Daily Market Update: November 15, 2023

November 15, 2023

BTC is currently trading around $36,100 and ETH around $2,000. Notable gainers in the last 24 hours are KAS, DYDX, and CAKE. The global crypto market cap is ~$1.44T, down 0.3% over the last day. DeFi Total Value Locked is ~$46b and BTC dominance is around 52%.

Equities are rallying, interest rates are climbing, and crypto is mostly flat on a mixed bag of economic releases. Inflation data reiterated the positive trend exhibited yesterday as UK CPI and US PPI came in better than expected. US core retail sales continued to illustrate consumer strength though, and the releases together bode well for a soft landing narrative.

Notable news includes: Kazakhstan officially launched its digital tenge; JPMorgan unveiled a large partnership with asset managers, blockchain teams, and interoperability solutions to deliver a proof-of-concept for onchain portfolio management of tokenized assets; OKX announced a partnership with Polygon to launch its own zkEVM dubbed X1; the three month net supply change in stablecoins was noticeably positive for the first time in 18 months; and, a white hat hacker received a $300k reward for exposing a vulnerability in Chainlink’s verifiable random function (VRF).

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

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