BTC is currently trading around $83,300 and ETH around $1,850. Notable gainers in the last 24 hours are TON, EOS and HYPE. The global crypto market cap is $2.78T, up 0.3% over the last day. DeFi Total Value Locked is ~$94b and BTC dominance is around 62%.
Crypto markets were lower over the weekend and equity markets are mixed today amid continuing tariff uncertainty, with comments from President Trump on Sunday suggesting tariff policies will cover more countries than previously thought. Looking ahead this week, investors will closely watch tariff-related news on Wednesday, April 2, when a slew of tariffs is expected to go into effect and the Trump administration is expected to announce its plans for reciprocal tariffs. This week also features European HICP inflation and US ISM Manufacturing PMI data on Tuesday, a US ISM Services PMI release on Thursday – and US nonfarm payrolls, along with a speech from Fed Chair Powell, on Friday.
Notable news includes: the US FDIC clarified that banks can engage in permissible crypto-related activities without getting the agency’s approval beforehand, shifting its prior stance; the US CFTC withdrew two pieces of crypto-related guidance citing the need to treat crypto derivative products the same as other derivatives; Japan’s Financial Services Agency is reportedly considering classifying crypto assets as investment products, changing their current classification as a means of settlement; Brazil’s National Monetary Council barred the ‘closed’ class of pension funds from investing in digital assets; Strategy announced it acquired an additional $1.92b of Bitcoin between March 24 and March 30; UK-based crypto exchange and custodian Archax acquired a US broker-dealer; Binance debuted a new feature allowing users to make DEX trades from their CEX account; Circle reportedly hired JPMorgan and Citi to lead the company’s planned IPO as soon as late April; Hut 8 announced it will launch a new US-based Bitcoin mining company called American Bitcoin together with Eric Trump and Donald Trump Jr.; Australia-based Bitcoin miner IREN announced it will redirect its growth plans away from mining and towards AI data centers; Hashgraph, the company behind Hedera, announced it will launch a permissioned ledger for institutions based on Hedera’s technology in Q3; and, NFT marketplace X2Y2 announced it will shut down its marketplace and pivot towards an AI-driven crypto project aimed at providing sustainable yields.
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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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