Daily Market Update: October 5, 2023

October 5, 2023

BTC is currently trading around $28,100 and ETH around $1,650. Notable gainers in the last 24 hours are TWT, AAVE, and TON. The global crypto market cap is ~$1.14T, up 1% over the last day. DeFi Total Value Locked is ~$38b and BTC dominance is around 51%.

Notable news includes: the US government’s debt grew by $275b in a single day, corresponding to a daily increase of $1,300 per American; Ripple secured a payments license in Singapore; prediction market Zeitgeist is using CoinDesk indexes to enable broad crypto bets; Polygon co-founder Jaynti Kanani stepped down after six years; MEXC Ventures made an “eight-figure investment” in Toncoin and formed a strategic partnership with the TON Foundation; Immutable released the roadmap to its zkEVM mainnet launch expected early next year; CMCC Global announced its Titan Fund, committing $100m to support Asian blockchain startups; crypto fundraising hit a 3Y low according to Messari; the Nature science journal published an editorial arguing how DAOs can support the funding of scientists; JPMorgan’s crypto lead said 99.9% of their conversations are about tokenized assets; Starbucks is selling Pumpkin Spice Latte NFTs; and, SBF’s jury has been set and his prior inner circle is expected to testify today.

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Matt Kunke, Research Analyst | TwitterTelegramLinkedIn
Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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