BTC is currently trading around $60,200 and ETH around $2,600. Notable gainers in the last 24 hours are SUI, TIA, and CRO. The global crypto market cap is $2.20T, up 3.9% over the last day. DeFi Total Value Locked is ~$84b and BTC dominance is around 58%.
Crypto prices continue to move higher as traditional markets calm. In fact, Bitcoin’s 12% rally yesterday, which was spurred by a recovery in equities following better than feared US economic data, was its largest since early 2022.
Notable news includes: Thailand launched a digital assets regulatory sandbox; a virtual meeting between key US Democrats and crypto industry participants reportedly went sour; a US policy group proposed the creation of a Bitcoin tax-free economic zone; crypto-friendly Customers Bank received a Federal Reserve enforcement action for BSA/AML deficiencies; a Federal Reserve Bank of New York report found that sanctions on crypto mixer Tornado Cash have yielded mixed results; Coinbase argued against a CFTC proposal that could ban certain predictions markets; Bloomberg analysts predicted that options on the spot Bitcoin ETFs will launch in 4Q; Brazil approved a spot Solana ETF; Bitcoin miner Ionic Digital delayed plans to go public; Samsung teamed up with web3 game Illuvium to feature Illuvium NFTs on its web3 TVs; Solana successfully patched a potential major security vulnerability; Jito validator tips hit a record; Ethereum layer 2s Mode, Zora, and Metal L2 transferred their keys to the Optimism Collective Security Council; Do Kwon’s extradition to South Korea was again delayed; and, Donald Trump’s sons continued to tease a yet-to-be-revealed crypto project.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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