoin fundraising for the foreseeable future, as well as indicating the likely legal status of many cryptoassets already on the market.
– @nuconomist
Weekly Crypto Stats
Crypto Market Cap: 1.26 Trillion Dollars +3.85% (Was 1.21 T)
Bitcoin Dominance: 46.7% 
-3.11% (Was 48.2%)
Ethereum Dominance: 18.4% ↔️ 0.00% (Was 18.4%)
Other Crypto (excl. BTC & ETH): 34.9% +4.49% (Was 33.4%)
Nuconomist Notes:
Altcoins were the main winners this week after the Ripple boost. Ether made and held more gains vs Bitcoin and the rest of crypto index made gains the biggest gains. Approximately $15 Billion of those gains is from the effective market cap of XRP alone.
NFT Corner
Market Stats
NFT Market Cap (ETH): Ξ 7.4 Million -1.69% (Was Ξ 7.5 Million)
NFT Market Cap (USD): $14.25 Billion +1.81% (Was $13.99 Billion)
30 Day NFT Volume (ETH): 461k +1.54% (Was 454k)
Nuconomist Notes:
NFT volume is up again and while the price is up in USD terms, it is down in ETH terms due to the recent boost. Once again suggesting that people are pricing their NFTs in USD terms instead of their native ETH currency.
News Digest
What Ripple’s XRP Win Means for Other Crypto Firms – CoinDesk
Co:Create Releases Web3 Loyalty App on Shopify – CoinDesk
Over 200 Ethscriptions Nabbed in Smart Contract Exploit – Decrypt
SEC Formally Accepts BlackRock Spot Bitcoin ETF Application for Review – Decrypt
Aave DAO Votes to Launch GHO Stablecoin – Decrypt
Top Tweet
The Nouns Dao has a big problem:
— LOOP
And it's bad.
The most crucial part of a high functioning DAO is a fair vote but right now there's something that's threatening this.
Before we dive into, first let me tell you what the Nouns Dao is
In August 2021, Nouns Dao launched… pic.twitter.com/jjAE6DTI9z(@LoopxNFT) July 15, 2023
Nouns DAO is one of the most successful crossover projects between the DAO and NFT world. One NFT is auctioned every day and each NFT provides one vote towards proposals that people put forward to use funds from the treasury. This thread reveals that there is a significant number of these votes being auctioned off by NFT owners, allowing people to swing results and potentially benefit financially. It’s worth a read and is a potential problem for many DAOs, not just Nouns.
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