BTC is currently trading around $57,900 and ETH around $4,700. Notable gainers in the last 24 hours are OMI, STX, and MATIC. The global crypto market cap is $2.82T, up 0.7% over the last day. DeFi Total Value Locked is ~$278b and BTC dominance is around 41%.
US Fed Chair Jerome Powell testified yesterday before the Senate Banking Committee, stating that price increases are still related to the pandemic, but “have spread much more broadly [and] the risk of higher inflation has increased.” Powell also suggested that it’s a good time to retire the word “transitory” when talking about inflation, signaling the central bank may consider tapering its asset purchases at a faster pace than previously expected. Treasury Secretary Janet Yellen also spoke before the Committee, saying that stablecoins could lead to easier and more efficient payments but require proper regulation, and that crypto firms and providers that don’t custody customer funds should not be subject to FATF standards.
Other news includes: the number of Bitcoin addresses with a non-zero balance has reached an all-time high of 38.8 million addresses, per Glassnode; Ethereum developers have launched a program for technical and non-technical users to help test the upcoming Beacon Chain merge; the head of Facebook’s financial efforts David Marcus is leaving the company; Borderless Capital has launched a $500m fund to support projects building on Algorand; DEX aggregator 1Inch raised a $175m funding round; blockchain security firm CertiK raised an $80m funding round; and the English Premier League is reportedly considering a partnership with a NFT platform.
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