BTC is currently trading around $56,800 and ETH around $2,350. Notable gainers in the last 24 hours are FET, BSV, and FTM. The global crypto market cap is $2.09T, up 0.7% over the last day. DeFi Total Value Locked is ~$77b and BTC dominance is around 57%.
Markets are relatively unchanged with all eyes on tonight’s US Presidential debate, slated for 9pm EST / 1am UTC. According to Polymarket, there are mid-teens odds that crypto is mentioned during the debate, though many believe a strong general showing by the pro-crypto Trump could support crypto prices. That said, Polymarket currently assigns a 73% chance to Harris winning the debate according to polls.
Notable news includes: the US FBI found that crypto was involved in 87% of all investment fraud in 2023; crypto ownership in key jurisdictions remained steady since 2022, per a Gemini report; the spot Bitcoin ETFs saw net inflows yesterday after eight straight trading days of outflows; Lufthansa and Deutsche Telekom revealed they are running nodes for DePIN-focused layer one blockchain Peaq; Tether, Tron, and TRM Labs established a new private financial crimes unit called T3 FCU; blockchain analytics firm Nansen acquired staking services provider StakeWithUs to enable users to stake tokens across 20+ blockchains; Solana fees hit a six-month low amidst declining pump.fun usage; crypto hardware manufacturer Fabric partnered with Polygon to bring its Verifiable Processing Units to the AggLayer; governance voting platform Snapshot announced the launch of a new Starknet-based onchain voting protocol Snapshot X; Bitcoin scaling solution Fractal launched its mainnet; blockchain oracle RedStone launched an onchain benchmark for Ethereum staking yields; the DOGS Mini App surpassed 53m users; and, code from the Trump family’s World Liberty Financial showed the project plans to sell 30% of its WFLI tokens at a $1.8b valuation with 70% of the project’s tokens allocated to insiders.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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