BTC is currently trading around $67,900 and ETH around $2,600. Notable gainers in the last 24 hours are DOGE, BEAM, and MOG. The global crypto market cap is $2.43T, up 1.0% over the last day. DeFi Total Value Locked is ~$88b and BTC dominance is around 59%.
Equity markets are flat outside of stocks in China, which are rallying on slightly stronger-than-expected 3Q GDP, comments by President Xi Jinping that China should lead in technology development, and the commencement of previously-announced PBOC re-lending and swap facilities. Elsewhere, Israeli military forces killed Hamas’s political leader, though it is unclear how this may impact negotiations for a cease-fire in the region.
Notable news includes: A free economic zone in the UAE revealed a forthcoming legal framework for DAOs; the SEC filed Form C to officially appeal the decision in its case against Ripple but did not challenge XRP’s non-security status; 16% of US voters prioritize pro-crypto candidates according to a Digital Chamber survey; Montenegro will reportedly make a decision regarding the extradition of Do Kwon by Sunday; hybrid exchange Cube announced a partnership with the Argentine government; Singapore’s DBS Bank introduced new blockchain-powered services for institutional clients; Paypal announced that US customers can now buy digital assets using Venmo; the spot Bitcoin ETFs saw over $2.1b of inflows over the last five trading days; Ethereum devs officially included EIP-7742 in the coming Pectra upgrade to dynamically set blob inputs; Worldcoin rebranded to World and revealed alternative methods to get verified; and, Solv launched its Bitcoin liquid staking token on Solana.
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Author:
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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