Daily Market Update: December 21, 2023

December 21, 2023

BTC is currently trading around $44,000 and ETH around $2,250.  Notable gainers in the last 24 hours are NEAR, CAKE, and SEI.  The global crypto market cap is $1.73T, up 2.8% over the last day.  DeFi Total Value Locked is ~$52b and BTC dominance is around 54%.

Notable news includes: Russia integrated its digital ruble into the nation’s tax code; The Cardano Foundation will offer educational digital assets workshops to 40,000 Petrobras employees; Bitfinex raised 5m USDT through a tokenized bond issuance on Bitcoin side chain Liquid Network; a British Virgin Islands court froze $1.1b in assets belonging to the founders of defunct crypto hedge fund Three Arrows; SOL leapfrogged XRP as the fifth largest cryptocurrency by market cap; StarkWare partnered with data availability layer Avail to increase data availability on its Ethereum L2 Starknet; restaking protocol Eigenlayer and rollup provider AltLayer introduced “restaked rollups” enabling developers to quickly spin up app-specific rollups; decentralized compute platform Render successfully transferred its tokens to Solana and implemented a new burn and mint model; and, a judge denied SBF’s request for a long sentencing process.

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

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