BTC is currently trading around $97,000, ETH around $1,850, and SOL around $148. Notable gainers in the last 24 hours are IMX, VIRTUAL and KAS. The global crypto market cap is $3.12T, up 0.2% over the last day. DeFi Total Value Locked is ~$102b and BTC dominance is around 65%.
Equity markets are higher and crypto is flattish as investors digest a better-than-expected US nonfarm payrolls report for April, which eased US recession fears, and after China signaled it’s evaluating the possibility of starting trade negotiations with the US.
Notable news includes: US Senate Majority Leader John Thune started the process to expedite senate voting on the GENIUS stablecoin bill; the US House Financial Services and Agriculture Committees will reportedly be releasing a draft market structure bill ahead of May 6; the European Union is set to impose AML rules that will ban regulated institutions from engaging with privacy-preserving tokens and anonymous crypto accounts in 2027; UK’s FCA is seeking public feedback on its approach to crypto regulation as the UK Treasury works on legislation that will bring crypto-related activities under FCA oversight; the US SEC closed its investigation into PayPal’s PYUSD stablecoin; Charles Schwab’s CEO said the firm hopes to launch support for spot crypto trading within the next year; Apple eased iOS app store restrictions around NFTs and payment methods in the US following a court ruling; Kraken announced a new service called Embed that allows financial institutions to offer crypto trading directly to users leveraging Kraken’s infrastructure through a single API integration; Strategy announced it intends to raise $84b through 2027 to fund Bitcoin purchases; dao5 raised $222m for its second fund, bringing its total AUM to $550m; Tether said it plans to launch its US-focused stablecoin by the end of this year or early next year, contingent on stablecoin legislation; a group of Ethereum ecosystem developers announced Ethereum R1, a new layer 2 that will not include a native token, is not venture funded, and will be financed through donations; Sky introduced a governance proposal to replace MKR with SKY as the ecosystem’s sole governance token; and, MapleStory N, the blockchain-based version of popular video game MapleStory, announced it will launch on May 15.
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Author:
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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