Daily Market Update: January 15, 2024

January 15, 2024

BTC is currently trading around $42,400 and ETH around $2,500.  Notable gainers in the last 24 hours are SUI, TON, and BNB.  The global crypto market cap is $1.75T, down 0.9% over the last day.  DeFi Total Value Locked is ~$56b and BTC dominance is around 51%.

It’s a quiet start to the week with US markets closed, global equities little changed, and crypto trading sideways over the weekend.  Investors will be watching several key reports this week, including China GDP, US retail sales, and two ECB President Lagarde speeches.

Notable crypto news includes: The Polish Financial Supervision Authority announced plans to start supervising digital assets by year end; South Korea is contemplating strict measures against the use of crypto mixing services; the UN warned that USDT has become a prominent payment method for criminal groups in Southeast Asia; the SEC issued a statement on the unauthorized access of its Twitter account and included a timeline of events; digital asset investment products saw $1.2b of inflows last week, per CoinShares; investment bank Cowan stated that the SEC is unlikely to approve a spot Ethereum ETF anytime soon, while JPMorgan pegged the odds at 50% by May; X discontinued support for verified NFT profile pics; and, Aave is mulling whether to expand to Solana via Neon EVM.

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

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