BTC is currently trading around $47,900 and ETH around $2,500. Notable gainers in the last 24 hours are IMX, TON, and SUI. The global crypto market cap is $1.88T, down 1.2% over the last day. DeFi Total Value Locked is ~$67b and BTC dominance is around 54%.
Traditional equity markets are ~flat after the S&P 500 closed above 5,000 for the first time ever and increased for five weeks in a row with particular strength in tech stocks. Bitcoin, meanwhile, is up 2% from late Friday and 11% over the last seven days. Investors will be watching several macro releases this week, including US CPI on Tuesday, Eurozone GDP on Wednesday, US retail sales on Thursday, and US producer prices on Friday.
Notable news includes: The UN is reportedly investigating North Korea-linked hacking groups that stole ~$3b over six years from crypto firms; the New York Attorney General expanded the state’s lawsuit against DCG and tripled the estimated size of the alleged fraud to more than $3b; Grayscale and DCG objected to Genesis’s plan to liquidate $1.6b in GBTC shares; Deutsche Börse unit Crypto Finance secured four licenses from the German regulator BaFin; the Ethereum validator queue reached its highest level since October amidst renewed interest in staking; Ethereum NFT trading hit its highest weekly trading volume in a year; EtherFi, Renzo, and Swell launched a liquid restaking pool on Balancer; Solana Labs published a detailed report outlining the blockchain’s recent outage that concluded the outage was due to a bug that resulted in an infinite loop; and, Solana’s second mobile phone Chapter 2 crossed 100,000 in pre-sales.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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