Daily Market Update: March 28, 2025

BTC is currently trading around $83,800 and ETH around $1,850.  Notable gainers in the last 24 hours are CRO, DEXE and TKX.  The global crypto market cap is $2.83T, down 4.1% over the last day.  DeFi Total Value Locked is ~$96b and BTC dominance is around 62%.

Equity and crypto markets are lower following a hotter-than-expected inflation reading from the US PCE index combined with lower-than-expected consumer spending, both of which added to fears of persistent inflation, economic contraction, and a sustained policy of keeping rates higher on the part of the Fed.

Notable news includes: the US SEC formally dismissed its enforcement actions against Kraken, Consensys and Cumberland DRW; HashKey Group and Bosera Asset Management released plans to launch tokenized shares of two existing money market ETFs as part of HKMA’s Project Ensemble; Hong Kong-based China Pacific Insurance Investment Management rolled out a tokenized US dollar money market fund on the HashKey Chain; French public sector investment bank Bpifrance announced plans to invest $27m directly into tokens in an effort to strengthen France’s blockchain ecosystem; Galaxy Digital reached a $200m settlement agreement with the New York Attorney General’s office in connection to its investments in the Terra-Luna ecosystem; Sei Foundation announced it is officially exploring the acquisition of 23andMe as part of a potential DeSci initiative; payments protocol Zebec Network launched a crypto debit card in collaboration with Mastercard; and, Off the Grid game developer Gunzilla Games announced it will debut its Avalanche layer 1 blockchain GUNZ Network and its token on March 31st.