BTC is currently trading around $81,600 and ETH around $1,900. Notable gainers in the last 24 hours are CAKE, MKR and TON. The global crypto market cap is $2.77T, down 1.7% over the last day. DeFi Total Value Locked is ~$88b and BTC dominance is around 62%.
Equity markets are mixed, with US stocks and crypto lower ahead of tomorrow’s Fed meeting as investors await news regarding monetary policy and a resolution to the ongoing trade disputes, with an impending tariff exemption deadline on some imports from Canada and Mexico coming on April 2nd.
Notable news includes: South Korea’s central bank announced it will begin a CBDC pilot with 100k citizens next month; Gemini appointed a new CFO as it reportedly eyes a potential IPO; Boerse Stuttgart’s BX Digital received approval from FINMA to operate a digital asset trading platform in Switzerland; Metaplanet bought $12.5m worth of BTC and issued bonds to acquire more; Ethena and Securitize announced they will jointly launch a new layer 1 blockchain called Converge which will focus on tokenized assets and DeFi; Xapo Bank unveiled a Bitcoin-backed lending program providing loans of up to $1m; Bitcoin miner Bitfarms completed its acquisition of fellow miner Stronghold Digital; Tether increased its stake in Bitfarms; Arbitrum developer Offchain Labs announced a program called Onchain Labs which will focus on supporting teams building applications on Arbitrum with product development and go-to-market help; the governance of Crypto.com-affiliated blockchain Cronos approved a proposal to reissue 70b CRO tokens that were burned in 2021, increasing token supply from 30b to the original cap of 100b; Aave’s founder clarified that Avara’s new Horizon product focused on RWAs will not have a token, after the community expressed concerns of value accrual to AAVE; Ripple filed a trademark for Ripple Custody; Sky, formerly known as MarkerDAO, selected products by BlackRock, Superstate, and Centrifuge for its $1b tokenized treasury investment plan; and, Siemens Cre8Ventures announced a partnership with IoT blockchain Minima to explore applications using Siemen’s embedded devices across automotive, energy and healthcare.
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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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