October 2, 2023
BTC is currently trading around $28,300 and ETH around $1,700. Notable gainers in the last 24 hours are BSV, RLB, and RUNE. The global crypto market cap is ~$1.15T, up 2.6% over the last day. DeFi Total Value Locked is ~$40b and BTC dominance is around 51%.
Congress passed a last-minute agreement on Saturday to secure funding through mid-November, narrowly sidestepping a government shutdown. It’s a lighter start to the week as several Asian markets observe holidays, including China’s week-long Golden Week. Several US jobs-related data points will follow between Wednesday and Friday. Turning to performance, US stocks are mixed by sector, while developed market sovereign bond yields are generally higher across the board. Crypto has diverged to the upside with majors leading the charge higher.
Notable news includes: as many as nine ETH Futures ETFs have been cleared to launch this morning pending each manager’s operational readiness; Grayscale filed to convert its Ethereum Trust into a spot Ethereum ETF; Coinbase gained a full operating license in Singapore; Nomura’s Laser Digital opened an office in Japan; Brazil revealed plans to issue digital IDs to its more than 200m citizens using a private blockchain; Google Cloud became a validator on Polygon; friend.tech’s revenue surged to over 10k ETH; Dues X Capital launched with ~$1b in assets to be deployed into digital assets, blockchain, and other ventures; millions of dollars tied to the FTX hack is on the move; cyber security experts at ESET warned Lazarus’s new malware is becoming increasingly difficult to detect; and, more than ~$330m was stolen in crypto exploits during September.
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Authors:
Matt Kunke, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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