BTC is currently trading around $86,200 and ETH around $3,250. Notable gainers in the last 24 hours are DOGE, CRO, and BONK. The global crypto market cap is $3.02T, up 2.0% over the last day. DeFi Total Value Locked is ~$109b and BTC dominance is around 60%.
Equity markets and digital assets are taking a slight breather over the last several hours, but not before the S&P 500 closed over 6,000 for the first time and Bitcoin hit a new all-time high of nearly $90,000. In fact, yesterday was the largest one-day price increase for Bitcoin in dollar terms, and crypto’s apex asset surpassed silver to become the eighth largest asset in the world.
Notable news includes: Trump is exploring new personnel and policies that would be friendly to crypto, per the Washington Post; Russian President Putin proposed establishing a digital asset platform to facilitate electronic payments and attract investment amongst BRICS countries; the UK is expected to announce a digital gilts trial within two years; the spot Bitcoin and Ethereum ETFs saw $1.1b and $296m of inflows yesterday, respectively; Coinbase launched its COIN50 index fund; Tether launched an open source wallet development kit; Ethereum researcher Justin Drake proposed a “Beam Chain” redesign of Ethereum’s consensus layer for faster block times and finality, lower validator staking requirements, and a snarkified EVM; Ethereum layer 2 Lisk launched on mainnet; decentralized social protocol Lens released its version 3; Unichain disabled its public RPC after early developer access details circulated publicly; and, Split Capital submitted a governance proposal for NFT marketplace Blur to enable a fee switch.
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Author:
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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