BTC is currently trading around $96,300 and ETH around $3,650. Notable gainers in the last 24 hours are XRP, HBAR, and KAIA. The global crypto market cap is $3.60T, down 1.2% over the last day. DeFi Total Value Locked is ~$126b and BTC dominance is around 57%.
Equity markets are slightly higher while crypto is little changed from Friday as investors contemplate what may lie ahead for markets after an extremely strong November and ahead of a potentially more hawkish Fed later this month. Friday’s US employment report will be key, with the week also featuring US and China PMIs as well as various speeches by central bank officials.
Notable news includes: South Korean lawmakers agreed to postpone levies on crypto trading until 2027; Brazil proposed to ban stablecoin withdrawals to self-custodial wallets; Japanese crypto exchange DMM Bitcoin is reportedly preparing to liquidate after its May hack; the former head of Facebook’s Libra project stated it was “100% a political kill”; MicroStrategy’s Michael Saylor met with Microsoft to talk about Bitcoin; MicroStrategy announced it acquired $1.5b in Bitcoin last week; Sora Ventures launched a $150m fund to invest in companies with Bitcoin treasury strategies; Bitcoin miner MARA announced intentions to raise an additional $805m in part to buy more Bitcoin; Bitcoin miner Argo secured a $5m investment amidst falling mining margins; XRP overtook USDT to become the world’s third-largest crypto currency by market cap; Ripple is expected to received approval from the NYDFS to launch its RLUSD stablecoin; and, Coinbase scrapped plans to enter Turkey.
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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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