BTC is currently trading around $86,700 and ETH around $2,150. Notable gainers in the last 24 hours are AAVE, HBAR and DEXE. The global crypto market cap is $2.96T, down 1.3% over the last day. DeFi Total Value Locked is ~$92b and BTC dominance is around 61%.
Equity markets are down after the US instituted 25% tariffs on Canada and Mexico along with an additional 10% tariff on Chinese goods today, prompting retaliatory tariffs and rising fears around the US economy. Meanwhile, crypto markets are little changed.
Notable news includes: The White House announced support for a congressional resolution that would undo the IRS’s broker DeFi rule; the US SEC closed its investigation into NFT company Yuga Labs; the SEC’s crypto task force scheduled its first roundtable for March 21; the Bank of Israel released a preliminary design proposal for its digital shekel; Vietnam announced plans to establish a legal framework for digital assets by the end of March as part of a wider push for economic growth; Japan’s SBI VC Trade completed its regulatory registration to process USDC transactions; Ethereum NFT-focused layer 2 Zora revealed plans for a token airdrop this spring; MegaETH scheduled its public testnet deployment for March 6; and, Parallel announced it would release a mobile app this month for its crypto-based card game.
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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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