Daily market Brief

Apr 4, 2024

Daily Market Brief 240404

PC
Peter Chung
MJ
Min Jung
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  • Markets remained subdued, with no significant macro or crypto headlines. $BTC is trading around $66,200, and $ETH is at approximately $3,300. 

  • Regarding ETF flows, there’s a notable slowdown in $GBTC outflows, recording a $75M outflow on 4/3, the lowest since 2/26 (*3/12 GBTC outflow was about the same). Attention is now on $IBIT and $FBTC to see if there will be a reversal in the ETF flow trend. 

  • In fundraising news, Galaxy Digital announced it is raising $100M to fund early-stage companies, and Paradigm is seeking between $750M-$850M, which would be the largest crypto fund since 2022. 

  • In the altcoin sector, $ENA is trading above $1 and $W at $1.35. The top three gainers were $TAO, $NEAR, and $ARB, while the top three losers were $LTC, $CORE, and $PEPE.

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PC
Peter ChungHead of Research
MJ
Min JungAnalyst