BTC is currently trading around $26,300 and ETH around $1,650. Notable gainers in the last 24 hours are DYDX, RNDR, and MKR. The global crypto market cap is ~$1.10T, up ~1.6% over the last day. DeFi Total Value Locked is ~$38b and BTC dominance is around 49%.
Equities are rocketing higher led by the tech sector in a rally fueled by Nvidia’s massive earnings beat. The move has elevated risk assets more generally, and crypto is similarly higher while US Treasuries are slightly down heading into Jackson Hole.
In geopolitical news, Yevgeny Prigozhin, the leader of the Wagner Group previously responsible for the attempted coup against Russian President Putin, is believed to have died after a jet was reportedly shot down north of Moscow. However, the full scope of events remains unclear and difficult to verify at this point.
Notable news includes: Solana Pay integrated with Shopify for instant payments using USDC on the Solana blockchain; two Tornado Cash cofounders were charged with US federal money laundering and sanctions violations; FTX filed a motion to tap Galaxy Digital to manage its recovered cryptoassets; Dubai’s digital assets regulator published a revised custody rulebook enabling staking; Australia’s Central Bank issued a report on CBDC use cases; crypto market maker B2C2 acquired Woorton, a competing French market maker; Bitstamp halted ETH staking in the US citing regulatory uncertainty; Pendle Finance unveiled its first real-world asset product; Farcaster revealed plans to migrate from Ethereum to Optimism; Pyth Networks integrated with Stacks in a continued push for DeFi on Bitcoin; the Optimism-based Exactly Protocol offered a $700k bounty to anyone that could help recover ~$7.3m in funds that were recently lost in an exploit; and, a judge ruled that SBF can meet with his lawyers outside of jail with a 48 hour notice.
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Authors:
Matt Kunke, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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