Daily Market Update: June 4, 2024

June 4, 2024

BTC is currently trading around $69,900 and ETH around $3,800.  Notable gainers in the last 24 hours are KAS, JASMY, and ORDI. The global crypto market cap is $2.73T, up 0.0% over the last day.  DeFi Total Value Locked is ~$107b and BTC dominance is around 55%.

Notable news includes: a US House subcommittee will discuss the potential of real world asset tokenization tomorrow; Thailand approved a Bitcoin ETF for institutional and high net worth investors; the US spot Bitcoin ETFs have now seen 15 straight days of inflows; Bitcoin mining firm Core Scientific signed a $3.5b deal with cloud provider CoreWeave for high performance computing services; Bitcoin’s seven-day moving average hash rate fell 14% over the last week, its steepest such decline since mid-2021; StarkWare launched a research fund to scale Bitcoin with zero knowledge proofs; blockchain interoperability platform Connext rebranded to Everclear and announced plans to develop a clearing layer for intent-based bridges; and, Watford FC announced plans to offer a 10% equity stake in the football club to fans via tokens.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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