BTC is currently trading around $93,100, ETH around $1,800, and SOL around $151. Notable gainers in the last 24 hours are SUI, TRUMP and IMX. The global crypto market cap is $3.01T, up 2.6% over the last day. DeFi Total Value Locked is ~$95b and BTC dominance is around 64%.
Equity and crypto markets are higher amid signs of easing trade tensions after President Trump remarked that tariffs on China may come down, and after Treasury Secretary Scott Bessent hinted at the possibility of a deal and cooperation on trade between the two countries. Markets also reacted positively to comments from President Trump clarifying that he has no intention of firing Fed Chair Powell.
Notable news includes: US SEC Chair Paul Atkins said providing a firm regulatory foundation for digital assets will be a top priority for his chairmanship in his remarks during his swearing-in ceremony; the European Data Protection Board published draft guidelines for how personal data should be stored and accessed on blockchains to align with GDPR; former US SEC Chair Jay Clayton, who helmed the agency during the ICO boom, assumed the role of US Attorney for the SDNY; Cantor Fitzgerald, SoftBank, and Tether are jointly launching a $3b Bitcoin treasury company called 21 Capital that aims to mirror Strategy’s approach; PayPal announced it will offer a 3.7% yield on its PYUSD stablecoin starting this summer; Galaxy Digital and CoreWeave expanded their data center partnership; Bitcoin ETFs logged $912m in inflows yesterday; RISC Zero published a whitepaper describing the mechanisms behind their Boundless prover network; Ethereum layer 2 network Scroll deployed its Euclid upgrade, transitioning the network to a stage 1 rollup and enhancing network performance; Fantasy.top launched a new rewards program called Clout which provides incentives based on user activity on X; Floki partnered with Rice Robotics to launch a Floki-branded companion robot called Minibot M1; and, Immutable announced a new web3 strategy card game co-developed with Ubisoft called Might & Magic Fates.
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Author:
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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