BTC is currently trading around $59,400 and ETH around $2,550. Notable gainers in the last 24 hours are FLR, RUNE, and EGLD. The global crypto market cap is $2.18T, down 0.8% over the last day. DeFi Total Value Locked is ~$84b and BTC dominance is around 57%.
Crypto prices are down slightly with a number of mixed drivers. Positively, solid US economic data eased worries of a coming US recession and the spot Ethereum ETFs returned to positive inflows after nine straight days of net outflows. Negatively, however, tech stocks continued their mixed performance, with several notable names bouncing after a tough start to the week, but Nvidia falling 6% after its earnings beat and raise failed to impress. All eyes now turn to tomorrow’s inflation reports out of Europe and the US.
Notable news includes: a BIS working paper warned that banks transacting on permissionless blockchains face multiple risks; Donald Trump stated he will announce a plan to make the US the “crypto capital” of the world; Japanese financial conglomerate SBI Holdings partnered with gaming-focused blockchain Oasys to push blockchain gaming; Telegram CEO Pavel Durov was released from French custody on €5m bail; the TON blockchain came back online following a second outage; Bloomberg integrated Polymarket data into its Terminal; Forbes launched an NFT-gated member community with OKX; Binance and Bybit teased possible Solana liquid staking products; the Nigerian SEC issued its first crypto exchange licenses; Finschia and Klaytn deployed their Kaia layer 1 blockchain with intentions to leverage their associated Line and Kakao messaging platforms; and, Bitcoin layer 2 network Stacks began its Nakamoto upgrade.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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