BTC is currently trading around $77,200 and ETH around $1,500. Notable gainers in the last 24 hours are KCS, MKR and TRX. The global crypto market cap is $2.53T, down 2.2% over the last day. DeFi Total Value Locked is ~$88b and BTC dominance is around 63%.
Equity markets are mixed with European and Asian markets rising on hopes that the US and major trading partners can achieve agreements on tariffs before the US’ reciprocal tariffs are set to go into effect after midnight EDT. US equities rose earlier in the trading session but are now flattish or edging lower as optimism has given way to pessimism that tariff deals will be struck in time. Crypto markets are also lower on negative tariff sentiment.
Notable news includes: the US Department of Justice disbanded its National Cryptocurrency Enforcement Team, narrowing its crypto enforcement activities; the US SEC will host its second crypto roundtable on Friday, April 11, featuring panelists from Coinbase, Uniswap and others; BlackRock tapped Anchorage Digital as an additional custodian for its digital asset ETFs; Apollo Global Management made a strategic investment in Plume Network, a blockchain project focused on RWAs; Ripple acquired prime brokerage Hidden Road for $1.25b; Galaxy Digital secured SEC approval to register the company in Delaware and plans to list on NASDAQ with the ticker GLXY after completing its reorganization; Rootstock is gearing up to launch BitVMX, an SDK that enables developers to deploy their own Bitcoin layer 2s, in the next few weeks; RedStone deployed a high-speed oracle solution called ‘Bolt’ on MegaETH’s testnet; the Aavegotchi DAO voted to migrate the game to Coinbase’s Base, sunsetting its existing Polygon layer 3 deployment; and, ZKCandy launched its gaming-focused Ethereum layer 2 network.
Sign up to conveniently receive GSR crypto content in your inbox.
Author:
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
This material is provided by GSR (the “Firm”) solely for informational purposes. It is not intended to be advice or a recommendation to buy, sell or hold any investment mentioned. Investors should form their own views in relation to any proposed investment.
It is intended only for sophisticated, institutional investors and does not constitute an offer or commitment, a solicitation of an offer or commitment, or any advice or recommendation, to enter into or conclude any transaction (whether on the terms shown or otherwise), or to provide investment services in any state or country where such an offer or solicitation or provision would be illegal. The Firm is not and does not act as an advisor or fiduciary in providing this material.
This material is not an independent research report, and has not been prepared in accordance with any legal requirements by any regulator (including the FCA, FINRA or CFTC) designed to promote the independence of investment research.
This material is not independent of the Firm’s proprietary interests, which may conflict with the interests of any counterparty of the Firm. The Firm may trade investments discussed in this material for its own account, may trade contrary to the views expressed in this material, and may have positions in other related instruments. The Firm is not subject to any prohibition on dealing ahead of the dissemination of this material.
Information contained herein is based on sources considered to be reliable, but is not guaranteed to be accurate or complete. Any opinions or estimates expressed herein reflect a judgment made by the author(s) as of the date of publication, and are subject to change without notice. The Firm does not plan to update this information.
Trading and investing in digital assets involves significant risks including price volatility and illiquidity and may not be suitable for all investors. The Firm is not liable whatsoever for any direct or consequential loss arising from the use of this material.
Copyright of this material belongs to GSR. Neither this material nor any copy thereof may be taken, reproduced or redistributed, directly or indirectly, without prior written permission of GSR.
Please see here for additional Regulatory Legal Notices relevant to US, UK and Singapore.
