Daily Market Update: January 31, 2024

January 31, 2024

BTC is currently trading around $43,300 and ETH around $2,350.  Notable gainers in the last 24 hours are SUI, RON, and XMR.  The global crypto market cap is $1.74T, down 0.5% over the last day.  DeFi Total Value Locked is ~$57b and BTC dominance is around 53%.

Notable news includes: China will reportedly revise its AML regulations to include crypto in 2025; Thailand’s SEC updated its crypto regulations to allow retail investors to invest in digital tokens backed by real estate or infrastructure without limits; the US SEC moved to drop its case against Debt Box after the judge threatened to sanction the SEC for misrepresenting evidence; Visa partnered with web3 infrastructure provider Transak to introduce a new method for exchanging crypto for fiat; Binance began allowing larger traders to hold funds at Sygnum Bank and FlowBank rather than on exchange; Ethereum’s Dencun upgrade went live on the Sepolia testnet; and, Ripple co-founder Chris Larsen was hacked for $113m.

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

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