Daily Market Update: December 20, 2023

December 20, 2023

BTC is currently trading around $43,700 and ETH around $2,250.  Notable gainers in the last 24 hours are STX, NEAR, and MINA.  The global crypto market cap is $1.72T, up 2.3% over the last day.  DeFi Total Value Locked is ~$51b and BTC dominance is around 54%.

Notable news includes: The International Organization of Securities Commissions released nine digital assets policy recommendations to encourage greater consistency and oversight across jurisdictions; China revealed plans to release a web3 and NFT strategy document to clarify a path forward for the industry; the UK FCA issued a notice against defunct lending platform Celsius for alleged regulatory compliance failures; Alchemy Pay partnered with Worldpay to allow its users to access Visa and Mastercard payment rails for purchasing crypto; S&P Global launched its stablecoin assessment evaluating various stablecoins’ ability to maintain a stable value relative to a fiat; BlackRock again met with the SEC ahead of its bid to launch a spot Bitcoin ETF; several recent bitcoin blocks have seen fees exceed the 6.25 BTC block reward due to the frenzy around inscriptions; the core development team behind EthereumPoW announced they will disband with the Ethereum proof-of-work hard fork to be run by decentralized governance; Immutable launched its web3 gaming Passport to aid interoperability and UX; and, Shiba Inu announced plans to apply for the .shib top-level-domain with ICANN.

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

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