Daily Market Update: July 26, 2024

July 26, 2024

BTC is currently trading around $67,300 and ETH around $3,250. Notable gainers in the last 24 hours are TAO, AAVE, and RNDR. The global crypto market cap is $2.52T, up 3.6% over the last day.  DeFi Total Value Locked is ~$98b and BTC dominance is around 57%.

Equity markets are higher as US PCE inflation in June was in line with expectations on both a headline and core basis.  Meanwhile, crypto prices are recovering from yesterday’s sell off.

Notable news includes: Switzerland released new guidance on stablecoin issuance; Argentina’s financial regulator ruled that crypto exchanges must obtain operating permits; US Senator Marshall withdrew his support for a crypto AML bill he co-introduced amidst pressure from the crypto industry; Jersey City, the second largest city in the US state of New Jersey, announced plans to invest a portion of its pension fund into Bitcoin; the spot Ethereum ETFs saw $152m of outflows on their third day trading on continued heavy ETHE redemptions; Illuvium launched three blockchain-based games on the Epic Games Store; StakeWare revealed plans to integrate Cosmos’ IBC protocol into Starknet; and, the Arbitrum DAO issued a governance temperature check proposing to extend Orbit chains to networks beyond Ethereum.

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Author:
Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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