BTC is currently trading around $22,200 and ETH around $1,500. Notable gainers in the last 24 hours are GMT, ETC, and APE. The global crypto market cap is $1.06T, up 4.7% over the last day. DeFi Total Value Locked is ~$83b and BTC dominance is around 43%.
Risk markets are having a strong day as global equities and crypto are rallying alongside a rise in global bond yields. Ethereum extended its rally as investor optimism continued to rise ahead of The Merge, and over $300m of short ETH positions were liquidated over the weekend. It’s a lighter week for economic data, and investors will likely focus on a slew of corporate earnings releases throughout the week.
Notable news includes: Russia banned cryptocurrency payments, hardening a stance taken in early 2021; The Central African Republic revealed plans to launch the Sango bitcoin sidechain; Andorra approved the Digital Assets Act which introduces a regulatory framework for cryptocurrency in the country; Paraguay’s crypto framework is one step away from becoming law; Australia’s central bank chief revealed his belief that regulated private tokens may be better than CBDCs; Coinbase obtained a crypto asset service provider approval in Italy; House and Senate Democrats in the U.S. asked regulators to force crypto miners to declare their energy usage and emissions; crypto VC funding in June was the lowest since August 2021; Voyager requested permission from a federal bankruptcy court to honor customer withdrawals; Otherside’s metaverse demo kicked off w/ 4,500 participants; Rocket Pool revealed plans to launch an institutional staking-as-a-service offering; Empiric Network, a decentralized oracle on StarkNet, raised $7m; and, over $150k of NFTs were stolen as NFT artist DeeKay’s Twitter was hacked.
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