Trading Desk Market Update: 4/29

April 29, 2022

BTC is currently trading around $39,000 and ETH around $2,850.  Notable gainers in the last 24 hours are NEXO, APE, and TRX.  The global crypto market cap is $1.88T, down 2.1% over the last day.  DeFi Total Value Locked is ~$206b and BTC dominance is around 42%.

Notable news today includes: The Central African Republic has adopted bitcoin as legal currency; Cuba’s central bank issued a new directive for VASPs operating in the country to increase crypto regulation; Panama has approved a bill regulating the use of cryptocurrencies and legally recognizing DAOs; a bipartisan group of US lawmakers introduced a bill that would put exchanges and stablecoins under CFTC oversight; The US Department of Labor expressed concerns over Fidelity’s 401k bitcoin plans; The Ukraine government is now accepting NFT donations; Goldman Sachs offered its first ever lending facility backed by bitcoin; Indian e-commerce company Flipkart revealed plans for web3 expansion; Coinbase is launching Coinbase Intelligence to allow companies monitor transactions for compliance and mitigate fraud; The Bitcoin network hashrate hit a new all-time high; supply chain blockchain project VeChain has partnered with Alchemy Pay to enable the VET token for payments in over 2m stores globally; and, APE, the token powering the unofficial DAO tied to BAYC, has rallied ahead of governance votes and the coming Otherside NFT drop.

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