BTC is currently trading around $47,000 and ETH around $3,850. Notable gainers in the last 24 hours are ICP, RVN, and NEAR. The global crypto market cap is $2.38T, flat over the last day. DeFi Total Value Locked is ~$255b and BTC dominance is around 40%.
Notable news includes: The European Union’s markets regulator ESMA is seeking feedback on whether regulations should be amended to accommodate tokenized securities; Estonia’s Ministry of Finance has shut down rumors that its proposed anti-money laundering legislation would ban crypto; a pilot version of China’s digital yuan wallet is now live on app stores; The Federal Reserve Bank of Boston is looking to hire a new director for its CBDC pilot program; Italian private bank Banca Generali will allow customers to buy BTC; a Galaxy Digital report concludes that the energy used by the Bitcoin network is extremely low compared to other industries like banking and gold; Bored Ape Yacht Club NFT sales cross $1b; and, a rare Mutant Ape Yacht Club serum sold for nearly $6m.
In protocol/altcoin news today, Solana reportedly went down or slowed this morning after a DDOS attack; Cardano’s first usable decentralized application, MuesliSwap, went live on Jan 2; blockchain-based decentralized browser Brave passes 50m monthly active users; Crypto betting service Polymarket has been ordered by the CFTC to pay a $1.4m fine for unregistered swaps and to shut unlicensed markets; the Yearn community has passed a governance proposal requiring YFI holders to stake their tokens to participate in governance; borrow lend protocol Aave revealed it is developing a mobile wallet; and, Cosmos-based DEX Osmosis crosses $1b in TVL.
This material is a product of the GSR Sales and Trading Department. It is not a product of a Research Department, not a research report, and not subject to all of the independence and disclosure standards applicable to research reports prepared pursuant to FINRA or CFTC research rules. This material is not independent of the Firm’s proprietary interests, which may conflict with your interests. The Firm trades instruments discussed in this material for its own account. The author may have consulted with the Firm’s traders and other personnel, who may have already traded based on the views expressed in this material, may trade contrary to the views expressed in this material, and may have positions in other instruments discussed herein. This material is intended only for institutional investors. Solely for purposes of the CFTC’s rules and to the extent this material discusses derivatives, this material is a solicitation for entering into a derivatives transaction and should not be considered to be a derivatives research report.This material is provided solely for informational purposes, is intended for your use only and does not constitute an offer or commitment, a solicitation of an offer or comment (except as noted for CFTC purposes), or any advice or recommendation, to enter into or conclude any transaction (whether on the indicative terms shown or otherwise), or to provide investment services in any state or country where such an offer or solicitation or provision would be illegal. Information is based on sources considered to be reliable, but not guaranteed to be accurate or complete. Any opinions or estimates expressed herein reflect a judgment made as of the date of publication, and are subject to change without notice. Trading and investing in digital assets involves significant risks including price volatility and illiquidity and may not be suitable for all investors. GSR will not be liable whatsoever for any direct or consequential loss arising from the use of this Information. Copyright of this Information belongs to GSR. Neither this Information nor any copy thereof may be taken or rented or redistributed, directly or indirectly, without prior written permission of GSR. Not a solicitation to U.S. Entities or individuals for securities in any form. If you are such an entity, you must close this page.
