BTC is currently trading around $102,600, ETH around $2,300, and SOL around $170. Notable gainers in the last 24 hours are PEPE, ENA and JUP. The global crypto market cap is $3.36T, up 2.7% over the last day. DeFi Total Value Locked is ~$113b and BTC dominance is around 64%.
Equity markets are mixed as investors await news from the trade talks between the US and China this weekend. Crypto markets, meanwhile, are higher as they continue riding the momentum from yesterday’s rally.
Notable news includes: the US Senate failed to advance the GENIUS stablecoin act yesterday, with the bill falling 48-49 in a Senate floor vote; the US SEC is considering issuing a potential exemption order allowing firms to issue and trade tokenized securities on blockchains, inspired by regulatory sandboxes in other countries, per a speech by SEC Commissioner Hester Peirce; Meta is reportedly exploring adding stablecoins to its platforms to manage payouts and is in talks with crypto infrastructure companies about the matter; Ripple Labs and the US SEC officially reached a deal to bring their years-long legal battle to a close with a $50m settlement agreement; Coinbase launched 24/7 Bitcoin and Ethereum futures trading in the US; Gemini secured a MiFID II license from Malta, allowing the exchange to offer derivative products across the European Economic Area; Binance founder CZ said he is seeking a presidential pardon from President Trump; Metaplanet announced another $21m bond raise to acquire more Bitcoin; and, Ethereum NFT project Doodles launched its DOOD token airdrop on Solana.
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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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