Daily Market Update: Oct 25, 2022

October 25, 2022

BTC is currently trading around $19,300 and ETH around $1,350. Notable gainers in the last 24 hours are TKX, EVMOS, and KLAY. The global crypto market cap is ~$971B, flat over the last day. DeFi Total Value Locked is ~$52b and BTC dominance is around 42%.

Notable news includes: China’s state banks were reportedly ordered to buy stocks to contain market selling; Japanese credit card giant JCB began a CBDC pilot; NEAR is winding down its undercollateralized USN stablecoin, and the Near Foundation has set aside $40m to cover the collateral shortfall; MakerDAO voted to custody $1.6b in USDC with Coinbase to earn 1.5% rewards on the funds; Aave launched a levered staked ETH strategy through Oasis; crypto staking platform Freeway’s token collapsed ~80% as the platform halted withdrawals; Apple updated its app store guidelines to prevent apps from selling NFTs that unlock additional features or content; Bitcoin ASIC manufacturer Canaan introduced its new A13 series rigs; and, the fan token for Brazil’s national team has rallied nearly 30% heading into the World Cup.

Matt Kunke, Junior Strategist | TwitterTelegramLinkedIn
Brian Rudick, Senior Strategist | TelegramLinkedIn

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