BTC is currently trading around $95,200 and ETH around $3,350. Notable gainers in the last 24 hours are AAVE, VIRTUAL, and THETA. The global crypto market cap is $3.44T, down 1.3% over the last day. DeFi Total Value Locked is ~$121b and BTC dominance is around 59%.
Markets are little changed ahead of a holiday-shortened week. Notably, the US government passed a last minute spending bill to avoid a government shutdown and fund federal agencies at current levels for the next three months. It’s a light week on the data front, with no notable macroeconomic releases.
Notable news includes: Trump chose Bo Hines, Stephen Miran, and Sriram Krishnan to take on roles in digital assets policy, economic strategy, and artificial intelligence in the upcoming Administration; SEC Commissioner Peirce stated that she is open to reconsidering in-kind redemptions and staking for crypto ETFs; Jump Crypto settled with the SEC for $123m related to its dealings with the Terra ecosystem; Cardano founder Hoskinson revealed plans to meet with Democratic Senators to make crypto more bipartisan; Interpol issued a red notice for Hex founder Richard Heart for tax fraud and assault allegations; MicroStrategy purchased an additional $561m of Bitcoin; stablecoin issuer Tether invested $775m into YouTube alternative Rumble; the Crypto Fear & Greed Index hit its lowest mark since Trump won the US Presidency; Uniswap stated its Unichain public mainnet will launch in early 2025; Hyperliquid TVL fell by $1b amidst North Korean hacking fears; and, Solana staking protocol Sanctum began trialing creator coins.
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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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