BTC is currently trading around $58,700 and ETH around $2,500. Notable gainers in the last 24 hours are HNT, UNI, and OM. The global crypto market cap is $2.15T, up 0.1% over the last day. DeFi Total Value Locked is ~$82b and BTC dominance is around 57%.
Crypto prices were fairly stable over the weekend amidst little news, while global equity markets are mixed with US markets closed today. Traders will be paying particularly close attention to various economic data releases this week as they could potentially impact the size of the likely Fed rate cut at its meeting in two weeks. These data releases include the US ISM manufacturing and services PMIs on Tuesday and Thursday, Eurozone retail sales on Thursday, and the US employment report on Friday.
Notable news includes: Qatar announced a regulatory framework for digital assets in its Qatar Financial Centre business area; the SEC stated in a filing that it reserves the right to object to proposals by the FTX administrators to pay debtors in crypto; Wells Fargo, which manages $1.7b in client assets, allowed financial advisors to begin pitching the spot Bitcoin ETFs to clients this month; digital asset investment products saw $305m of outflows last week, per CoinShares; monthly NFT sales hit a year-to-date low in August; Yuga Labs unveiled an internal The Workshop team focused on creating products for ApeChain and its dapps; Cardano successfully underwent its Chang hard fork to decentralize governance; and, Cardano founder Charles Hoskinson announced plans to launch a decentralized social media platform in Brazil after Brazil banned Twitter / X in the country.
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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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