BitDigest March 19 · Issue #618
- Crypto markets are late to celebrate St. Patrick’s Day, but shining green this morning. Excluding dollar pegged stable coins, the top 50 digital currencies on Coinmarketcap.com are all in positive territory over 24-hours
- Singapore’s financial watchdog has released updated AML guidelines covering virtual assets
- South Korea and Canada are preparing own oversight regimes ahead of the G7’s upcoming FATF implementation deadlines
Every few days I ending up talking about one of the North American public companies participating in the digital currency ecosystem. While I will continue to report on their respective corporate announcements, I am going to start providing the following basic chart every week to show key market data. I am happy to consider adding names to this list.
The Headlines
Singapore Updates AML Crypto Guidelines
Canada to Increase Crypto Oversight and Surveillance
South Korea Preparing for FATF Crypto Framework
Hawaii Launched Digital Currency Innovation Lab
Gemini Growing European Team
Market Data
Bitcoin Activity Increasing
Competition Among Miners Increasing as Pool Dominance Subsides
Exchange, Custody and Product News
Huobi to Eliminate Sudden Liquidations of Leveraged Positions
BitGo Increasing Insurance Coverage Over $100M
Binance Introduces Peer-to-Peer Trading for South American Currencies
Thoughts on the Ecosystem
BitMEX Questions Regulatory Approval of Central Bank Digital Currencies
Bitcoin Will Still 'Moon'
Reports you may have missed
MARKET COMMENTARYU.S. EQUITIES ARE RELATIVELY FLAT AS THEY CONSOLIDATE ABOVE PRIOR ALL-TIME HIGHS. THE SPX IS TRADING AT 5,300, AND THE NDQ IS HOVERING NEAR $18,600, WHILE THE DXY 0.00% (-0.07%) IS SHOWING A SLIGHT DECLINE, TRADING AT $104.4. Crypto assets are showing strength, with BTC 0.02% rising 2.84% to $67.1k and ETH 0.28% surging 4.86% to $3,090. Liquid staking tokens are building on Ether's outperformance, as LDO -2.75% and PENDLE 12.73% have gained 10.11% and 13.43%, respectively. Similarly, layer-2...
CRYPTO MARKET UPDATETODAY, WE ARE SEEING SOME MINOR CONSOLIDATION IN THE CRYPTO MARKET COINCIDING WITH THE SLIGHT BOUNCE IN THE RATES AND DXY 0.00% . BTC 0.02% is trading just north of $65k, while ETHBTC continues to struggle, with ETH 0.28% moving lower for the 5th consecutive day and still trading below the $3k mark. Despite the market consolidation, SOLBTC is still green on the day as SOL 5.07% works to regain the $160 level....
MARKET COMMENTARYINVESTORS WELCOMED THIS MORNING’S SLIGHTLY SOFTER THAN EXPECTED CPI DATA AND A LARGE DOWNSIDE MISS ON U.S. RETAIL SALES, ALLEVIATING INFLATION CONCERNS AND HELPING TO PROPEL STOCK INDICES TO NEW INTRADAY ALL-TIME HIGHS. The SPY 0.33% and QQQ 0.62% have gained over 1% to surpass $528 and $451, respectively, while US treasury rates have turned significantly lower, with the US10Y dropping below 4.34%. Crypto is responding in similar fashion with BTC 0.02% ...
Tornado Cash Developer Sentenced to 5 Years in Prison, LayerZero Succeeding Against Sybils
CRYPTO MARKET COMMENTARYAPRIL PPI CAME IN MIXED THIS MORNING, WITH A LARGE UPSIDE SURPRISE IN MOM READINGS (0.5% VS. 0.3% EXP.) AND YOY METRICS LARGELY IN LINE WITH EXPECTATIONS. The upside in the MoM reading was offset by March figures being revised downwards. Yields initially spiked upon the data release but have turned negative across the curve. Equities are showing mild gains as attention shifts towards tomorrow’s CPI data release. The SPY 0.33% has gained 0.17% and the QQQ 0.62% has gained 0.31%. Crypto assets are...