Daily Market Update: Apr 20, 2023

April 20, 2023

BTC is currently trading around $28,800 and ETH around $1,950. Notable gainers in the last 24 hours are KAS, BTT, and RNDR. The global crypto market cap is ~$1.27T, down ~0.6% over the last day. DeFi Total Value Locked is ~$51b and BTC dominance is around 47%.

Notable news includes: The EU’s landmark MiCA legislation passed European Parliament and introduce standardized crypto rules across the 27-country bloc; Coinbase received a license to operate in Bermuda, and its offshore exchange could reportedly launch as soon as next week; Deribit introduced BTC, ETH, and USDC spot trading, with fees temporarily set to zero; SocGen’s crypto division launched a euro stablecoin for its institutional clients built on Ethereum; 3AC’s prized Starry Night NFT Collection will be auctioned in part at Sothebys to help recoup creditor losses; a16z is building a new rollup client in the OP Stack, helping to improve client diversity; a U.S. court filing suggested non-contentious elements of the Voyager-Binance US deal could proceed even before an appeal is heard; TransUnion will introduce credit scores for blockchain-based loan applications; and, Tornado Cash developer Alexey Pertsev will be released from jail next week pending trial.

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Matt Kunke, Research Analyst | TwitterTelegramLinkedIn
Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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