Trading Desk Market Update: 3/24

March 24, 2022

BTC is currently trading around $42,800 and ETH around $3,000.  Notable gainers in the last 24 hours are AXS, ADA, and DOGE.  The global crypto market cap is $2.04T, up 1.7% over the last day.  DeFi Total Value Locked is ~$216b and BTC dominance is around 43%.

Notables news includes: The BIS has partnered with four central banks to create prototypes for an international multi-CBDC settlement platform; The European Parliament approved a five-year pilot program to test stock and bond issuance, trading, and settlement via blockchain technology; Honduras has pushed back against rumors it will adopt bitcoin as legal tender saying that “for the time being” bitcoin was not regulated and not recognized as legal tender; ANZ Bank has minted the first AUD-denominated stablecoin dubbed A$DC; Bitcoin’s correlation with the S&P 500 is the highest its been in 17 months, per Arcane Research; Meta filed eight trademark applications for its logo to cover a range of digital purposes, including tokens, wallets, and exchanges; Japanese social media giant Line revealed plans to launch an NFT marketplace; and, the beta version of GameStop’s NFT marketplace has gone live.

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