BTC is currently trading around $28,300 and ETH around $1,800. Notable gainers in the last 24 hours are SXP, FXS, and RPL. The global crypto market cap is ~$1.23T, down ~0.1% over the last day. DeFi Total Value Locked is ~$50b and BTC dominance is around 48%.
Markets are mixed and generally little-changed, with oil being the notable exception as WTI and Brent rallied more than 5% after a surprise ~1.2m bbl/d supply cut from OPEC+ members. The supply cut will add to inflationary pressures in the already challenging macro backdrop. Lastly, despite a short week in many countries for Good Friday, the week’s headline nonfarm payroll release will still come on Friday morning.
Notable news includes: Uniswap v3’s code is now free to fork after its BSL license expired on April 1st; the U.S. government sold nearly ~10k bitcoin on March 14th that it seized following last year’s arrest of James Zhong, and the U.S. government intends to liquidate the remaining ~41.5k bitcoin in four tranches over the rest of the calendar year; Arbitrum fell over the weekend as the Arbitrum Foundation sold ARB tokens ahead of its so-called ratification vote, casting a widely negative light on its governance process; SBF pleaded Not Guilty to new charges that included bribing Chinese officials; Bittrex announced it will halt U.S. operations by the end of April due to the unfavorable regulatory environment; Japanese regulators warned that Bybit, Bitget, BitForex, and MEXC are operating without registration in the country; The Block reportedly laid off ~33% of its staff, and the firm’s VP of Research, Larry Cermak, was appointed as the new CEO; Nomura-backed Komainu plans to offer a regulated and segregated collateral management product for institutional clients; Re7 Capital and Republic Crypto launched a $100m fund for investing in liquid tokens; Alchemy Pay raised $10m at a $100m valuation; and, a group of MEV bots lost more than $25m in a sophisticated block proposer attack.
Matt Kunke, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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