Daily Market Update: June 28, 2024

June 28, 2024

BTC is currently trading around $61,000 and ETH around $3,450. Notable gainers in the last 24 hours are AKTENS, and AVAX. The global crypto market cap is $2.39T, down 1.0% over the last day.  DeFi Total Value Locked is ~$96b and BTC dominance is around 54%.

The first US Presidential debate was held yesterday evening, though neither candidate mentioned crypto. While Polymarket bettors ascribe a 99% chance for Trump to win the Republican nomination, Biden’s odds fell significantly over the last day to just a 65% chance of being the Democratic nominee.  Meanwhile, US PCE headline and core inflation came in as expected, both increasing 2.6% over the 12 months ending in May and both down from April’s reading.

Notable news includes: Bolivia’s central bank lifted its ban on cryptocurrency trading and payments; S&P Global Ratings joined Singapore MAS’s Project Guardian to explore asset tokenization; Coinbase and Stripe partnered to bring fiat-to-crypto ramps for customers of both platforms; Manta announced Mountain’s yield-bearing stablecoin wUSDM is now backed by BlackRock’s tokenized US treasuries fund BUIDL; liquid restaking protocol Puffer Finance partnered with the Ethereum Foundation to develop based rollup preconfirmations; and Arbitrum proposed a new transaction ordering policy called Timeboost.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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