Daily Market Update: June 26, 2024

June 26, 2024

BTC is currently trading around $61,700 and ETH around $3,400. Notable gainers in the last 24 hours are NOTFET, and AGIX. The global crypto market cap is $2.40T, up 0.7% over the last day.  DeFi Total Value Locked is ~$96b and BTC dominance is around 55%.

Notable news includes: The US Department of Justice sentenced two individuals for manipulating the price of HYDRO in what marks the first time that a jury in a federal criminal trial found that a token is a security; a bankruptcy court granted FTX approval to solicit votes on its proposed liquidation plan that pays customers based on November 2022 crypto prices; a Hong Kong government research arm released reports on DeFi and the metaverse; Germany continued to send seized Bitcoin to centralized exchanges; Brazilian neobank Nubank partnered with payments platform Lightspark to bring the Bitcoin Lightning Network to its customers; the US spot Bitcoin ETFs saw its first positive inflow day after seven straight days of outflows; SEC Chair Gensler stated that the process for launching Ethereum spot ETFs is “going smoothly”; a VanEck filing showed it will temporarily waive fees for its proposed spot Ethereum ETF; investment manager Investcorp partnered with Securitized to tokenize funds; and, analysts argued Mt. Gox-related BTC selling will be lower than expected as creditors could have sold their claims anytime over the last decade and as an extremely low tax basis will encourage HODLing.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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