Daily Market Update: February 15, 2024

February 15, 2024

BTC is currently trading around $52,200 and ETH around $2,800.  Notable gainers in the last 24 hours are VET, BGB, and HNT.  The global crypto market cap is $2.05T, up 1.6% over the last day.  DeFi Total Value Locked is ~$73b and BTC dominance is around 54%.

Global equity markets are up small, despite the UK and Japan both falling into a technical recession in 4Q, and US consumer spending disappointing in January.  On the latter, the lower than expected retail sales will likely help calm concerns around a strong economy pushing out rate cuts by the Fed.

Notable news includes: A bankruptcy judge cleared Genesis to liquidate roughly $1.3b in GBTC shares to reimburse creditors; Citi collaborated with Wellington Management and WisdomTree to test the tokenization of private assets on Avalanche Spruce; the Bonk DAO proposed to launch the memecoin on one of Europe’s largest fintech platforms, which many are speculating is Revolut; and, CoW DAO is launching an MEV-capturing AMM for liquidity providers.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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