BTC is currently trading around $20,300 and ETH around $1,400. Notable gainers in the last 24 hours are UNI, GMT, and MKR. The global crypto market cap is ~$1.02T, up 4.6% over the last day. DeFi Total Value Locked is ~$73b and BTC dominance is around 41%.
Global equities are bouncing as dip buyers emerged following the worst close for many U.S. equity indexes in nearly two years. Crypto markets are similarly catching a risk-on bounce. Global bond performance is mixed, but yield curves are generally steepening and clawing back the degree of inversion.
Notable news includes: a new whitepaper proposed major changes to the utility of the Cosmos Hub and the ATOM token; Walmart launched two worlds in Roblox as a testing ground for the metaverse; Cambridge University research alleged that the sustainability mix of electricity powering Bitcoin miners might be declining; crypto lender Nexo faced a cease-and-desist order from California; FTX US will acquire Voyager Digital’s crypto assets; crypto derivatives exchange Deribit reportedly raised funds from existing investors at a $400m valuation; NFT game Pixelmon is attempting a comeback after its laughable art reveal in February; Art Blocks announced it’s winding down its Curated series; London-based asset manager Fasanara Capital established a $350m crypto VC fund; and, prosecutors have reportedly asked KuCoin and OKX to freeze $67m worth of bitcoin associated with Do Kwon and LFG.
Authors:
Matt Kunke, Junior Strategist | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Telegram, LinkedIn
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