BTC is currently trading around $31,800 and ETH around $2,000. Notable gainers in the last 24 hours are WAVES, AXS, and ADA. The global crypto market cap is $1.38T, up 3.7% over the last day. DeFi Total Value Locked is ~$113b and BTC dominance is around 47%.
Crypto markets are rising broadly and equities are mixed across region with US futures being slightly down. Oil breached its highest level since early March following an agreement by EU leaders to partially ban Russian oil, as well as a loosening of Covid-19 restrictions in China. Biden is scheduled for a meeting today with Jay Powell and is expected to be joined by Janet Yellen to discuss the state of the global economy. Later in the week, investors will turn their attention to a slew of employment data releases with a particular focus on Friday’s release of nonfarm payrolls.
Other notable news includes: Bitcoin set a record 9-week losing streak; South Korea indicated their intent to launch a crypto regulatory agency in the wake of the LUNA crash; the city of Shenzhen airdropped 30m digital Chinese Yuan to stimulate consumer spending; the UK government published a consultation paper proposing safeguards around stablecoins; Singapore revealed plans to explore digital asset tokenization on public chains; India’s Department of Economic Affairs is finalizing a consultation paper that would define the nation’s stance on crypto; the Philippines revealed plans to launch a blockchain training program and further explore use cases; an Australian consumer group called for urgent crypto regulation; a new report indicated Russia is considering crypto asset adoption for international payments; Japan’s Prime Minister is reportedly open to crypto tax reform; Copper’s Swiss unit gained regulatory approval from VQF, attesting to their compliance with local AML rules; Ethereum’s Proof-of-Work testnet, Ropsten, launched its Proof-of-Stake beacon chain over the weekend, paving the path towards the merge; Nansen research allegedly debunked the idea of a ‘single attacker’ in Terra’s collapse; Terra 2.0 initially shed >70% of its value after going live over the weekend; a $90m exploit of Terra-based Mirror Protocol went unnoticed for ~7 months; Binance received approval to operate in Italy and revealed plans to establish an office in Milan; Binance also revealed new tech partnerships to tighten KYC controls and sanctions enforcement; FTX announced plans for a multi-billion dollar expansion effort; Fidelity Digital Assets revealed plans to double headcount this year; One River’s spot BTC ETF was rejected by the SEC; Shiba Inu’s pseudonymous founder deleted social media posts and stepped down from the community; Lightning network capacity breached a new all time high; Kava onboarded Sushi with $14m in developer funding; crypto payments firm Merge raised ~10m from Coinbase and Alameda; and; Elon Musk revealed that Space X will begin accepting payments in Dogecoin.
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