BTC is currently trading around $43,600 and ETH around $3,350. Notable gainers in the last 24 hours are FXS, FTM, and OMI. The global crypto market cap is $2.2T, up 6.9% over the last day. DeFi Total Value Locked is ~$237b and BTC dominance is around 40%.
The US CPI rose 7.0% year-over-year in December, up from November’s 6.8% and the highest inflation since 1982. Still, the 7.0% growth was in line with expectations, and equity markets and crypto prices are rallying in response.
In other news: Fed Chairman Powell stated that the Fed will release a crypto report within weeks and that a CBDC wouldn’t necessarily lead to a ban on private stablecoins; The Hong Kong Monetary Authority published a consultation document proposing for it to supervise stablecoin issuance and reserves management; a group of US banks plans to offer its own stablecoin called USDF to allay reserve concerns; The Republic of Palau announced a partnership with Cryptic Labs to launch a digital residency program allowing global citizens to receive some residency perks without physically living there; Block’s popular Cash App has integrated the Bitcoin Lightning Network for faster and cheaper BTC transfers; over 100 employees from Microsoft have reportedly left to join Meta; OpenSea competitor LooksRare claims to have sold over $100m of NFTs in its first day post launch; the Ethereum Push Notification Service (EPNS) announced the launch of a web3 communication primitive to allow protocols, contracts and users to directly communicate; and Moonbeam has become the first fully operational parachain on Polkadot.
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