Daily Market Update: June 9 , 2023

June 9, 2023

BTC is currently trading around $26,600 and ETH around $1,850. Notable gainers in the last 24 hours are BSCX, PEPE, and RNDR. The global crypto market cap is ~$1.15T, up ~0.4% over the last day. DeFi Total Value Locked is ~$45b and BTC dominance is around 48%.

Notable news includes: BinanceUS suspended USD deposits and warned of a fiat withdrawal pause as it transitions to a crypto-only exchange in absence of banking support; BitGo signed a term sheet to acquire the equity of Prime Trust; Metamask Institutional integrated with custody tech provider Fireblocks; crypto.com integrated with CoinRoutes smart-order routing system; the U.S. DoJ objected to Bittrex’s plan to repay customers in its bankruptcy proceedings; Paradigm slammed the SEC’s ‘incoherent’ attempt to police DEXs; Ethereum developers cemented the final lineup of EIPs for the ‘Dencun’ upgrade; crypto exchange OKX burned ~$258m OKB tokens in a record quarterly burn; Kraken’s NFT marketplace launched with support for Ethereum, Solana, and Polygon-based collections; decentralized social media project Lens Protocol raised $15m; and, Vitalik Buterin and Polygon co-founder Sandeep Nailwal helped send $100m toward Covid-19 research and medical infrastructure development in India.

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

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