Daily Market Update: April 23, 2024

April 23, 2024

BTC is currently trading around $66,200 and ETH around $3,150.  Notable gainers in the last 24 hours are AKT, ZBC, and KAS.  The global crypto market cap is $2.55T down 0.4% over the last day.  DeFi Total Value Locked is ~$95b and BTC dominance is around 55%.

Notable news includes: Hong Kong officials recommended a self-regulatory committee for crypto industry compliance monitoring; a WEF study found that 98% of central banks are eyeing CBDCs; Chile announced it will begin proof-of-concept testing for a CBDC; Venezuela is reportedly using USDT to bypass US sanctions; the SEC filed a motion requesting $5.3b in disgorgement and civil penalties from Terra creator Terraform Labs and Do Kwon; Ripple Labs filed its rebuttal to the SEC’s push to have the firm pay ~$2b in penalties for selling XRP to institutional investors; two SEC lawyers resigned following the Debt Box sanctions; Twitter revealed future payments functions of its app will include sending money, buying goods and services, and earning interest; bankrupt crypto exchange FTX will auction off the rest of its locked Solana tokens; Gate.io and Magic Eden began offering trading of Runes; Woo X introduced the first tokenized T-bill for retail available on a centralized exchange; Cardano announced the launch of PRAGMA, an association supporting the creation of developer tools and infrastructure; Polkadot parachains briefly stopped producing blocks due to a network upgrade; Bitcoin scaling solution Stacks began the first phase of its Nakamoto upgrade, which will officially launch in May; the developers of the Celo blockchain chose the OP Stack for the project’s migration to Ethereum as a layer 2 and the decision will now be put to a community vote; decentralized computing protocol io.net and DePIN platform Aethir committed $100m to democratize global supercomputing access; and, Apecoin holders passed a proposal to launch ApeSwap, a native ApeChain DEX.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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