BTC is currently trading around $30,300 and ETH around $2,100. Notable gainers in the last 24 hours are XRD, ICP, and ARB. The global crypto market cap is ~$1.33T, up ~2.0% over the last day. DeFi Total Value Locked is ~$53b and BTC dominance is around 47%.
Risk assets are inching higher, with both crypto and equities gaining this morning. Strong earnings from the largest pre-market reporters (J&J, BofA, and LMT) are helping to bolster returns. Additionally, a pro-growth narrative for a post-Covid-zero China has helped with China delivering its strongest growth in a year, growing 4.5% in Q1 versus expectations of 4.0%.
Notable news includes: The NYDFS will begin charging crypto companies for supervision; The SEC’s Bittrex lawsuit claimed ALGO and DASH are unregistered securities; The BoE is considering limits on stablecoin payments; USDT’s stablecoin dominance breached 65%; CME Group revealed plans to introduce weekday expiry BTC and ETH options; crypto funds realized net inflows for their fourth consecutive week; Gala announced a migration of its GALA token to a new v2 token contract will occur in May; Bitget announced a $200m dapp innovation fund; ex-Pantera co-CIO Joey Krug joined Peter Thel’s Founders Fund; Starbucks suggested that a public rollout of its NFT program Odyssey is ‘getting closer’; Nike unveiled its first .Swoosh NFT drop; and, KyberSwap TVL plummeted after announcing a potential vulnerability and telling LPs to withdraw.
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Authors:
Matt Kunke, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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