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Trading Desk Market Update: 3/4

March 4, 2022

BTC is currently trading around $41,500 and ETH around $2,750.  Notable gainers in the last 24 hours are JUNO, WAVES, and CELO.  The global crypto market cap is $1.91T, down 4.3% over the last day.  DeFi Total Value Locked is ~$203b and BTC dominance is around 44%.

Equity and crypto markets are down as the fighting in Ukraine continues.  Ukraine’s largest power plant caught on fire after Russian forces reportedly intentionally fired at it.  Elsewhere, investors are eyeing the US employment report and the associated average hourly earnings due out shortly.

In other news: The Swiss city of Lugano has announced that it will recognize BTC, USDT, and its own LVGA Points token as “de facto” legal tender; Brazil’s central bank has selected nine projects to move forward in its quest to develop a CBDC; The US SEC is considering crypto recommendations for its custody rule; The US Department of Justice is creating a task force to enforce Russia sanctions, including targeting efforts to use crypto to avoid them; MetaMask has blocked Ethereum transactions in several jurisdictions citing compliance issues; and, DEX aggregator 1inch has introduced P2P order functionality.

2022.03.04

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