Digital Currency Group (DCG) is about to shut down its wealth management subsidiary it launched last year, HQ Digital. The unit is closing due to “the more uncertain state of the economic environment and the long crypto winter which is a significant headwind for the sector.”
DCG is the parent company of Genesis Trading and has indicated that it plans to return to this project in the future. HQ Digital was launched last year to manage the wealth of crypto entrepreneurs and investors, and has managed more than $3.5 billion as of December.
Genesis Trading halted withdrawals and issuing new loans after FTX collapsed in November, in a move that hurt other cryptocurrency firms, including Gemini. Gemini offered its users an Earn product based on the Genesis service.
Gemini recently pressured DCG to find a solution to the issue that left $900 million in user funds blocked.
The total value of the cryptocurrency market managed to increase by around $17 billion last week. Interestingly, the gains mostly came from altcoins. This is evident in the decline of Bitcoin’s dominance – a metric commonly used to measure BTC’s share relative to the rest of the market.
As of this week, BTC dominance is 38.1%. Bitcoin price benefited from a weak dollar and is trading above $17,000.
Meanwhile, three symbols were the best performers each week, including two for the second week in a row: Read DAO (LDO) 25.64%, OKB (OKB) 31.42% and BitDAO (BIT) 39.65%.
Lido Dow (LDO) 25.64%
Lido is a liquid staking solution for ETH 2.0 powered by industry leading staking providers. Lido allows users to engage in ETH — without locking in assets or maintaining infrastructure — while participating in on-chain activities, for example, lending.
Today’s price of Lido DAO is $1.4836, an increase of 9% in the last 24 hours, and on a weekly basis, an increase of about 25.64%. Lido DAO has a market capitalization of $1.23 billion. The LDO volume in 24 hours is $1.08 billion, with a circulating supply of 830,548,818 and a maximum supply of 1,000,000,000.
Lido DAO is traded on 53 exchanges, the main ones being: BingX ($463.71 million), Binance ($421.43 million) and KuCoin Futures ($83.16 million). Lido DAO hit an all-time high of $6.4017 over one year.
On the last day, Lido DAO was trading across 133 active markets, with its largest trading pairs being USDT ($975.00M), BUSD ($81.92M) and ETH ($11.46M). Millions).
OKB (OKB) 31.42%
Centralized cryptocurrency exchanges have been at the center of the storm since the FTX crash, but OKB (OKB) is close to completing another two weeks in a row of gains on a rally that has already gained 23.4% in two weeks.
OKB price today is $27.01, down 1% over the past 24 hours, but up about 31.42% on a weekly basis. OKB has a market capitalization of $6.66 billion. The volume of the 24-hour OKB is 19.59 million, with a rolling supply of 246,638,974 and a maximum supply of 300,000,000.
OKB is traded on 19 exchanges, the main ones are: OKX ($17.55 million), Lbank ($766,573) and BKEX ($582,867). OKB hit an all-time high of $42.41 over the course of one year.
Over the past day, OKB has been trading across 232 active markets, with the highest volume trading pairs being USDT ($14.39M), BTC ($2.30M) and USDC ($1.66M).
BitDAO (BIT) 39.65%
BitDAO is one of the largest DAOs (Decentralized Autonomous Organization) in the world. His vision is open finance and a decentralized token economy. BitDAO is a protocol governed by BIT token holders.
BitDAO (BIT) has been consolidating between $0.25 and $0.35 in the past few days, but the price action is showing signs of a possible breakout.
The price of BitDAO today is $0.420177, down 1% in the past 24 hours, but up about 39.65% on a weekly basis. BitDAO has a market capitalization of $604.79 million. The 24-hour BIT volume is $122.74 million, with a circulating bid of 1,439,360,121 and a maximum bid of 10,000,000,000.
BitDAO is traded on 19 exchanges, the main ones being: Bybit ($119.56 million), Uniswap V3 (Ethereum) ($1.29 million) and Lbank ($1.01 million). BitDAO hit an all-time high of $2.9521 about one year ago.
Over the past day, BitDAO has been trading across 42 active markets, with its largest trading pairs being USDT ($110.21 million), USD ($9.12 million), and USDC ($1.42 million).