BTC is currently trading around $88,500 and ETH around $2,100. Notable gainers in the last 24 hours are RENDER, BERA and WLD. The global crypto market cap is $2.99T, up 3.8% over the last day. DeFi Total Value Locked is ~$97b and BTC dominance is around 62%.
Equity markets are mixed, however, US equities and crypto are higher on reports that the Trump administration may hold back from implementing some of its tariff plans. Looking ahead, this week features a speech by ECB President Lagarde and Tokyo CPI readings on Thursday, and US PCE inflation on Friday.
Notable news includes: Strategy purchased $584m worth of Bitcoin over the past week; Coinbase is reportedly exploring an acquisition of derivatives trading platform Deribit; Fidelity filed to create an onchain share class for its Treasury Digital money market fund; Haun Ventures is reportedly raising $1b for two new crypto-focused funds; GCash, a widely used fintech app in the Philippines, expanded into stablecoin payments with USDC; Germany’s financial supervisory authority BaFin halted Ethena Labs’ German subsidiary from issuing USDe, citing deficiencies in their licensing application; Berachain launched its proof-of-liquidity system; MegaETH launched its public testnet; Farcaster launched the mainnet for its blockchain-like data layer called Snapchain; private computation platform Nillion launched its alpha mainnet and token; dYdX introduced a token buyback program through which 25% of protocol fees will be used for buybacks; and, World Network is reportedly in talks with Visa to bring payment card functionality to its self-custody wallets.
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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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