BTC is currently trading around $85,700 and ETH around $2,150. Notable gainers in the last 24 hours are WBT and LEO. The global crypto market cap is $2.92T, down 9.9% over the last day. DeFi Total Value Locked is ~$99b and BTC dominance is around 61%.
Equity markets are mixed with US markets down on concerns about the tariffs set to be levied on Mexico and Canada on Tuesday, along with a soft reading from the Manufacturing PMI index that added to worries of a US economic contraction in Q1. Elsewhere, crypto markets rallied over the weekend following posts on Truth Social from President Trump regarding a US Crypto Reserve which would include BTC, ETH, XRP, SOL and ADA. Still, crypto is down today on macro sentiment and as the market assesses the odds of a Reserve actually coming to fruition. Looking ahead, investors will closely watch the tariffs on Tuesday given uncertainty about the precise level at which they’ll be set. On the regulatory front, the US Senate is expected to vote on reversing the controversial IRS DeFi and CFPB digital payments rules this week, and the White House will hold its inaugural crypto summit on Friday. The week also features an ECB meeting Thursday and US payrolls on Friday.
Notable news includes: The US SEC agreed to drop its case against Kraken; US lawmakers launched a bipartisan pro-crypto congressional caucus; Binance announced it would delist non-MiCA compliant stablecoin pairs for European users by the end of March; crypto exchange Uphold relaunched staking services in the US; Tether appointed a new CFO and committed to completing a full audit; the Ethereum Foundation appointed Hsiao-Wei Wang and Tomasz Stanczak as co-Executive Directors; Bitcoin L2 network BOB integrated with Fireblocks; and, MetaMask denied the existence of a MASK token following speculative pre-market listings on DEXs.
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Author:
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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