Daily Market Update: February 21, 2024

February 21, 2024

BTC is currently trading around $51,200 and ETH around $2,900.  Notable gainers in the last 24 hours are SC, FET, and BNB.  The global crypto market cap is $2.04T, down 0.9% over the last day.  DeFi Total Value Locked is ~$75b and BTC dominance is around 53%.

Global equity markets and yields are mixed as investors await the FOMC meeting minutes and Nvidia earnings, both scheduled for later today.

Notable news includes: Turkey released a report evaluating the first phase of its CBDC initiative; Hong Kong stated it will submit bills related to stablecoins and OTC crypto trading as soon as practical; Circle discontinued support for USDC on Tron citing “risk management”; Coinbase International Exchange hit $1b in daily trading volume; Walmart expanded the availability of Pudgy Toys to 1,100 more stores; the Stellar blockchain completed its Protocol 20 upgrade to add smart contract functionality; Polygon partnered with Animoca and Human Institute to develop a palm-based ID verification solution; Wormhole announced it will use AMD’s FPGA hardware accelerators to scale cross-chain messaging with zero knowledge proofs; liquid restaking protocol Puffer Finance gathered over $1b in deposits in less than three weeks; and, the first prison photo of former FTX CEO Sam Bankman-Fried was released.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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