Daily Market Update: Dec 9, 2022

December 12, 2022

BTC is currently trading around $17,200 and ETH around $1,300. Notable gainers in the last 24 hours are OKT, GRT, and XCN. The global crypto market cap is ~$894B, up ~1.6% over the last day. DeFi Total Value Locked is ~$45b and BTC dominance is around 41%.

Notable news includes: a new U.S. bill would require crypto miners to report greenhouse gas emissions; the SEC urged crypto companies to disclose their exposure to the recent market contagion; Ethereum developers announced a target of March 2023 to enable staked ETH withdrawals and delayed the first sharding upgrade until next fall; Osmosis launched a protocol for stableswaps; Amber Group only raised half of the $100m planned and is reportedly cutting 40% of jobs; Coinbase waived its fee on USDT to USDC conversions in a push to gain stablecoin market share; Bybit introduced new KYC requirements for p2p trading, fiat deposits, and NFT trades; GameStop revealed it’ll drop its crypto efforts as Q3 losses approached $95m; GBTC fell to a 47% discount, its largest on record; and, SBF said he will testify in front of the U.S. House Financial Services Committee on December 13th.

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

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