With the bitcoin market weakening and an ECB update, CoinDesk’s Markets Daily is back for your latest crypto news roundup!

Today’s stories:

Bitcoin Market Weakening After Macro-Based Sell-Off, On-Chain Data Suggests

Bitcoin inventory is building on exchanges but there’s a lack of buyers, according to a Chainalysis economist.

‘Misleading’ Term Stablecoin Should Be Ditched, Says ECB

The EU central bank said the term stablecoin is potentially “confusing” and “misleading” to consumers.

Tokenized Bitcoin on Ethereum Now Tops $1.1 B: Here’s Why

The supply of BitGo’s wrapped bitcoins (WBTC) topped 76,000 after setting an all-time record of nearly 21,000 WBTC minted within one week. Here’s why.

Christie’s to Auction Bitcoin-Inspired Artwork, Associated Non-Fungible Token

The artwork titled, ‘Portraits of a Mind’ created by the Robert Alice project is a set of 40 paintings made up of a transcription of the code associated with the Bitcoin blockchain.