BTC is currently trading around $20,300 and ETH around $1,600. Notable gainers in the last 24 hours are NEXO, BIT, and NEAR. The global crypto market cap is $1.04T, up 0.5% over the last day. DeFi Total Value Locked is ~$77b and BTC dominance is around 40%.
Notable news includes: Markets are largely flat and exhibiting minimal volatility despite Eurozone inflation reaching a new record high of 9.1%; Paraguay’s president squashed its crypto mining bill with a total veto citing high electricity consumption; Australia launched a research program to explore digital asset opportunities; South Korean city Busan tapped FTX to develop a local crypto exchange and promote blockchain businesses; Hodlnaut received interim judicial management and creditor protection via court order in Singapore; Nexo committed to a $50m token buyback program; Helium developers proposed a full migration to the Solana blockchain; BNB Chain introduced liquid staking; Tether promised an audit following criticisms from the Wall Street Journal; Compound discovered a bug in a new update that forced it to temporarily freeze the cETH market; Ethereum mining pool Ethermine opened a new ETH staking service; Bitcoin mining difficulty jumped ~9.3% to its highest level ever; SBI Crypto reportedly cut ties with Russian Bitcoin mining firm BitRiver; X2Y2 announced NFT royalty payments will be optional on its platform; PROOF raised $50m and announced that Moonbirds will be shifted to a fully-on chain NFT with the art constructed from the contract itself instead of pointing to an external URI; NFT security startup Tokenproof raised $5m; Luabase raised $4.5m to get scalable web3 data; sixteen suspects were arrested in South Korea for alleged ‘kimchi premium’ trading violations; a British national accused of involvement in the $4b OneCoin scam is facing extradition to the U.S.; and, Crypto.com accidentally sent an Australian woman $10.5m instead of her requested $100 refund.
Authors:
Matt Kunke, Junior Strategist | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Telegram, LinkedIn
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