Daily Market Update: September 26, 2023

September 26, 2023

BTC is currently trading around $26,200 and ETH around $1,600.  Notable gainers in the last 24 hours are MKR, NEXO, and FXS.  The global crypto market cap is $1.08T, up 0.7% over the last day.  DeFi Total Value Locked is ~$38b and BTC dominance is around 50%.

Notable news includes: a key court in Shanghai recognized Bitcoin as a unique and non-replicable digital asset; Taiwan issued new digital asset guidance, including the banning of unregistered foreign crypto exchanges; Venezuela extended the reorganization of its crypto oversight body until March 2024; Hong Kong announced plans to expand its mBridge CBDC project; The Fed released a research paper on real world asset tokenization; Binance reopened exchange services in Belgium; Gemini revealed plans to expand its presence in India; HTX, formerly Huobi, was hacked for $8m and later launched a secure asset fund for users (SAFU); Binance Japan and Mitsubishi partnered to develop new stablecoins; creditors of failed centralized crypto lender Celsius voted in favor of a plan to return funds and distribute equity through a new company; recently leaked documents showed that Microsoft planned to bring crypto wallets to Xbox as of its May 2022 roadmap; OpenAI announced that ChatGPT will soon “see, hear, and speak”; the creator of Bitcoin Ordinals Casey Rodarmor announced a new, more efficient Bitcoin fungible token protocol called Runes; Friendzy, a fork of friend.tech on Solana, generated nearly half the trading volume of friend.tech in its first week; Bored Ape Yacht Club teased a collaboration with clothing brand BAPE; NASA revealed plans to use blockchain technology to prove its next moon landing is real; and, former Bitboy Crypto host Ben Armstrong was reportedly arrested after a livestream rant outside his ex-business partner’s house.

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

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