Trading Desk Market Update: 3/2

March 2, 2022

BTC is currently trading around $43,700 and ETH around $2,950.  Notable gainers in the last 24 hours are CVX, ANC, and RUNE.  The global crypto market cap is $2.01T, down 1.7% over the last day.  DeFi Total Value Locked is ~$212b and BTC dominance is around 44%.

Most global stock markets are down and crypto markets are flattish as Russia has ramped up its attack on key Ukrainian cities.  President Zelensky has asked for more international assistance, while US President Biden condemned the invasion during yesterday’s State of the Union address.  Positively, a second round of peace talks between Ukraine and Russia are set to take place today.  Investors will also be watching US Fed Chair Powell’s testimony before Congress today and tomorrow for clues on whether and how US monetary policy may change in light of the war.

In other news: The government of Ukraine has announced an airdrop as part of its push for crypto donations; The Australian Cyber Security Industry Advisory Committee has advised regulators to begin regulating crypto markets; top Russian bank Sberbank is dropping out of nearly all European markets due to Western sanctions; the CME plans to start trading options on micro bitcoin and ether futures by month end; multi-dealer investor platform SFOX has become the first crypto company to be approved as a Wyoming Trust; payment processor Worldpay has partnered with Shyft Network, a blockchain-based ecosystem enabling the secure sharing of verified attested data for Travel Rule compliance; Terra’s LUNA is now the second-largest staked asset in terms of total value staked after recently passing ether; RUNE is rallying ahead of THORChain’s main net launch and Terra integration; and, Spanish football giant FC Barcelona plans to create its own cryptocurrency.

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