BTC is currently trading around $103,500, ETH around $2,600, and SOL around $177. Notable gainers in the last 24 hours are RAY, TKX and FARTCOIN. The global crypto market cap is $3.47T, down 0.7% over the last day. DeFi Total Value Locked is ~$118b and BTC dominance is around 63%.
Notable news includes: Thailand’s finance minister said the country plans to offer $150m worth of an interest-yielding ‘digital investment token’ aiming to raise funds for the government while providing a higher return than bank deposits; US CFTC commissioner Summer Mersinger will become the next CEO of digital asset advocacy group the Blockchain Association; eToro’s shares will start trading on the Nasdaq today at $52 a share, implying a $4.2b valuation for the company; Coinbase invested in Canadian stablecoin issuer Stablecorp, which issues the Canadian dollar backed QCAD; Dubai’s finance department signed an MOU with Crypto.com to enable crypto payments for government services; FalconX inked a partnership to use Standard Chartered’s banking services as it looks to offer stronger banking and FX solutions to its clients; Coinbase announced it will launch wrapped versions of XRP, ADA, DOGE and LTC on Base; JP Morgan’s Kinexys Digital Payments partnered with Ondo and Chainlink to test cross-chain private-public blockchain transactions involving tokenized assets; NEAR protocol halved its block time to 600 milliseconds, bringing down finality to 1.2 seconds; Hivemapper’s Bee Maps partnered with Lyft to offer the latter more accurate mapping data; the communities of derivative protocols Synthetix and Derive are considering a proposal in which Synthetix would acquire Derive in a $27m token-swap deal; Sky, formerly MakerDAO, posted a first quarter loss of $5m following a rise in interest payments to incentivize use of USDS over DAI; Virtuals introduced a new staking mechanism for its native token, which replaces passive holding incentives with a vote-escrowed structure granting veVIRTUAL; and, Solana multi-sig wallet developer Squads announced Altitude, a stablecoin-native account geared for businesses.
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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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