BTC is currently trading around $58,900 and ETH around $2,500. Notable gainers in the last 24 hours are XRP, TON, and HNT. The global crypto market cap is $2.16T, up 3.4% over the last day. DeFi Total Value Locked is ~$80b and BTC dominance is around 57%.
Markets are higher as US weekly jobless claims came in less than expected to ease recession fears, despite JP Morgan increasing its odds of a US recession by year-end from 25% to 35%. Notably within crypto, a New York judge ordered Ripple to pay a $125m penalty in its lawsuit with the SEC, down substantially from the $2b the SEC requested. Many are viewing the ruling as a win for crypto, and all eyes now turn to whether or not the SEC appeals the ruling.
Notable news includes: a US judge approved a $12.7b settlement between FTX, Alameda Research and the CFTC; Kamala Harris and Donald Trump’s odds of winning the US Presidency are now evenly split on Polymarket; Franklin Templeton expanded its onchain US Treasuries fund to Arbitrum; the spot Bitcoin ETFs returned to positive inflows; WazirX announced the restoration of user balances and reversal of certain trades following last month’s $230m exploit; Bitcoin’s hashprice hit a record low; MetaMask and MultiversX launched a Snap to provide 2FA to MetaMask users; gaming and NFT blockchain Immutable announced the shutdown of its NFT marketplace; Aave and Trident deployed an onchain fixed yield loan product; Ethena Labs launched its USDe synthetic dollar on Solana; memecoin PacMoon rebranded to ARMY and migrated to Solana; and, Telegram mobile clicker game Hamster Kombat teased details about the “largest airdrop in crypto history”.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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