Daily Market Update: December 26, 2023

December 26, 2023

BTC is currently trading around $42,400 and ETH around $2,250. Notable gainers in the last 24 hours are CAKE, SEI, and BNB. The global crypto market cap is ~$1.73T, down 1.7% over the last day. DeFi Total Value Locked is ~$53b and BTC dominance is around 52%.

Notable news includes: Mt. Gox began facilitating some creditor repayments via PayPal; Paxos secured NY regulatory approval to expand USDP to Solana; Solana canceled the orders of several Saga Phones noting that an error in its inventory management system led to more sales than units available; Solana’s rally continued and the token’s price briefly touched $125 yesterday; zkSync Era went down for five hours on Xmas Day but has since regained stability; Curve DAO agreed to $44m in compensation for victims of its exploit in July; Barry Silbert and Mark Murphy exited from Grayscale’s board; an amended filing indicated BlackRock will increase its spot Bitcoin ETF seed to $10m; the SEC reportedly indicated that all Bitcoin ETF filers seeking to be included in the first wave of approvals will need to remove language around in-kind creations and the final S-1 amendments must be submitted by Dec 29;  South Korean game publisher Wemade launched a $100m blockchain investment fund; and, crypto funding fell 68% in 2023.

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

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