BTC is currently trading around $102,500 and ETH around $3,400. Notable gainers in the last 24 hours are OKB, RUNE, and FARTCOIN. The global crypto market cap is $3.75T, up 2.8% over the last day. DeFi Total Value Locked is ~$126b and BTC dominance is around 57%.
Crypto is higher amidst reports of US President-Elect Trump’s continued support of the crypto industry. Specifically, Bloomberg reported that Trump will issue executive orders that designate crypto as a national priority, establish a crypto advisory council, direct agencies to review digital asset policies, pause or halt litigation against crypto companies, and creation a national Bitcoin stockpile. While executive orders can be limited in scope and Trump’s full crypto plans may face some legal hurdles, the orders demonstrate the current administration’s support for the industry and may lead to a coordinated policy push. Elsewhere, China’s GDP grew 5.4% in the fourth quarter, enabling the country to meet its official “around 5%” growth target for the year and suggesting that stimulus measures may be starting to take effect.
Notable news includes: US Senator Lummis penned pro-crypto letters to both the US Marshals and the FDIC; SEC General Counsel Barbero announced she will leave the agency; the US CFPB was sued for treating digital wallets like banks; a crypto developer sued the US Attorney General asking for his software to be deemed legal; Boerse Stuttgart Digital Custody became Germany’s first fully licensed crypto asset service provider under MiCA; Swiss bank PostFinance introduced Ethereum staking; Ethereum developers decided to target March for the network’s upcoming Pectra upgrade; Multicoin published a Solana Improvement Document proposing to change SOL emissions to a market-based solution; Bitcoin mining-as-a-service provider Blockware proposed that Aave mine Bitcoin to generate yield; and, digital art venue MakersPlace shut down.
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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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