Daily Market Update: Dec 29, 2022

December 29, 2022

BTC is currently trading around $16,600 and ETH around $1,200. Notable gainers in the last 24 hours are BIT, ETC, and ICP. The global crypto market cap is ~$832B, down ~0.5% over the last day. DeFi Total Value Locked is ~$39b and BTC dominance is around 42%.

Notable news includes: Fiji elected a pro-Bitcoin prime minister; China announced the upcoming launch of its regulated NFT trading platform on Jan 1; MicroStrategy announced its exploring business solutions on the Lightning Network for 2023; BMW tapped Coinweb and BNB Chain for its blockchain loyalty program; Binance secured 14 licenses and grew headcount to 7,500 during the year; Celsius’s ‘administrative expenses’ have added up to $53m over the last four months; Solana fell below $10 for the first time in nearly two years; Uniswap V3 was the most used Ethereum contract in 2022; a Nouns-inspired float will appear in the 2023 Rose Parade; the floor price of Donald Trump NFTs are down ~80% in the last ten days; a NBER study indicated 70% of unregulated exchange transactions are wash sales; 3Commas backtracked on its earlier statements that hack victims fell for phishing scams, admitting it was source of the API leak that resulted in theft; and, rumors are spreading that Sam Bankman-Fried is expected to enter a plea early next year. 

Matt Kunke, Junior Strategist | TwitterTelegramLinkedIn
Brian Rudick, Senior Strategist | TelegramLinkedIn

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