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Trading Desk Market Update: 3/22

March 22, 2022

BTC is currently trading around $42,900 and ETH around $3,000.  Notable gainers in the last 24 hours are BCH, EOS, and HNT.  The global crypto market cap is $2.02T, up 3.6% over the last day.  DeFi Total Value Locked is ~$216b and BTC dominance is around 43%.

Digital assets are shrugging off hawkish comments from US Federal Reserve Chair Powell, who pledged to take the necessary action to reign in inflation during a speech yesterday.  

Other notable news includes: Honduras is reportedly considering making bitcoin legal tender; a deputy minister in Malaysia urged the government to adopt bitcoin and cryptocurrencies as legal tender; ASA, the British advertising watchdog, issued a “red alert” deadline for ~50 crypto firms to get their marketing in order; Goldman Sachs became the first major US bank to make an OTC crypto transaction; the world’s largest hedge fund Bridgewater is preparing to back its first crypto fund; and micro-investing app Acorns has added a bitcoin exposure option.

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