Daily Market Update: July 21, 2023

July 21, 2023

BTC is currently trading around $29,900 and ETH around $1,900. Notable gainers in the last 24 hours are MKR, XDC, and DOGE. The global crypto market cap is ~$1.25T, down ~0.9% over the last day. DeFi Total Value Locked is ~$44b and BTC dominance is around 50%.

Notable news includes: FedNow went live in the US servicing early adopting banks and credit unions with 24/7/365 instant payments; Coin Center blasted the new Senate DeFi bill as ‘messy and unconstitutional’; the DoJ accused SBF of leaking Caroline Ellison’s diary in an attempt to discredit her as a witness; Wormhole launched a Cosmos appchain called Gateway that facilitates bridging from 20 different blockchains to any other Cosmos appchain; Paradigm-backed Utopia launched USDC stablecoin bank transfers allowing businesses in many jurisdictions to send USDC directly to a U.S. bank account; Moonbirds Mythics NFTs began their reveal process that will last for at least 200 days; OpenSea unveiled its peer-to-peer NFT swaps platform ‘Deals’; Bitmain launched its first Filecoin mining rig at a nearly $40k price tag; the French Central Bank’s CBDC tests indicated a wholesale CBDC would improve cross-border payments; Indonesia launched its national cryptocurrency exchange; and, Curve omnipool platform Conic Finance was exploited for ~$3.3m of ETH.

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Matt Kunke, Research Analyst | TwitterTelegramLinkedIn
Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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