Daily Market Update: June 14, 2024

June 14, 2024

BTC is currently trading around $67,000 and ETH around $3,500.  Notable gainers in the last 24 hours are NOT, UNI, and TON. The global crypto market cap is $2.57T, down 0.9% over the last day.  DeFi Total Value Locked is ~$102b and BTC dominance is around 56%.

It’s a quiet day to end the week, with equity markets down small and crypto prices little changed.  Notably, the Bank of Japan maintained its shot-term interest rate target and monthly bond purchases at its meeting today, though Governor Ueda signaled the potential for a rate hike in July and will detail the central bank’s bond tapering plan at that time.

Notable news includes: a BIS survey found that 94% of central banks are exploring CBDCs; an Indian high court ruled that crypto dealings are not illegal; 24 digital asset firms banded together to create self-regulatory standards in Taiwan; crypto-friendly FlowBank declared bankruptcy; the TON blockchain surpassed Ethereum in daily active addresses; leading memecoins have fallen 10-25% this week amidst the crypto market drop; and, rapper Lil Pump tattooed Solana on his forehead and promoted his own memecoin.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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