Trading Desk Market Update: 3/31

March 31, 2022

BTC is currently trading around $47,200 and ETH around $3,400.  Notable gainers in the last 24 hours are ZIL, STEPN, and SNX.  The global crypto market cap is $2.26T, up 1.0% over the last day.  DeFi Total Value Locked is ~$231b and BTC dominance is around 42%.

Notable news includes: The EU’s broad crypto regulatory bill, MiCA, entered the next phase of negotiations today; Ted Cruz introduced legislation prohibiting the Fed from directly issuing a CBDC; Kraken users revealed Bitcoin Lightning Network integration; Sky Mavis, the company behind Axie Infinity, pledged to reimburse all hack victims; Cross River Bank raised $620m led by Eldridge & a16z; Helium raised $200m and rebranded as Nova Labs; LayerZero Labs achieved unicorn status in recent $135m raise; Hashdex went live with a Web3 ETF on Brazil’s stock exchange; NFT marketplace OpenSea announced they will support Solana NFTs beginning in April; Polkadot parachain Acala revealed plans to integrate with the Wormhole bridge; and, Bitcoin mining difficulty hits new all time high.

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