Daily Market Update: 8/23

August 23, 2022

BTC is currently trading around $21,400 and ETH around $1,600. Notable gainers in the last 24 hours are CHZ, EOS, and LDO. The global crypto market cap is $1.07T, up 1.6% over the last day. DeFi Total Value Locked is ~$81b and BTC dominance is around 41%.

Notable news includes: the Iran Import Association demanded regulatory clarity in order to use crypto in foreign trade; Crypto.com moved forward with multimillion-dollar renovations to the Staples Center despite staff cuts; a report indicated Samsung is working on launching a South Korean crypto exchange; the DTCC launched a private blockchain platform to settle trades more quickly; Ethereum clients Teku and Geth released upgraded versions in advance of The Merge; a Twitter poll indicated most Ethereum miners intend to transition to Ergo, not Ravencoin or Ethereum Classic; Tencent received a patent for a blockchain-based missing persons poster; Telegram’s founder suggested using NFT-like smart contracts to auction highly-sought after usernames; IBM’s WeaveSphere conference in November will focus on web3; DeFi Kingdoms announced it’s leaving Harmony for metaverse-focused blockchain Klaytn; the rarest Pudgy Penguin NFT sold for 400 ETH despite the challenging market backdrop; Invesco launched a new $30m metaverse fund; metaverse avatar platform Ready Player Me raised $56m from a16z and others; a LooksRare fork called Sudorare rugged for ~$800k; and, Ronin bridge hackers user ChipMixer to launder over ~$73m of stolen funds. 

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