BTC is currently trading around $30,700 and ETH around $2,100. Notable gainers in the last 24 hours are INJ, ARB, and RPL. The global crypto market cap is ~$1.33T, up ~2.6% over the last day. DeFi Total Value Locked is ~$54b and BTC dominance is around 48%.
Equities are returning some of yesterday’s gains, while crypto continues to trot higher behind post-Shapella Ethereum strength. Retail sales came in slower than expected, but investors aren’t anticipating any impact to the Fed’s trajectory as rates rallied nonetheless. It’s a big day for financials earnings, with JPMorgan, Wells Fargo, and Citi all beating expectations largely due to the positive interest rate backdrop.
Notable news includes: Solana’s crypto-ready Saga smartphone goes on sale May 8th; Uniswap’s wallet app was approved by Apple and is now available in the app store in most countries; Bitrue’s hot wallet was exploited for ~$23m; Ethereum withdrawal requests have flat lined since yesterday, and the total time to exit currently sits at ~12 days on average; Chia Network submitted a registration to the SEC for a proposed IPO; the Arbitrum proposal to return ~$1b in governance token is expected to fail; zkSync jumped to ~$250m of TVL; Gemini filed for pre-registration in Canada; Canon is launching an Ethereum-based photo NFT marketplace called Cadabra; MonkeDAO plans to buy the rights to the Solana Monkey Business NFT collection for $2m; and, a prominent BAYC whale known as Franklin sold 27 apes after claiming he was a victim to a $4m rug pull.
Matt Kunke, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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