Delphi Daily

Disclosure: Members of our team may own positions in assets mentioned in this report. This statement is intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase any token. This content is for informational purposes only and you should not make decisions based solely on it. This is not investment advice.

Market Update

After yesterday’s 11% decline on BTC, the Asia session opened up to even more selling (no surprise). The market briefly popped, but this was short-lived as the selling continued on London and New York open. Today’s biggest winners were stablecoins, and biggest losers were literally everything else.

This Week’s Performance

  • Everything is down today, except stablecoins which have done their job with respect to holding their peg.
  • The Polkadot ecosystem and meme coins were the hardest hit, but every major sector/ecosystem is down over 30% over the past week.

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