Daily Market Brief

May 29, 2024

Daily Market Brief 240529

Peter Chung
Min Jung
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  • With the headline that Mt. Gox moved over 100k BTC, $BTC sold off quickly, reaching below 68k at one point and now trading at $68,550. Several sources reported that the move is related to payments to creditors, with distribution expected to happen soon.

  • $ETH continues to perform well, with ETH/BTC now at 0.056. Bitcoin dominance stands at 53.9%.

  • Other notable headlines include ZKasino announcing the initiation of its bridge back process, former FTX executive Ryan Salame being sentenced to 7.5 years in prison, and the EU setting to define MEV as illegal market abuse.

  • With memecoins still showing strength in the market, the top three performers were $DOG, $TRUMP, and $TURBO, while the top three losers were $W, $CORGIAI, and $PRIME.

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Peter ChungHead of Research
Min JungResearch Analyst