Daily Market Update: Mar 2, 2023

March 2, 2023

BTC is currently trading around $23,300 and ETH around $1,650. Notable gainers in the last 24 hours are LUNC, BSV, and EOS. The global crypto market cap is ~$1.11T, down ~2.1% over the last day. DeFi Total Value Locked is ~$50b and BTC dominance is around 44%.

Notable news includes: Silvergate fell ~45% after delaying its 10-K filing and stating that litigation and regulatory investigations could impact its ability to “continue as a going concern”; Australia announced a CBDC pilot and study for the eAUD; three Japanese banks have partnered to issue a legally compliant stablecoin via the Japan Open Chain; a former Voyager exec warned the platform will likely attempt to clawback customer funds under Chapter 11 bankruptcy rules; Polygon open-sourced its web3 identity solution; Thales deployed its staking model on Arbitrum; Chainlink launched a serverless developer platform to connect web2 APIs to web3; Binance’s AI-powered NFT generator reached 10k mints in less than three hours after launch; crypto investment product AUM reached its highest level since May 2022; the co-founders of Bankless are raising $35m for a crypto VC fund; Figment Capital is seeking to raise $50m for its second venture fund; Provenance Blockchain Foundation announced $50m in grants for blockchain development; Arbitrum DEX ArbiSwap rug pulled users for more than $100k; and, the notorious crypto scamming toolkit Monkey Drainer is shutting down.

Matt Kunke, Junior Strategist | TwitterTelegramLinkedIn
Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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