BTC is currently trading around $28,400 and ETH around $1,800. Notable gainers in the last 24 hours are KAS, CFX, and MASK. The global crypto market cap is ~$1.22T, up ~4.3% over the last day. DeFi Total Value Locked is ~$50b and BTC dominance is around 48%.
Risk appetite returned this morning as equities and crypto rallied while bonds faltered on seemingly little new information. UBS announced that Sergio Ermotti, the Swiss bank’s CEO from 2011 to 2020, would return to the top job to manage the takeover of Credit Suisse. On the data front, the BoE’s inflation letter is tentatively scheduled for tomorrow alongside German CPI, and the Fed’s preferred measure of inflation, Core PCE, will follow on Friday.
Notable news includes: Signature Bank’s crypto depositors were given an April 5th account closure deadline; Ethereum developers confirmed the Shapella hard fork would be activated on April 12th at epoch 194,048; ConsenSys launched its zkEVM public testnet and renamed the project Linea; FTX’s Sam Bankman-Fried was charged with bribing Chinese government officials in a new superseding indictment; Circle announced the USDC launch for Cosmos via the Noble network; NFT project y00ts made its anticipated transition from Solana to Polygon; Radix Trading told the WSJ it was the Chicago-based trading firm mentioned in the CFTC’s suit against Binance; Ethereum restaking protocol EigenLayer raised $50m; Orderly Network raised funding at a flat $200m valuation; and, Safemoon was exploited for ~$9m.
Authors:
Matt Kunke, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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