Market continues to slide, returning toward the 100k level. As of now, $BTC is trading at $101,658 and $ETH at $3,413, with Bitcoin dominance at 59.88%.
Circle’s stock fell 13% after its first public earnings release, as investors focused on declining reserve yields and sharply rising operating expenses despite strong revenue growth and a doubled USDC circulation (see below). And in a notable update, Circle confirms they are looking at an $ARC token for their native stablecoin chain, according to the filing.
A few other headlines include: Aerodrome and Velodrome merging into a single protocol, Polymarket becoming the exclusive prediction market partner for Yahoo Finance, and South Korea's NH NongHyup Bank piloting stablecoin-led tax refunds on Avalanche.
During the last 24 hours, the top three gainers were $TEL, $DCR, and $ZEC, while the top three losers were $FTN, $AERO, and $UNI.
