Daily Market Brief

Jun 25, 2024

Daily Market Brief 240625

PC
Peter Chung
MJ
Min Jung
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  • Another sell-off session occurred with the headline that the Mt. Gox trustee announced they would start distribution by early July. $BTC dropped to $58.5k and is now trading at $60,292, down ~4.6%, and $ETH is at $3,352, down 2%.

  • There were a few bearish headlines, including a $9 billion repayment plan from Mt. Gox, along with a $3 billion liquidation plan from Germany and the president of Jump Crypto announcing his departure today, likely due to the CFTC probe.

  • Other headlines include Binance Labs investing in Infrared Finance, Tether stopping USDT minting on EOS and Algorand, and Dexscreener introducing a new feature called Moonshot.

  • During the last 24 hours, the top three gainers were $POPCAT, $MOG, and $FET, while the top three losers were $PRIME, $ORDI, and $XRD.

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PC
Peter ChungHead of Research
MJ
Min JungResearch Analyst