Daily Market Update: April 24, 2024

April 24, 2024

BTC is currently trading around $66,400 and ETH around $3,250.  Notable gainers in the last 24 hours are HBAR, BONK, and WIF.  The global crypto market cap is $2.58T up 1.0% over the last day.  DeFi Total Value Locked is ~$95b and BTC dominance is around 55%.

Notable news includes: Kenya established a multi-agency group to create crypto regulation; the US Department of Justice recommended a three-year prison sentence for Binance founder CZ ahead of his April 30th sentencing; lobbying group the Blockchain Association sued the US SEC for expanding the definition of a dealer to include DeFi; the Nigerian central bank announced it will freeze Bybit, KuCoin, OKX, and Binance user accounts; Tether stated it will freeze USDT linked to US sanctions evasion in Venezuela; hackers exposed the code of El Salvador’s state-run Bitcoin wallet Chivo; Grayscale and BlackRock updated their spot Ethereum ETF applications; US spot Bitcoin ETFs have seen three straight days of inflows as GBTC outflows were relatively muted; Tokyo-based financial services company Monex Group completed the acquisition of Canadian crypto asset manager 3iQ; Mt Gox creditors are sharing updates on the claimants Reddit page, causing some to predict the return of 142,000 BTC could begin in earnest soon; mining pool ViaBTC began an auction for the Epic Sat it received after mining the first block after the halving; Samsung invested in wifi-focused DePIN project Roam; HBAR spiked after Archax tokenized a BlackRock money market fund on the Hedera blockchain, but gave back most gains after it was revealed that BlackRock had nothing to do with it; Cosmos developers fixed a critical security bug that could have put $125m at risk; and, Solana DEX aggregator Jupiter acquired Ultimate Wallet to support its mobile expansion.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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