Daily Market Update: March 27, 2024

March 27, 2024

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.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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