Daily Market Update: January 16, 2024

January 16, 2024

BTC is currently trading around $43,100 and ETH around $2,550.  Notable gainers in the last 24 hours are CHZ, KLAY, and BLUR.  The global crypto market cap is $1.78T, up 1.8% over the last day.  DeFi Total Value Locked is ~$56b and BTC dominance is around 51%.

Notable crypto news includes: The European Banking Authority extended its guidelines on money laundering and terrorist financing risk factors to crypto-asset service providers; a timeline was set for the upcoming trial challenging Craig Wright’s claim that he is Satoshi Nakamoto; Binance and Gulf Innova unveiled its joint venture crypto exchange Binance Thailand; Bitfinex successfully identified and prevented an attempted $15b “partial payment” exploit; Celsius transferred over $125m of ETH to crypto exchanges as part of its plan to initiate creditor repayments; Chainlink integrated its CCIP with Circle’s CCTP to enhance secure and efficient cross-chain USDC transfers; Circle’s CEO stated that there is a very good chance the US passes stablecoin laws this year; Tether issued a response to UN claims that USDT is used for criminal activity; TrueUSD (TUSD) traded to $0.984 amidst a declining supply and Binance’s focus on FDUSD; Fantom blockchain reduced its validator requirement from 500k to 50k FTM; blockchains Klaytn and Finschia proposed merging; Solana is reportedly planning a cheaper successor to the Solana Saga mobile phone; Solana DEX aggregator Jupiter confirmed its JUP token launch date of Jan 31; Ethereum L2 Metis launched its decentralized sequencer on testnet; Manta Pacific replaced Base as the fourth largest scaling solution; Mantle deployed its v2 on the Sepolia testnet; and, Taiko launched its final testnet ahead of its planned mainnet release in Q1.

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

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