BTC is currently trading around $37,700 and ETH around $2,100. Notable gainers in the last 24 hours are BLUR, TAO, and PYTH. The global crypto market cap is $1.49T, up 1.4% over the last day. DeFi Total Value Locked is ~$48b and BTC dominance is around 53%.
Notable news includes: Singapore’s MAS published its final response on proposed crypto regulation aimed at curbing retail speculation; the UK published a report outlining how investment funds can utilize tokenization under existing law; the US DOJ filed a motion to block CZ’s return to the UAE over concerns he won’t return for sentencing; Grayscale submitted an amended filing for its proposal to convert GBTC to a spot Bitcoin ETF; GBTC’s discount to NAV fell below 10% for the first time in two years; JPMorgan estimated that GBTC could see $2.7b+ of outflows upon conversion to an ETF; Lido Finance node operator InfStones will temporarily remove its Ethereum validators from the liquid staking protocol and rotate its validator keys after a vulnerability was discovered; and, the number of transactions on Avalanche have skyrocketed 2,000% after it launched a new Ordinals-like token standard allowing arbitrary data to be inscribed on the blockchain.
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Authors:
Matt Kunke, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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