BTC is currently trading around $61,800 and ETH around $3,400. Notable gainers in the last 24 hours are AGIX, AXL, and FET. The global crypto market cap is $2.41T, down 1.0% over the last day. DeFi Total Value Locked is ~$92b and BTC dominance is around 54%.
Equities are up small, while crypto prices are little changed to end the week. Notably, euro zone headline and core inflation in February of 2.6% and 3.1% year-over-year, respectively, both fell from the prior month, but both exceeded expectations.
Notable news includes: The BIS issued recommendations for global stablecoin arrangements; The FATF downgraded Russia’s compliance rating due to “insufficient crypto regulation”; Nigeria reportedly demanded $10b from Binance in damages for allegedly profiting from “illegal transactions” at the country’s expense; US lawmakers advanced legislation that would overturn an SEC guideline preventing banks from offering digital asset custody services; several US state attorneys general and pro-crypto factions lodged amicus briefs opposing the SEC’s case against Kraken; BlackRock’s spot bitcoin ETF crossed $10b in AUM; Grayscale had its second-largest outflow yesterday; Bank of America and Wells Fargo are now offering eligible wealth management clients access to spot Bitcoin ETFs; Ethereum L2 Blast’s TVL fell 65% in 24 hours after its mainnet launch; various Optimism-based chains deployed the Delta hard fork, designed to significantly reduce fees; StarkWare unveiled its new “blazingly fast” cryptographic prover called Stwo; DeFi protocol Ondo introduced a new blockchain-based solution to trade traditional securities; and, Ethereum NFT card game Gods Unchained launched on iOS and Android.
Sign up to conveniently receive GSR crypto content in your inbox.
Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
This material is provided by GSR (the “Firm”) solely for informational purposes, is intended only for sophisticated, institutional investors and does not constitute an offer or commitment, a solicitation of an offer or commitment, or any advice or recommendation, to enter into or conclude any transaction (whether on the terms shown or otherwise), or to provide investment services in any state or country where such an offer or solicitation or provision would be illegal. The Firm is not and does not act as an advisor or fiduciary in providing this material. GSR is not authorised or regulated in the UK by the Financial Conduct Authority. The protections provided by the UK regulatory system will not be available to you. Specifically, information provided herein is intended for institutional persons only and is not suitable for retail persons in the United Kingdom, and no solicitation or recommendation is being made to you in regards to any products or services.
This material is not a research report, and not subject to any of the independence and disclosure standards applicable to research reports prepared pursuant to FINRA or CFTC research rules. This material is not independent of the Firm’s proprietary interests, which may conflict with the interests of any counterparty of the Firm. The Firm trades instruments discussed in this material for its own account, may trade contrary to the views expressed in this material, and may have positions in other related instruments.
Information contained herein is based on sources considered to be reliable, but is not guaranteed to be accurate or complete. Any opinions or estimates expressed herein reflect a judgment made by the author(s) as of the date of publication, and are subject to change without notice. Trading and investing in digital assets involves significant risks including price volatility and illiquidity and may not be suitable for all investors. The Firm is not liable whatsoever for any direct or consequential loss arising from the use of this material. Copyright of this material belongs to GSR. Neither this material nor any copy thereof may be taken, reproduced or redistributed, directly or indirectly, without prior written permission of GSR.
