BTC is currently trading around $41,100 and ETH around $2,800. Notable gainers in the last 24 hours are XIDO, CAKE, and CELO. The global crypto market cap is $1.91T, up 2.6% over the last day. DeFi Total Value Locked is ~$205b and BTC dominance is around 43%.
BTC is up 2% over the last day and global equity markets rose after Ukrainian President Zelensky said peace talks with Russia were beginning to “sound more realistic” yesterday and the Federal Reserve increased short rates for the first time since 2018, sparking a relief rally. The Fed’s dot plot showed expectations for six more rate hikes this year and three more in 2023, while Chair Powell hinted during the post-meeting press conference that balance sheet reduction could begin in May. In Europe, the Bank of England hiked interest rates for the third time in a row, and expressed concerns that the war in Ukraine will push inflation even higher.
In other news: Ukrainian President Zelensky signed a law legalizing crypto; a group of top EU regulators issued a warning to consumers stating that crypto assets are “highly risky”; The European Commission announced a call for tenders to contract a consortium for a regulatory blockchain sandbox; The Bank of Canada and MIT announced a collaborative research project on CBDCs; a bipartisan group of US Congress members sent a letter to SEC Chair Gensler expressing concerns with the SEC potentially stifling crypto innovation; Bored Ape Yacht Club formally announced ApeCoin; and, Terra co-founder Kwon revealed ambitions for a $10b BTC reserve to backstop UST.
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