BTC is currently trading around $21,100 and ETH around $1,100. Notable gainers in the last 24 hours are EGLD, HNT, and UNI. The global crypto market cap is $0.95T, up 0.5% over the last day. DeFi Total Value Locked is ~$76b and BTC dominance is around 45%.
Global equity markets are down 2-3%, reversing the gains that followed yesterday’s interest rate decision and subsequent press conference. The crypto market is mostly flat while global bond yields are rising behind a slew of economies tightening monetary policy. In addition to yesterday’s 75 basis point hike from the Fed, its largest single meeting rate hike since 1994, the BoE raised rates by 25bps this morning in-line with expectations. The Swiss National Bank however, surprised markets this morning with an unexpected 50 basis point hike, its first hike since 2007. Tomorrow’s eurozone CPI release and a speech from Fed Chair Powell will round out the week of prominent items to watch.
Other notable news includes: Kazakhstan revealed plans to let crypto exchanges open bank accounts; Huobi’s Thailand operation is set to wind down by July 1st; the ECB noted it may cap the supply of its digital euro around 1.5t tokens; FINRA discussed the agency’s plan to recruit laid off crypto employees to increase focus on digital assets; a McKinsey report indicated the metaverse could be worth $5t by 2030; a Bank of America survey revealed 90% of US adults plan to purchase crypto this year; Yahoo revealed plans to launch a series of events in Decentraland for Hong Kong residents under Covid restrictions; trading firm 8 Blocks Capital asked crypto platforms to freeze Three Arrows Capital’s funds to help recover assets after litigation; Chainlink integrated with Moonbeam to provide price data on Polkadot; Maker temporarily disabled Aave’s Dai Direct Deposit Module (D3M); MetaMask and Phantom fixed a vulnerability in their browser extensions; Visa rolled out multiple bitcoin cash-back cards with partners in Brazil and Argentina; the former NYSE president joined Uniswap Labs as an advisor; Ankr announced it has become an RPC provider to Optimism; True Global Ventures doubled down on web3 with a $146m follow-on fund; and, Inverse Finance was exploited for $1.2m in a flash loan attack.
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