BTC is currently trading around $96,700 and ETH around $3,450. Notable gainers in the last 24 hours are ENA, HYPE, and VIRTUAL. The global crypto market cap is $3.49T, down 1.1% over the last day. DeFi Total Value Locked is ~$128b and BTC dominance is around 58%.
Equities are higher, while crypto prices have stabilized after US PCE inflation came in lighter than expected. Notably, however, the spot Bitcoin ETFs saw record outflows of $680m yesterday, while 24h liquidations totaled $890m.
Notable news includes: The German Parliament passed a law to align Germany with upcoming EU crypto-asset rules; El Salvador purchased another $1m of BTC despite its recent agreement with the IMF scaling back certain Bitcoin-related policies; Tornado Cash developer Roman Storm filed a motion to dismiss the criminal charges filed against him by US authorities; the SEC approved the first spot Bitcoin and Ethereum combo ETFs from Hashdex and Franklin Templeton; French banking giant BPCE revealed plans to debut Bitcoin and crypto investment services for customers in 2025; crypto custody firm Copper withdrew its UK registration application; stablecoin developer Tether teased an AI platform; Ethereum developers discussed plans to raise the gas limit on the All Core Devs call; EigenLayer slashing went live on testnet; decentralized music platform Audius partnered with the International Copyright Enterprise for more broad royalty access; Aptos co-founder Mo Shaikh resigned as CEO to start a new chapter; and, Craig Wright, who claimed to be Satoshi, was sentenced to one year in prison for contempt of court.
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Author:
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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