Trading Desk Market Update: 3/11

March 11, 2022

BTC is currently trading around $39,500 and ETH around $2,650.  Notable gainers in the last 24 hours are STX, RUNE, and KDA.  The global crypto market cap is $1.84T, up 0.7% over the last day.  DeFi Total Value Locked is ~$202b and BTC dominance is around 43%.

Notable news includes: Russian President Putin stated that negotiations with Ukraine are happening daily and that there was “positive movement”; The Bank of Israel has published draft guidelines for crypto deposits; The UK FCA has ordered crypto ATM operators to shut down; the US Department of Labor has warned of risks regarding crypto retirement plans; the Jamaican central bank will airdrop its CBDC to early users to promote adoption; The Eastern Caribbean Central Bank’s CBDC DCash is working again after a two month outage; fintech giant Stripe has launched a crypto suite of products for businesses including fiat payments for digital assets and NFTs; e-commerce heavyweight eBay is exploring adding “new forms of payment” and will launch a digital wallet next quarter; Softbank’s tech division will launch its own NFT marketplace; sneaker brand Sketchers plans to build a store in Decentraland; and, the Ethereum 2.0 deposit contract has surpassed 10m ether staked.

2022.03.11

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