BTC is currently trading around $37,000 and ETH around $2,050. Notable gainers in the last 24 hours are USTC, LUNC, and UNI. The global crypto market cap is ~$1.47T, down 1.5% over the last day. DeFi Total Value Locked is ~$46b and BTC dominance is around 53%.
Traditional markets are little changed to start the week while crypto is down ~1.5%. It’s a slow start to a week that’s headlined by inflation releases, including German CPI, Eurozone CPI, and US PCE across Wednesday and Thursday. Additionally, Fed Chair Powell will deliver a speech midday Friday to round out the week.
Notable news includes: Argentina President elect Javier Milei confirmed that ending the country’s Central Bank was a non-negotiable part of his economic plan; the Cosmos hub voted to reduce ATOM’s inflation in a marked shift away from its founder Jae’s vision, and Jae has since called for a coordinated fork dubbed AtomOne to pursue a different path forward; Blast’s TVL has breached ~$500m despite its seed backer Paradigm raising concerns about the project’s launch strategy; BanklessHQ proposed burning its Bankless DAO token allocation to more clearly delineate itself from the DAO after a proposal sought a ~$1.8m ARB token grant for educational content that was perceived negatively; Hive expanded its data center / mining operations in Sweden; OKX rolled out its crypto exchange and wallet service in Brazil; a recent SEC filing highlighted the agency’s struggle to serve a lawsuit to HEX founder Richard Heart; and, KyberSwap recovered ~$4.7m after negotiating with the front-running MEV bots that extracted MEV gains during Kyber’s ~$47m exploit last week.
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Authors:
Matt Kunke, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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