BTC is currently trading around $89,500 and ETH around $2,200. Notable gainers in the last 24 hours are MOVE, CRO and SUI. The global crypto market cap is $3.05T, up 1.72% over the last day. DeFi Total Value Locked is ~$99b and BTC dominance is around 61%.
Equity markets are mixed with US markets down amidst lack of clarity regarding the Trump administration’s tariff policies towards Canada and Mexico, given uncertainty on whether specific sectors of the economy will be exempted. Crypto markets, meanwhile, are little changed.
Notable news includes: Japan’s ruling Liberal Democratic Party published a draft proposal which would reduce taxes on crypto gains to 20% from a current maximum of 55%; Bitwise launched an ETP tracking Bitcoin and gold on European exchanges; Bitwise submitted an S-1 filing for an Aptos (APT) ETF in the US; Canary Capital submitted an S-1 filing for an Axelar (AXL) ETF in the US; Coinbase signaled interest in expanding into the tokenized financial assets space, pending regulatory clarity; Deribit launched a Block RFQ interface for large OTC trades; crypto custodian Hex Trust secured a Major Payment Institution license in Singapore; crypto payments infrastructure provider Transak expanded to Australia following regulatory approval; Fireblocks unveiled a new suite of cybersecurity tools to help firms comply with Europe’s Digital Operational Resilience Act; Bitwise started using DeFi lending protocol Maple Finance to provide institutional loans; World Liberty Financial added ETH, wBTC and MOVE to its treasury; World Liberty Financial struck a deal with L1 project Sui to add SUI to its treasury and explore product development opportunities on the network; World Network (formerly known as Worldcoin) announced a new chat feature; oracle protocol RedStone launched its RED token on Ethereum; Lombard Finance expanded its liquid-staking Bitcoin token LBTC to Sui; and, the Uniswap DAO expanded its Delegate Reward Initiative to incentivize active governance with UNI tokens.
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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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