Daily Market Update: April 16, 2024

April 16, 2024

BTC is currently trading around $62,000 and ETH around $3,000.  Notable gainers in the last 24 hours are TIA and OKB.  The global crypto market cap is $2.36T, down 4.1% over the last day.  DeFi Total Value Locked is ~$87b and BTC dominance is around 56%.

It’s a light news day as the crypto markets remain suppressed around inflation fears and tensions in the Middle East.

Notable news includes: The recently approved spot Bitcoin and Ethereum ETFs in Hong Kong could go live as soon as this month; Twitter is considering charging new users to post to combat bots; the price of Bored Ape NFTs has fallen 90% in ETH terms from its peak; ETH fell to its lowest level against BTC in three years; the Ethereum validator queue hit its highest level since September 2023; Offchain Labs released BOLD on testnet to enable permissionless validation of Arbitrum chains; and, Curve founder Erogov, who has borrowed $93m of stablecoins across six DeFi protocols, has seen the health of these loans decline as the price of CRV has fallen recently.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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