BTC is currently trading around $63,100 and ETH around $3,300. Notable gainers in the last 24 hours are FTM, APT, and ICP. The global crypto market cap is $2.52T, down 4.8% over the last day. DeFi Total Value Locked is ~$92b and BTC dominance is around 54%.
Crypto prices are down after the spot Bitcoin ETFs experienced a fourth consecutive day of outflows. The outflows this week have been due to both subdued Newborn Nine inflows relative to history as well as elevated GBTC outflows that totaled $1.8b over the four days. Positively, Bloomberg ETF analyst Eric Balchunas suggested March’s elevated outflows may be due to one party and that the worst of the outflows may be close to being over.
Notable news includes: Estonia passed legislation to regulate crypto service providers; Japan’s largest telecom provider NTT announced plans to launch a crypto wallet; WisdomTree was granted an NYDFS trust company charter; OKX and Immutable announced a strategic alliance for a dedicated GameFi launchpad on OKX’s NFT marketplace; Worldcoin ended storing users’ personal data and instead will put user biometric data on user devices; decentralized stablecoin project Frax moved forward to reinstate the fee switch; the Heco Bridge exploiter laundered over $145m of ETH via Tornado Cash; and, Floki developers announced plans to add regulated bank accounts.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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