Daily Market Update: May 29, 2024

May 29, 2024

BTC is currently trading around $67,600 and ETH around $3,800.  Notable gainers in the last 24 hours are TIA, WIF, and WLD. The global crypto market cap is $2.68T, down 0.4% over the last day.  DeFi Total Value Locked is ~$107b and BTC dominance is around 54%.

Notable news includes: The Bank of Israel announced a Digital Shekel Challenge; the SEC had its case against DEBT Box dismissed without prejudice by a judge; the DTCC, Clearstream, Euroclear, and the Boston Consulting Group released a paper intended to facilitate tokenization adoption; the NYSE announced plans to list Bitcoin options; Gnosis partnered with Visa for a self-custodial Visa Debit Card linked to a Safe smart account; USDC issuer Circle entered the Brazilian market; PayPal’s PYUSD stablecoin launched on Solana; medical device maker Semler Scientific acquired $40m of BTC for its treasury; BlackRock’s IBIT surpassed Grayscale’s GBTC as the world’s largest Bitcoin fund; the LSE’s new crypto ETNs, which are not available to retail, saw very little volume on their first day trading; Riot Platforms acquired a 9% stake in fellow miner Bitfarms and offered to acquire the company for a 24% premium; Luxor and Bitnomial launched a hash rate futures product; Fetch.ai, SingularityNET, and Ocean Protocol announced plans to finalize the Artificial Superintelligence Alliance merger by June; Maple launched Syrup to allow permissionless lending of USDC to institutions; and, FTX’s Ryan Salame was sentenced to 7.5 years in prison.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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