BTC is currently trading around $101,400 and ETH around $3,800. Notable gainers in the last 24 hours are SOS, HYPE, and SUI. The global crypto market cap is $3.79T, up 6.3% over the last day. DeFi Total Value Locked is ~$131b and BTC dominance is around 57%.
Equity markets and crypto prices are higher after US November CPI inflation came in as expected, setting up a likely 25 bp rate cut at next week’s Fed meeting. Notably, the Nasdaq Composite is up 1.8% and reached 20,000 for the first time ever.
Notable news includes: El Salvador and Argentina regulators entered into an agreement to work on crypto regulation together; Vancouver’s City Council is slated to discuss the mayor’s proposal exploring Bitcoin as a reserve asset today; Hong Kong stated it will speed up crypto licensing; crypto advocacy groups urged the US Senate Banking Committee to reject the renomination of anti-crypto SEC Commissioner Crenshaw; the NYDFS granted final approval of Ripple’s RLUSD stablecoin; analysts suggested that MicroStrategy will be added to the Nasdaq 100 index; MARA became the first miner to hit 50 EH/s; the Thunder Bridge SPAC completed its merger with Japanese crypto exchange Coincheck; Binance began offering Bitcoin staking through Babylon; decentralized exchange Balancer launched its v3 with optimized liquidity and improved developer tools; Raydium surpassed Uniswap in November DEX volumes; DeFi protocol Synthetix acquired leveraged token platform TLX to create a decentralized liquidity layer; staking platform Marinade floated a proposal to democratize Solana MEV; and, Adidas officially revealed its NFT collection ALTS.
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Author:
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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