BTC is currently trading around $87,500 and ETH around $2,150. Notable gainers in the last 24 hours are ENA, MOVE and XDC. The global crypto market cap is $2.98T, down 1.7% over the last day. DeFi Total Value Locked is ~$97b and BTC dominance is around 61%.
Equity markets are down amidst continued US tariff policy uncertainty and after the latest US jobs data showed a smaller than expected increase in nonfarm payrolls and an uptick in the unemployment rate from 4% to 4.1%. Meanwhile, crypto markets are lower on macro uncertainty and after President Trump signed an executive order to establish a Strategic Bitcoin Reserve primarily capitalized by Bitcoin acquired by the government as part of criminal or civil forfeiture proceedings, dashing hopes for more substantial government crypto purchases.
Notable news includes: President Trump signed an executive order to establish a Strategic Bitcoin Reserve; Texas’ state senate passed a bill that allows public funds to be allocated to digital assets; Méliuz became the first publicly-traded Brazilian company to adopt a Bitcoin treasury strategy; Coinbase’s Base acquired the development team behind privacy-focused blockchain Iron Fish; Canary Capital registered a SUI ETF entity in Delaware; blockchain-based asset management firm Superstate registered its digital transfer agent with the US SEC; Ethereum core developers opted to delay Pectra upgrade after running into issues with testnet deployments; asset tokenization project Libre launched a multi-chain tokenization solution built on Injective; Coinbase International partnered with Pyth Network to enhance data speed and precision on the exchange; and, Axie Infinity developer Sky Mavis announced the franchise’s new MMO game Axie Infinity: Atia’s Legacy.
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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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