BTC is currently trading around $98,400 and ETH around $2,750. Notable gainers in the last 24 hours are IP, MKR, and S. The global crypto market cap is $3.36T, up 2.2% over the last day. DeFi Total Value Locked is ~$110b and BTC dominance is around 61%.
Equity markets are lower and crypto is bouncing slightly higher amidst a tempering outlook for US growth due to higher than expected US jobless claims, an unexpected decline in the Conference Board’s Leading Economic Index, and a disappointing sales outlook from Walmart.
Notable news includes: The SEC withdrew its appeal to reverse a US court decision against its dealer rule; the SEC asked industry participants for a memo detailing the different types of staking and their benefits; the SEC acknowledged 21Shares’ proposal to permit staking on its Ethereum ETF; Nigeria’s Federal Internal Revenue Service sued Binance for $81.5b in economic losses and back taxes; Brazil’s SEC approved the launch of the world’s first spot XRP ETF; Microsoft unveiled a new quantum chip; Deribit continued conversations with Kraken and Coinbase regarding a potential acquisition; BitGo and Copper enabled clients to trade spot and derivatives on Deribit while maintaining off-exchange qualified custody; Onramp partnered with Arch to offer a Bitcoin-backed lending service; Kaito launched its much anticipated token on Base; Eigenlayer, Polymarket, and UMA announced a collaboration to build an oracle system for prediction markets; World Chain deployed its Priority Blockspace for Humans functionality on testnet; Arweave-based permanent cloud network AR.IO launched its mainnet; Exodus wallet integrated Venmo for crypto purchases; and SynFutures introduced an AI trading agent.
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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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