BTC is currently trading around $36,800 and ETH around $2,100. Notable gainers in the last 24 hours are TIA, BGB, and FIL. The global crypto market cap is ~$1.46T, down 0.6% over the last day. DeFi Total Value Locked is ~$47b and BTC dominance is around 52%.
Asset prices are mostly lower to kickstart the week. Moody’s lowered its ratings outlook for the US government after Friday’s close, citing weak fiscal positioning as concerns of a US government shutdown return heading into Friday’s funding deadline. European equities are a notable exception to performance, realizing modest gains with broad participation across sectors. It’s a busy week for economic data releases, featuring US, UK, and EU CPI, as well as US PPI, US retail sales, and Japanese GDP.
Notable news includes: Foresight Ventures acquired a majority stake in The Block and funds were primarily used to buy out former CEO Mike McCaffrey’s ownership; Ondo Finance partnered with Axelar to introduce a bridge supporting native issuance of its onchain treasury token (USDY) across several different blockchain networks; BRC-20 tokens neared a ~$1.5b market cap while Bitcoin miners generated the most single-day revenue of the year due to increased transaction fees; Aave’s lending market resumed normal operations after being halted due to a security vulnerability; Near Foundation partnered with Eigen Labs to help create cheaper transactions for Ethereum rollups; and, Grayscale’s Solana Trust surged to a nearly ~800% premium vs. its NAV.
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