BTC is currently trading around $23,600 and ETH around $1,650. Notable gainers in the last 24 hours are BTG, ETC, and GRT. The global crypto market cap is $1.12T, up 1.8% over the last day. DeFi Total Value Locked is ~$90b and BTC dominance is around 43%.
Risk markets are continuing yesterday’s rally, relatively unfazed by the worse-than-expected GDP release. Tech is leading the charge forward in equities, propped up by strong earnings reports from Amazon and Apple. Crypto is also extending its impressive recent performance, with Ethereum continuing its leadership. Open interest in Ethereum options hit an all-time high as investors have been using more calls to position themselves for upside ahead of The Merge.
Notable news includes: The Fed and the FDIC issued a joint cease-and-desist letter to Voyager over misrepresenting its depository insurance; U.S. lawmakers called on Apple and Google to provide info on fake crypto apps; a bipartisan bill in the U.S. designed to boost computer chip manufacturing would also establish a crypto advisory role inside the President’s administration; Santander unveiled plans to launch crypto trading services in Brazil; CME crypto futures realized record trading volumes in Q2; Foundry launched a new service to reduce the supply-chain lag for Bitcoin miners; Gemini partnered with Plaid for UK payments; Babel Finance’s proprietary trading desk allegedly lost $280m of customer funds; Arbitrum revealed it has begun testing its Nitro upgrade; Cardano’s Vasil hard fork is expected to be delayed for several more weeks; decentralized exchange Velodrome crossed over $100m in TVL on Optimism; Yuga Labs initiated a 5% royalty payment on Meebits; GSR kickstarted its NFT market making project with a focus on generative art; Axie Infinity’s CEO rejected accusations of wrongdoing as on-chain sleuths discovered he moved $3m of AXS in the hours preceding the attack’s discovery; an ApeCoin proposal to fund a 24-hour BAYC news site received community approval; professional soccer club Crawley Town FC signed a midfielder after an NFT vote; Variant raised a new $450m crypto fund; Sweat Economy raised $13m; and, phishing risks may be escalated as Celsius confirmed its client email list was leaked.
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