BTC is currently trading around $97,700 and ETH around $2,700. Notable gainers in the last 24 hours are LTC, TAO, and STX. The global crypto market cap is $3.32T, up 1.5% over the last day. DeFi Total Value Locked is ~$107b and BTC dominance is around 62%.
Equity and crypto markets are slightly higher despite heightened US tariff uncertainty. Specifically, news reports surfaced that Trump will announce reciprocal tariffs against US trading partners this week, and Trump further told the media that he will announce tariffs on steel and aluminum. Outside of tariffs, the week features various speeches by central bank officials as well as the US CPI and PPI inflation reports on Wednesday and Thursday, respectively.
Notable news includes: the National Bank of Poland stated it will not hold Bitcoin as reserves; Maryland introduced legislation to create a state-level strategic Bitcoin reserve; the new head of the US Consumer Financial Protection Bureau suspended its operations; a judge denied Coinbase’s latest attempt to dismiss a class action lawsuit alleging the sale of unregistered securities; buy now pay later firm Klarna announced plans to integrate crypto; privacy-focused email and VPN provider Proton rolled out self-custodial Bitcoin wallets to all users; Japanese securities giant SBI announced plans to expand its range of crypto offerings; Portuguese currency exchange provider Unicambio integrated Ripple for instant international payments between Brazil and Portugal; Brazilian stock exchange B3 revealed it will introduce BTC options and ETH and SOL futures this year; crypto investment products saw $1.3b of inflows last week, per CoinShares; Strategy acquired $742m of Bitcoin; Ethereum daily fees fell below $1m for just the second time since November 2020; Arweave launched the mainnet of its AO computing platform; TRM Labs found that over half of 2024 illicit crypto activity was on Tron; and, the British man who lost Bitcoin worth $780m in the garbage now wants to buy the landfill.
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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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