BTC is currently trading around $16,500 and ETH around $1,200. Notable gainers in the last 24 hours are HT, DOGE, and LINK. The global crypto market cap is ~$871B, up ~1.7% over the last day. DeFi Total Value Locked is ~$41b and BTC dominance is around 40%.
Risk markets are mixed by asset class and region, but Chinese (+2.3%) and Hong Kong (+5.2%) equities are notable standouts after comments from Chinese officials helped ease tensions. China’s top health officials pledged to lift lockdowns “as quickly as possible” while reiterating its focus on boosting vaccination levels among its elderly. U.S. equities are roughly flat, while crypto is moving higher. U.S. bond yields are slightly higher behind hawkish comments from St. Louis Fed President James Bullard on Monday. Markets continue to expect a 50 bp hike in December, but the market-implied probability of a 75 bp hike increased by nearly 10% after the hawkish remarks.
Notable news includes: Dominca is working with Huobi to issue a national crypto token; Ukraine revealed it’s evaluating a CBDC; Israel’s chief economist laid out recommendations for crypto regulation; House lawmakers set the first FTX hearing for December 13th; BlockFi filed for bankruptcy in the U.S.; Fidelity launched its previously announced retail crypto trading accounts; Kraken agreed to pay a ~$362k fine for onboarding users from Iran; Ankex, a new hybrid crypto exchange incubated by Qredo Ventures was launched; MakerDAO is voting to increase the yield on its Dai stablecoin; and, Compound imposed lending caps in light of the failed Aave exploit.
