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Daily Market Update: Sep 30, 2022

September 30, 2022

BTC is currently trading around $19,300 and ETH around $1,300. Notable gainers in the last 24 hours are LEO, XRP, and LUNC. The global crypto market cap is ~$977B, down 0.4% over the last day. DeFi Total Value Locked is ~$71b and BTC dominance is around 41%.

It appears to be a lower volatility day for markets to end the quarter following yesterday’s rout in risk assets. Crypto performance was notably resilient during yesterday’s selloff in equities, largely holding its ground. Eurozone inflation exceeded expectations and reached a record high of 10%. Despite this, equities and crypto are close to flat. 

Notable news includes: a judge ordered the SEC to turn the Hinman documents over to Ripple Labs after months of dispute; Ooki DAO moved to raise funds to defend against the CFTC lawsuit; ETHW surged as Binance launched an ETHW mining pool; Bitcoin miner Rhodium will go public via a merger deal; Gemini submitted a MakerDAO proposal to boost the adoption of its GUSD stablecoin by paying a fixed 1.25% yield on the GUSD balance in MakerDAO vaults; Facebook and Instagram announced U.S. users can now share NFTs on the platforms; Star Atlas offered its first pre-alpha gameplay demo on the Epic Games store; Uniswap is looking to raise more than $100m at a $1b valuation; and, Ethereum scaling and bridge solution Aurora paid out $2m in bug bounties.

Matt Kunke, Junior Strategist | TwitterTelegramLinkedIn
Brian Rudick, Senior Strategist | TelegramLinkedIn

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