BTC is currently trading around $23,000 and ETH around $1,650. Notable gainers in the last 24 hours are GRT, AGIX, and FET. The global crypto market cap is ~$1.12T, up ~1.4% over the last day. DeFi Total Value Locked is ~$49b and BTC dominance is around 43%.
Notable news includes: Dubai published a new virtual asset rulebook for crypto operators; Binance revealed it will suspend USD bank transfers beginning on Wednesday; Genesis reached an “agreement in principle” on restructuring with DCG, Gemini, and other creditors that will require the sale of Genesis’s lending and trading businesses, and the deal is expected to return ~80 cents on the dollar to creditors; Gemini also committed to contributing up to $100m more to Gemini Earn users; DCG revealed its selling shares of its ETHE fund to raise capital; Revolut launched crypto staking services for its UK and EEA customers; Juno resumed services after a three week pause following the wind down of its former custodian Wyre; early data on Bitcoin Ordinals indicate the NFT project is contributing to higher transaction fees and larger block sizes; a DAO proposal to deploy Uniswap v3 on Boba Network passed; ENS DAO voted to sell ~$17m ETH for USDC via CoW Swap; Trader Joe’s native token is going multichain with a new LayerZero partnership; Lido’s staked ETH surpassed 5m; Bitcoin miners Hut 8 and US Bitcoin Corp announced a merger; Riot reported that ~17k of its mining rigs are offline due to the severe weather in Texas; and, Yuga Labs settled with Ryder Ripps in its trademark lawsuit.
Authors:
Matt Kunke, Junior Strategist | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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