BTC is currently trading around $99,600 and ETH around $3,850. Notable gainers in the last 24 hours are AAVE, LDO, and LINK. The global crypto market cap is $3.76T, down 2.0% over the last day. DeFi Total Value Locked is ~$132b and BTC dominance is around 56%.
Traditional and crypto markets are down small as US wholesale prices came in hotter than expected on both a headline and core basis.
Notable news includes: Donald Trump pledged to “do something great with crypto”; the US Senate Banking Committee postponed its vote on the re-nomination of Commissioner Crenshaw; Texas lawmakers introduced a bill to establish a strategic Bitcoin reserve; Vancouver officially approved a motion to explore becoming a Bitcoin-friendly city and investing a portion of its reserves into Bitcoin; Ukraine reportedly plans to legalize crypto by 1Q25; El Salvador is discussing agreements with 25 countries to help them strengthen their digital asset industries; Australia proposed more strict AML/CTF rules on crypto; Australia’s superannuation fund AMP invested in Bitcoin; Huabao Overseas Technology advertised indirect Bitcoin access via Alipay in mainland China; activist investor Starboard built a stake in Bitcoin miner Riot; the stock of miner Hut 8 rose on speculation of a partnership with Meta; only 0.55% of Microsoft shareholders voted to add Bitcoin to the company’s balance sheet; BlackRock recommended investors with multi-asset portfolios invest up to 2% in Bitcoin; Ex-Grayscale CEO Sonnenshein joined tokenization firm Securitize as COO; World Liberty Financial purchased $12m of Ethereum, Chainlink, and Aave; Casa unveiled a self-custody service for nation-states; Bitcoin ATM operator Byte Federal reported a data breach; Coinbase announced it may delist USDT in Europe; Avalanche raised $250m ahead of its Avalanche9000 launch; a hacker exploited a Dogecoin vulnerability and caused ~70% of network nodes to crash; South Korean web3 firm Another World announced it will merge with metaverse project Lamina1; Step Finance acquired Moose Capital to bring tokenized stocks to Solana; Push Protocol launched Push Chain to unify blockchain communication; and, decentralized gaming project Treasure launched its mainnet.
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Author:
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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