Trading Desk Market Update: 4/7

April 7, 2022

BTC is currently trading around $43,500 and ETH around $3,200.  Notable gainers in the last 24 hours are XIDO, HBAR, and MINA. The global crypto market cap is $2.11T, down 2.6% over the last day.  DeFi Total Value Locked is ~$223b and BTC dominance is around 42%.

Notable news includes: U.S. Senator Toomey drafted a bill to exempt stablecoins from security regulations; Treasury Secretary Yellen said crypto rules should match traditional financial system; Bank of England’s fintech chief departed to join Fireblocks; Meta plans to introduce non-crypto virtual tokens; Coinbase’s trading platform rolled out in India; Binance US secures $200m in seed funding; Wintermute revealed plans to launch a zero-fee OTC trading platform; payments company Bolt acquired crypto startup Wyre for $1.5b; MicroBT unveiled new series of Whatsminer Bitcoin mining rigs; Ubisoft to expand Tezos NFT initiative to other games; crypto lending platform Nexo launched prime brokerage services; ProShares filed for an inverse Bitcoin Futures ETF; Yearn unveiled new tokenized vault standard ERC-4626; and, Sky Mavis released early access to Axie Infinity: Origin.

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