Daily Market Update: April 9, 2024

April 9, 2024

BTC is currently trading around $70,500 and ETH around $3,600.  Notable gainers in the last 24 hours are CKB, TON, and THETA.  The global crypto market cap is $2.78T, down 1.5% over the last day.  DeFi Total Value Locked is ~$104b and BTC dominance is around 54%.

Notable news includes: Tokyo-listed Metaplanet (3350) rose ~90% in two days after adding $6.6m BTC to its balance sheet; US spot Bitcoin ETFs saw $224m of net outflows yesterday driven by $303m of GBTC outflows; the US SEC postponed its decision on allowing options trading on the spot Bitcoin ETFs; a US appeals court partially reversed a decision to dismiss a 2021 customer lawsuit against Coinbase for allegedly facilitating the trading of unregistered securities; Binance is said to be considering a few jurisdictions for its global headquarters; crypto exchange HashKey announced plans to launch an Ethereum L2; DEX aggregator 1inch announced the launch of a crypto debit card; Maker raised its debt ceiling to $1b for Dai allocations in USDe and sUSDe markets through Morpho; several projects on Solana delayed their launches due to congestion on the network; and, the trial for the Mango Markets exploiter Avi Eisenberg starts today.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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