BTC is currently trading around $96,800, ETH around $1,800, and SOL around $145. Notable gainers in the last 24 hours are STX, EOS and IP. The global crypto market cap is $3.08T, up 1.6% over the last day. DeFi Total Value Locked is ~$99b and BTC dominance is around 65%.
Equity and crypto markets are flat as investors await news from the ongoing FOMC meeting and on global trade talks. Markets rose earlier in the day on hopes related to a US-China trade deal, but investor mood has since tempered after US Treasury Secretary Scott Bessent clarified the trade talks with Chinese officials taking place in Switzerland this weekend would be preliminary for the most part.
Notable news includes: US Treasury Secretary Scott Bessent said the US should be the premier destination for digital assets during a House Financial Services Committee hearing; the US Senate will begin voting on the GENIUS stablecoin bill this Thursday; South Korea’s leading presidential candidate said he would push to allow spot crypto ETFs, which are currently banned in the country; Visa’s venture capital arm made a strategic investment in BVNK, a startup building stablecoin-based payment infrastructure for businesses; Revolut partnered with Lightspark to enable fast Bitcoin transactions in the UK and select European countries; Coinbase introduced a x402, a new stablecoin payments protocol based on the dormant HTTP 402 Payment Required status code; Ethereum’s much anticipated Pectra upgrade went live increasing the network’s blob storage, raising the maximum validator staking balance, and enabling EOAs to have smart account functionality, among other improvements; Bitcoin payments service Strike announced Strike Lending, which will allow customers to borrow funds using Bitcoin as collateral; Tether announced a partnership with Chainalysis to integrate the latter’s compliance and monitoring tools onto Tether’s Hadron tokenization platform; Tari, a new proof-of-work blockchain built by early Monero contributors, launched its mainnet; World Liberty Financial opened snapshot voting for a proposal to airdrop a small amount of its USD1 stablecoin to WLFI holders; and, Adidas is set to launch NFTs on Sui representing in-game skins and apparel for characters in the upcoming crypto shooter game Xociety.
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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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