BTC is currently trading around $61,200 and ETH around $2,500. Notable gainers in the last 24 hours are W. The global crypto market cap is $2.24T, down 5.4% over the last day. DeFi Total Value Locked is ~$85b and BTC dominance is around 58%.
Equity markets are down while oil is higher amidst rising tensions in the Middle East. Specifically, Iran launched a missile attack on Israeli security and military targets earlier today in response to the killing of a Hezbollah leader. While crypto prices are down in sympathy with equities, there was positive news out of Japan as the country’s next prime minister, Shigeru Ishiba, revealed a desire to foster blockchain technology and NFTs in an official policy document. In addition, the yen has weakened against the US dollar after initial appreciation in the wake of Ishiba’s PM selection, challenging the oft-reported notion that the market believes Ishiba may push for near-term rate hikes.
Notable news includes: The European Blockchain Sandbox Initiative revealed that 41 authorities and regulators joined its second cohort; the state-owned Indonesian postal service launched postage stamps with NFT counterparts; the South Korean state pension fund stated it has no plans to invest in crypto assets after it bought Coinbase and MicroStrategy stocks “automatically”; the Chicago Mercantile Exchange launched the trading of its Bitcoin Friday Futures (BFF) contracts; Ripple became the first blockchain-based payments service provider to obtain a license from Dubai’s DFSA; Robinhood enabled crypto transfers in Europe; Gemini revealed plans to exit Canada; Circle collaborated with MHC Digital to expand USDC access in the APAC region; Cardano-based stablecoin USDA chose BitGo for custody services; crypto think tank Coin Center announced senior staff departures set for year-end; EigenLayer’s native token became transferable and debuted at a $7b valuation; and, a snapshot vote to reboot Synthetix governance garnered 99.9% support thus far.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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