Daily Market Brief

Jun 27, 2024

Daily Market Brief 240627

PC
Peter Chung
MJ
Min Jung
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  • It was a quiet session, but the market could not sustain the rally with bearish headlines, including news of the US government sending 4k $BTC to Coinbase. $BTC is down 1.8%, now trading at $60,849, and $ETH is down 0.7%, now trading at $3,370.

  • Reuters reported that US regulators could approve spot ether ETFs for launch by July 4. A few inside sources mentioned that it is “down to the finishing touches” and that approval is “probably not more than a week or two away.”

  • A few major headlines include the $BLAST launch, now trading at a $2.6B FDV, Animoca looking to go public in 2025, and Binance receiving a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).

  • During the last 24 hours, the top three gainers were $FET, $AGIX, and $KAS, while the top three losers were $BLUR, $TURBO, and $AR.

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PC
Peter ChungHead of Research
MJ
Min JungResearch Analyst