Daily Market Update: December 13, 2023

December 13, 2023

BTC is currently trading around $41,400 and ETH around $2,200. Notable gainers in the last 24 hours are FET, BEAM, and HBAR. The global crypto market cap is ~$1.63T, down 1.5% over the last day. DeFi Total Value Locked is ~$50b and BTC dominance is around 53%.

Equities are modestly higher while crypto continues to lag since its downward move on Sunday. This afternoon’s Fed meeting and updated dot plot is today’s primary focus for investors.

Notable news includes: KuCoin settled with the NY AG, agreeing to implement measures to block NY residents in addition to paying a $22m penalty; DWS, Galaxy Digital, and Flow Traders forged an alliance to launch a EUR stablecoin; Nubank revealed plans to enable customer crypto withdrawals from its previously closed platform; Polygon integrated Celestia’s data availability layer into its L2 CDK stack; Ethereum distributed validator staking network, SSV Network went live on mainnet; Rainbow Wallet rolled out a points-based system, aiming to attract new users by teasing them with a potential airdrop; a Solana whale briefly sent mSOL plummeting after selling $5m of the token; and, Donald Trump unveiled his new ‘Mugshot’ NFT collection.

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Matt Kunke, Research Analyst | TwitterTelegramLinkedIn
Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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