BTC is currently trading around $84,000 and ETH around $1,800. Notable gainers in the last 24 hours are ATOM, JUP and ALGO. The global crypto market cap is $2.79T, up 2.8% over the last day. DeFi Total Value Locked is ~$94b and BTC dominance is around 63%.
Equity markets are lower after China announced new tariffs on US goods—exacerbating concerns of a global trade war—and after Fed Chair Powell said the Fed would wait and see the effects of this week’s tariffs before taking action on rates. Crypto markets, meanwhile, are higher today in an apparent decoupling from equities.
Notable news includes: the US Senate Banking Committee voted to advance Paul Atkins to lead the SEC, Atkins will now await a full Senate vote to confirm his appointment; Illinois became the latest US state to withdraw its legal actions against Coinbase in connection to the exchange’s staking service; BNY Mellon announced a blockchain accounting tool for tokenized funds counting BlackRock’s BUIDL as its first customer; Coinbase Derivatives filed with the CFTC to self-certify XRP futures; Gemini is reportedly set to open a new office in Miami; Avara launched Lens Chain’s mainnet, an Ethereum layer 2 focused on social media applications; Pump.fun reopened live-streaming to 5% of users with stricter moderation rules; and, Treasure DAO announced it is restructuring and cutting products, including its layer 2 chain and game publishing operations, to achieve financial sustainability.
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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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