BTC is currently trading around $85,000 and ETH around $1,650. Notable gainers in the last 24 hours are FARTCOIN, KAS and XMR. The global crypto market cap is $2.78T, up 1.6% over the last day. DeFi Total Value Locked is ~$91b and BTC dominance is around 64%.
Equity markets are higher and crypto markets are flattish amid continued tariff policy uncertainty, with the Trump administration announcing tariff exemptions on semiconductors and electronics on Friday, but then clarifying on Sunday that such exemptions are not permanent, only apply to ‘reciprocal’ tariffs, and will give way to targeted sectoral tariffs that will be announced in the coming weeks. Looking ahead, this week features speeches from ECB President Lagarde on Tuesday and Fed Chair Powell on Wednesday. Wednesday also features US retail sales data releases and China’s 1Q GDP. Investors will be closely monitoring these for clues on how central banks globally will be managing monetary policy in response to continued macro uncertainty.
Notable news includes: Visa joined the Global Dollar Network (USDG) stablecoin consortium, which includes Paxos, Robinhood, and Kraken, among others; JPMorgan’s blockchain-based payments service Kinexys added support for GBP accounts in addition to its existing USD and EUR accounts; Strategy acquired another $286m worth of Bitcoin over the last week; Kraken rolled out commission-free trading of US-listed stocks and ETFs in select US states, with plans to expand to additional states in the future; Bybit integrated Avalon Lab’s CeDeFi protocol into its Earn platform, enabling Bitcoin holders to earn yield through its strategies; Binance and the US SEC asked a US federal judge to extend the ongoing pause in their case for another two months, citing productive discussions; Google announced crypto advertisers must hold a MiCA license and pass its certification to run ads on its platforms in the EU; Tether announced it will be allocating the resulting hashpower from its Bitcoin mining investments to the OCEAN mining pool, which is controversially against Bitcoin applications like inscriptions; Mantra’s OM token crashed on Sunday, with exact causes remaining uncertain; and, Ethena partnered with Re to connect USDe with the reinsurance market.
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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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