Daily Market Update: April 12, 2024

April 12, 2024

BTC is currently trading around $69,500 and ETH around $3,450.  Notable gainers in the last 24 hours are BTT, WLD, and ONDO.  The global crypto market cap is $2.70T, down 1.2% over the last day.  DeFi Total Value Locked is ~$96b and BTC dominance is around 55%.

Notable news includes: Hong Kong may approve the launch of Bitcoin and Ether ETFs as soon as Monday; BlackRock’s spot Bitcoin ETF surpassed $15b in inflows; Grayscale’s CEO stated it will lower GBTC fees once the spot Bitcoin ETFs “start to mature”; SBF appealed his 25-year jail sentence; the Canadian province of British Columbia is seeking to regulate crypto miners’ electricity usage; Bitcoin miner CleanSpark exercised its option to purchase 23 EH/s of Bitmain rigs; Ethereum devs added EIP-3074, which improves wallet UX, to the coming Pectra upgrade; EigenLayer added six new AVSs following the introduction of EigenDA as the first AVS earlier this week; the WorldCoin app hit 10m users; Chainlink introduced native ETH transfers and a new cross-chain messaging app called Transporter; nearly $200m of user funds exited Solana lending protocol MarginFi after its CEO resigned; and, PUPS, a BRC-20 token that will convert to Runes after the new fungible Bitcoin token standard goes live at the halving, is up 50% over the last day and 1,000% over the last week.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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