Trading Desk Market Update: 3/23

March 23, 2022

BTC is currently trading around $42,400 and ETH around $2,950.  Notable gainers in the last 24 hours are LRC, HEART, and XRD.  The global crypto market cap is $2.00T, down 0.6% over the last day.  DeFi Total Value Locked is ~$214b and BTC dominance is around 43%.

Notable news includes: Thailand’s SEC has banned the use of crypto as a means of payment, though investing and trading in digital assets remains legal; El Salvador has reportedly postponed its bitcoin bond to as late as September; Volvo’s parent company and Concordium have formed a joint venture to develop blockchain technology for the automotive industry; Chip supplier Qualcomm has created a $100m metaverse investment fund; Investment bank Cowen has launched a digital asset unit named Cowen Digital; will serve as a sponsor of this year’s World Cup; and, Bored Ape Yacht Club creator Yuga Labs raises $450m at a $4b valuation.

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