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📉Crypto Markets Suffer $100B Flash Crash

The Defiant

DeFi Alpha

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Traders wiped $100B from the combined crypto capitalization in just a couple of hours as excessive leverage was flushed from the digital asset markets. The violent market momentum comes as speculators are anxiously awaiting a verdict from the SEC on applications for spot Bitcoin ETFs.

In other news, the IRS is mandating that businesses report transactions worth at least $10,000, the market cap and TVL of DeFi tagged its highest level since mid-2022, Solana flipped Ethereum by stablecoin volume and Google searches, and Ether has started the year with an inflationary supply.

✍️ In today’s newsletter:

  • $100B crypto flash crash
  • IRS mandates businesses report five figure crypto txs
  • DeFi market cap and TVL recover
  • Solana flips Ethereum by stablecoin volume
  • ETH briefly trends inflationary

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