BTC is currently trading around $69,800 and ETH around $3,550. Notable gainers in the last 24 hours are MNT, SUI, and BCH. The global crypto market cap is $2.76T, down 1.0% over the last day. DeFi Total Value Locked is ~$98b and BTC dominance is around 54%.
Notable news includes: Judge Failla denied Coinbase’s motion to dismiss the SEC’s case against the exchange; the US CFTC charged Kucoin with operating an illegal digital asset derivatives exchange; the bitcoin spot ETFs took in $418m of inflows yesterday for its best day in two weeks; The Hashdex Bitcoin Futures ETF (DEFI) was approved to hold spot Bitcoin and intends to invest at least 95% of its assets into spot BTC; HSBC launched retail tokenized gold products in Hong Kong; USDT issuer Tether announced a push into AI; Circle brought its cross-chain transfer protocol to Solana; NFT project Azuki announced it will partner with Arbitrum to launch a blockchain dedicated to anime; Nyan Heroes launched its early access gameplay via the Epic Games Store; Optimism announced it will distribute $3b of OP tokens to developers and projects throughout 2024; NEAR launched Chain Signatures allowing users to sign transactions on supported blockchains from a single NEAR account; FetchAI, SingularityNet, and Ocean Protocol announced intentions to merge to create the world’s largest decentralized AI ecosystem; rollup platform AltLayer enabled ALT staking and initiated the launch of a fast finality service for rollups; Blast-based NFT game Munchables recovered $62m stolen in an exploit; and, illicit funds in the crypto ecosystem fell 9% last year, per TRM Labs.
Sign up to conveniently receive GSR crypto content in your inbox.
Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
This material is provided by GSR (the “Firm”) solely for informational purposes, is intended only for sophisticated, institutional investors and does not constitute an offer or commitment, a solicitation of an offer or commitment, or any advice or recommendation, to enter into or conclude any transaction (whether on the terms shown or otherwise), or to provide investment services in any state or country where such an offer or solicitation or provision would be illegal. The Firm is not and does not act as an advisor or fiduciary in providing this material. GSR is not authorised or regulated in the UK by the Financial Conduct Authority. The protections provided by the UK regulatory system will not be available to you. Specifically, information provided herein is intended for institutional persons only and is not suitable for retail persons in the United Kingdom, and no solicitation or recommendation is being made to you in regards to any products or services.
This material is not a research report, and not subject to any of the independence and disclosure standards applicable to research reports prepared pursuant to FINRA or CFTC research rules. This material is not independent of the Firm’s proprietary interests, which may conflict with the interests of any counterparty of the Firm. The Firm trades instruments discussed in this material for its own account, may trade contrary to the views expressed in this material, and may have positions in other related instruments.
Information contained herein is based on sources considered to be reliable, but is not guaranteed to be accurate or complete. Any opinions or estimates expressed herein reflect a judgment made by the author(s) as of the date of publication, and are subject to change without notice. Trading and investing in digital assets involves significant risks including price volatility and illiquidity and may not be suitable for all investors. The Firm is not liable whatsoever for any direct or consequential loss arising from the use of this material. Copyright of this material belongs to GSR. Neither this material nor any copy thereof may be taken, reproduced or redistributed, directly or indirectly, without prior written permission of GSR.
