BTC is currently trading around $36,500 and ETH around $2,050. Notable gainers in the last 24 hours are FXS, MATIC, and OKB. The global crypto market cap is $1.45T, down 0.8% over the last day. DeFi Total Value Locked is ~$46b and BTC dominance is around 52%.
US stock market futures are higher and rates are down as a key inflation report showed muted price growth in October. Specifically, the CPI was flat from the prior month, and grew 3.2% over the last year, lower than the +3.3% expectation. Core CPI, which excludes volatile food and energy prices, increased 4.0% over the last year, also slightly lower than the consensus. In Europe, Eurostat confirmed that euro zone GDP fell by 0.1% QoQ in 3Q, though employment rose by 0.3%
Notable news includes: Bim Afolami was appointed economic secretary to the UK Treasury and will now be responsible for crypto and CBDC policy; the US IRS held a hearing on proposed crypto tax reporting regulations that received significant industry pushback; a spoof filing suggesting BlackRock is pursuing an XRP ETF caused XRP to increase 12% before it was proven untrue and XRP quickly fell; CBOE Digital announced plans to offer BTC and ETH margin futures trading in 2024; Robin Linus, the bitcoin researcher who proposed BitVM, released a paper outlining a decentralized file hosting system incentivized by bitcoin payments; Cosmos-based dYdX Chain’s beta mainnet went live with trading across 33 markets; and, Twitter AI-inspired memecoin GROK fell over 50% as its developer was linked to a previous rug-pull.
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