BTC is currently trading around $84,500 and ETH around $1,600. Notable gainers in the last 24 hours are FARTCOIN, CRV and EOS. The global crypto market cap is $2.75T, up 0.3% over the last day. DeFi Total Value Locked is ~$90b and BTC dominance is around 64%.
Equity markets are lower and crypto markets are little changed amid an ongoing escalation in the trade war between the US and China, with the Trump administration most recently announcing tariffs of up to 245% on Chinese imports in response to the latter’s retaliatory measures and bans on exports of key strategic materials. US equities also fell after Nvidia announced a $5.5b revenue drop tied to new export restrictions, and after Fed Chair Powell raised concerns about the economic impact of tariffs during his remarks earlier in the day.
Notable news includes: Oklahoma’s State Revenue and Taxation Committee struck down a bill to establish a state Bitcoin reserve in a 6-5 vote; OKX relaunched its operations in the US along with a new web3 wallet and a fresh leadership team; Bitcoin mining firm Auradine raised $153m in its latest funding round with aims to launch a new AI-focused initiative; Raydium launched its pump.fun-style token launchpad called LaunchLab; Soneium partnered with AltLayer, Astar, and Eigenlayer to launch a fast finality layer for Soneium; Cosmos stablecoin project Noble introduced Noble AppLayer, an EVM-based Celestia rollup that aims to enable high-throughput stablecoin and RWA applications; Sky deployed $25m to a Maple Finance lending pool and could allocate up to $50m to it in its latest expansion in the RWA space; Bleap partnered with Mastercard to integrate its stablecoin payments solution with traditional financial infrastructure; and, AI and metaverse tech firm Futureverse acquired digital collectibles platform Candy Digital.
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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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