BTC is currently trading around $19,400 and ETH around $1,350. Notable gainers in the last 24 hours are HNT, RVN, and EOS. The global crypto market cap is ~$979B, up 2.3% over the last day. DeFi Total Value Locked is ~$71b and BTC dominance is around 41%.
Negative risk sentiment returned following yesterday’s late morning rally. Global equities are down about 0.5% to 1%, crypto is down about 0.6% over the same period, and global bond yields resumed their move higher. Markets reacted negatively to new U.K. PM Liz Truss defending her stimulative fiscal initiatives, which are misaligned with BoE monetary policy initiatives and may undermine broader U.K. market confidence.
Notable news includes: the IRS won its court battle to access crypto bank sFOX’s customer records for a tax investigation; Israel, Norway, and Sweden’s central banks partnered with the BIS to explore CBDC payments; the ECB noted that peer-to-peer validation might not be part of a digital euro; SWIFT and Chainlink revealed a partnership on a cross-chain interoperability proof-of-concept project; Circle revealed USDC would expand to five new blockchains; Binance began conversions of USDC and other stablecoins to BUSD; Chainlink announced its long-awaited staking program; Fidenza creator Tyler Hobbs’ QQL NFT project raised ~$17m in its mint; and, a ‘hoodie ape’ CryptoPunk sold for $4.5m.
Matt Kunke, Junior Strategist | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Telegram, LinkedIn
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