๐ Daily Crypto Market Update ๐
1. Market Overview
- Global Market Cap: 3.08 (previously 3.08T) via Coingecko
- Top Movers: VIRTUAL, FLR, BCH, HYPE, MKR, TAO
2. Altcoin Market Trends ๐
- AI coins continue to outperform vs most of the market (VIRTUAL, TAO, etc.). You also have the usual outperformers like HYPE maintaining their top position which shows traders are focused on betting strength, especially during the choppy market.
3. Key News Headlines ๐ฐ
- Regulatory Updates: 21Shares files for Dogecoin ETF
- Partnerships or Integrations: Crypto.com partners with Bread Financial to launch crypto-based rewards credit cards
- Major Developments: USDC issuer Circle receives approval to operate as money services provider in Abu Dhabi, UAE
4. Upcoming Events โฉ
- Apr 30th-May 1st Token 2049 Dubai
- May 7th FOMC meeting
- May 30th FTX starts $11.4B of creditor payouts
5. Summary โ๏ธ
The market continues to chop as AI and a few top L1s outperform. I imagine liquidity will remain scare during Token2049 but things should pick up towards the end of the week along with new updates surrounding tariffs and the Russia/Ukraine war. This will also coincide with a new month and new catalysts (seasonality + M2 money supply lag, FTX distro, etc.). Remember not to force any trades and wait for opportunities to present themselves. Sometimes the best trade is no trade at all.
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