Daily Market Update: February 26, 2024

February 26, 2024

BTC is currently trading around $51,700 and ETH around $3,100.  Notable gainers in the last 24 hours are FLR, VET, and THETA.  The global crypto market cap is $2.11T, up 0.8% over the last day.  DeFi Total Value Locked is ~$81b and BTC dominance is around 52%.

Global equity markets and crypto prices are little changed to start the week, which features several key economic reports like US GDP on Wednesday, US PCE on Thursday, and European consumer prices on Friday.

Notable news includes: a US federal judge accepted the guilty plea from Binance and the $4.3b in fines and penalties to settle the case; a US court issued a temporary restraining order prohibiting the Energy Information Administration from requiring crypto miners to respond to their emergency survey about electricity usage; Saudi Arabia launched a metaverse platform to display the country’s cultural heritage; MicroStrategy purchased another $155m of BTC; Avalanche determined that its six hour outage last week was due to inscriptions mints; The Uniswap Foundation authored a governance proposal that would turn on the fee switch for UNI token holders that have delegated and staked their tokens; Binance reported record breaking demand for its Portal staking pools ahead of the cross-chain gaming token’s listing next week; Cosmos developer All in Bits will introduce a new blockchain network GovGen ahead of AtomOne, the controversial proposed fork of the Cosmos Hub; and, decentralized social media platform Farcaster added support for Solana.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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