BTC is currently trading around $42,700 and ETH around $2,550. Notable gainers in the last 24 hours are CFX, FLR, and BLUR. The global crypto market cap is $1.76T, down 0.8% over the last day. DeFi Total Value Locked is ~$59b and BTC dominance is around 51%.
Notable news includes: The EU Council and Parliament reached a provisional agreement on parts of an AML package that would require crypto firms to follow more strict due diligence requirements; South Korea pledged to review its current crypto tax laws; Chainalysis found that $24b of cryptocurrency was received by illicit addresses in 2023, amounting to 0.3% of all transaction volume and down 40% from 2022; the number of web3 developers fell 24% in 2023, but developers with 2+ years of experience continued to steadily grow, per Electric Capital; BlackRock’s Bitcoin ETF hit $1b in AUM; stablecoin issuer Tether bought another $380m of bitcoin and now owns $2.8b in total; Bitcoin mining’s sustainable energy usage hit an all-time high of 55%, per The Bitcoin ESG Forecast; Bitcoin’s hash rate fell after miners in Texas curtailed electricity usage amidst freezing temperatures; TrueUSD initiated daily attestation services from an accounting firm in an attempt to recover its dollar peg; Algorand reduced its block times by 20% after its Dynamic Lambda upgrade; and, Frax Finance announced its layer 2 Fraxtal will debut in February.
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Authors:
Matt Kunke, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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