BTC is currently trading around $56,800 and ETH around $2,450. Notable gainers in the last 24 hours are WIF, SUI, and HNT. The global crypto market cap is $2.1T, up 2.9% over the last day. DeFi Total Value Locked is ~$81b and BTC dominance is around 57%.
Equity and crypto markets are again higher as they recover from their recent sell-off. Notably, Bank of Japan Deputy Governor Uchida stated during a speech yesterday that the BOJ won’t raise interest rates when financial markets are unstable and downplayed the likelihood of further rate increases in 2024.
Notable news includes: The IMF stated that it is working with El Salvador to mitigate Bitcoin risks; the SEC filed a motion pushing back against Coinbase’s attempt to receive SEC documents including a sample of SEC Chair Gensler’s emails; Ripple partnered with the Dubai International Financial Centre Innovation Hub to boost blockchain adoption in the Middle East; Japanese investment and consulting firm Metaplanet announced plans to invest $59m into Bitcoin; Nasdaq filed to list and trade options on BlackRock’s iShares Ethereum Trust; the spot Ethereum ETFs recorded their largest inflow since day one at $98m yesterday; Bitcoin miner Core Scientific expanded its high performance computing deal with CoreWeave to add $2b in revenue over 12 years; dormant addresses linked to the PlusToken Ponzi scheme and which could be controlled by Chinese authorities moved $2b of ETH; Ethereum L2 Turbo claimed the ability to process 400,000 transactions per second; Succinct launched its production-ready zkVM SP1; Ore, a Solana-based mining protocol that previously caused significant network congestion, launched its version two; and, the DJT Trump memecoin led by Martin Shkreli fell by ~90% after a developer wallet sold $2m of tokens in one transaction.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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