BTC is currently trading around $35,000 and ETH around $1,850. Notable gainers in the last 24 hours are MANA, UNI, and AAVE. The global crypto market cap is ~$1.35T, up 1.2% over the last day. DeFi Total Value Locked is ~$43b and BTC dominance is around 54%.
The market rallied sharply yesterday afternoon during Fed Chair Powell’s press conference in what many are calling a dovish pivot. Equities moved ~1% higher and bitcoin rallied more than 2% while 10Y yields plummeted to ~4.65%, sharply lower than the local high of 5% reached just two weeks earlier. Crypto prices have trended sideways since yesterday afternoon’s gains, but equities and bonds continue to tick higher. Elsewhere, the BoE similarly paused this morning, and investor attention will shift to Apple’s earnings report after the bell.
Notable news includes: PayPal received a subpoena from the SEC’s enforcement division related to its USD-pegged stablecoin, PYSUD; the DOJ unsealed an indictment charging three SafeMoon executives with fraud, and the SEC bolted on civil charges as well; Pyth Network announced a broad sweeping airdrop with eligibility tied to the usage of a wide array of cross-chain apps that leverage Pyth’s oracle network; EigenLayer launched a voting contest for liquid staking token issuers hoping to secure its next restaking integration; ProShares announced the launch of its short ETH futures ETF; Bitcoin miner Marathon is test piloting a program to mine BTC with methane gas from waste landfills; and, GBTC’s discount fell to a nearly two-year low.
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