BTC is currently trading around $84,100 and ETH around $1,950. Notable gainers in the last 24 hours are TKX, PEPE and CRO. The global crypto market cap is $2.85T, up 0.7% over the last day. DeFi Total Value Locked is ~$91b and BTC dominance is around 62%.
Equity markets are higher with today’s US retail sales report reflecting modest growth, assuaging concerns of an economic contraction. Crypto markets, meanwhile, are flat. Looking ahead, the week features several central bank updates including speeches from ECB President Lagarde later today and on Thursday, and FOMC minutes and a decision on interest rates by the Bank of Japan on Wednesday. In addition, the first US SEC Crypto Task Force roundtable on security status is scheduled to occur on Friday.
Notable news includes: Acting US SEC Chair Mark Uyeda directed his staff to reexamine a crypto custody rule originally proposed by prior SEC leadership; South Korea’s central bank ruled out the possibility of incorporating Bitcoin into its foreign exchange reserves; the government of Pakistan established the Pakistan Crypto Council to oversee the integration of blockchain and digital assets into the country’s financial ecosystem; Solana futures debuted on CME; Kraken announced a new colocation service intended to offer low latency trading to clients; OKX temporarily suspended the functioning of its DEX aggregator following scrutiny from European regulators into claims that the tool was used by the Lazarus Group; Coinbase Derivatives filed with the CFTC to self-certify futures products for Cardano (ADA) and Natural Gas, the latter marking the exchange’s first foray into traditional energy commodities; VanEck filed an S-1 for a spot ETF tracking AVAX; Canary Capital filed an S-1 for a spot ETF tracking SUI; 21Shares announced it will liquidate two actively managed ETFs tied to Bitcoin and Ethereum futures amid the market downturn; Ethereum launched its new Hoodi testnet with an initial focus on continuing to test the network’s Pectra upgrade; MoonPay secured a Money Transmitter License in Wisconsin; and, World Network partnered with gaming hardware firm Razer to develop a suite of tools to combat the bot problem in video games.
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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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