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MicroStrategy Announces Digital ID Product, LayerZero Takes Snapshot for Airdrop

May 2, 2024
Author
Sean Farrell
Sean Farrell AC
Market Update We are finally starting to see some relief in interest rates and the #DXY following yesterday's FOMC meeting and the Treasury's quarterly refunding announcement. #BTC has rebounded from yesterday's low of $56.5k and is now trading just above $59k, while #ETH is attempting to break through $3k resistance. #SOL has outperformed, gaining 10% compared to BTC yesterday and is now trading just below $140. The market is showing decent breadth today, with a wide range of assets participating in the rally. Notable outperformers include #AR, #W, #PEPE, #OP, #IMX, and #BONK. Despite significant outflows from Bitcoin ETFs yesterday, the sustained and wide Coinbase discount we observed has shifted into premium territory, suggesting that we might see a reversal of flows today. Rates are lower across the entire curve, and the DXY has dipped below 106. Both the $QQQ and $SPX are up on the day as investors await a critical #AAPL earnings call after the close. For the crypto cohort, $COIN is also set to report after the close.MicroStrategy ($MSTR), the largest corporate holder of bitcoin, has launched "MicroStrategy Orange," a service for developing decentralized identities using the Bitcoin blockchain and Ordinals inscriptions. Announced by founder Michael Saylor at their Bitcoin F

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