BTC is currently trading around $94,500 and ETH around $3,100. Notable gainers in the last 24 hours are ADA, CRO, and XLM. The global crypto market cap is $3.27T, up 1.7% over the last day. DeFi Total Value Locked is ~$110b and BTC dominance is around 61%.
Global equity markets are little changed as investors await Nvidia’s earnings, while Bitcoin hit a new all-time high, surpassing $94,700 shortly ago. Some attributed Bitcoin’s new high to BlackRock’s successful launch of options on its spot Bitcoin ETF bringing in new demand, though positive movement continues on corporate and potentially even sovereign buying. Specifically, Holt Therapeutics added Bitcoin as a treasury asset, Rumble is considering doing so, and MicroStrategy’s Saylor will present to Microsoft’s Board on the issue. And on the sovereign front, Argentina unveiled a bill that would enable its central bank to buy, hold, and mine Bitcoin.
Notable news includes: a BIS report found that liquidity providers on DEXs are dominated by institutional providers; a Shanghai court stated that virtual currency is not prohibited by Chinese law, but that virtual currency-related business activities are; Hong Kong’s government-run business hub Cyberport grew to 270 blockchain-related companies; South Korea’s KPD challenged the PPP’s plan to delay crypto taxes until 2028; Trump is reportedly considering crypto Lawyer Teresa Goody Guillen for SEC Chair; FDIC Chair who allegedly architected “Operation Chokepoint 2.0” Martin Gruenberg reportedly announced he will resign on January 19th; Brazil collaborated with Chainlink for a new CBDC pilot; Russia is considering restricting crypto mining in 13 regions to save electricity; MicroStrategy entered the top 100 US publicly traded companies by market cap; Microstrategy upsized its recent notes offering to $2.6b; options on BlackRock’s spot Bitcoin ETFs surpassed $2b in notional exposure traded yesterday, despite the existence of position limits; options on Grayscale’s Bitcoin ETFs launched today; Grayscale completed reverse share splits of its mini ETFs; Colombia’s stock exchange is in talks to potentially launch a crypto ETF; Coinbase announced it will delist wBTC; stablecoin issuer Paxos announced the acquisition of Finland’s Membrane Finance; Sky launched its USDS stablecoin on Solana; the Phantom wallet app ranked second in the US Apple App Store utility category; layer 1 blockchain Injective launched a new toolkit for building onchain AI agents; and, a Shiba Inu whale was discovered who holds 10% of the SHIB supply.
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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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