Daily Market Update: November 16, 2023

November 16, 2023

BTC is currently trading around $36,800 and ETH around $2,050. Notable gainers in the last 24 hours are RNDR, KAS, and AVAX. The global crypto market cap is ~$1.46T, up 1.2% over the last day. DeFi Total Value Locked is ~$46b and BTC dominance is around 52%.

Traditional markets are little changed while crypto is still modestly positive from a sharp rally yesterday afternoon that’s mostly retreated so far this morning. The US Senate overwhelmingly approved a temporary funding bill that’s expected to be signed by President Biden before tomorrow’s impending government shutdown.

Notable news includes: the NYDFS rolled out stricter guidelines for crypto exchange listings and delistings; the Philippines government plans to raise ~$180m through the sale of tokenized treasury bonds; Circle Ventures invested in Sei to expand the USDC ecosystem; Aave is cooperating with other protocols that have forked from its codebase to patch its recently disclosed security vulnerability that caused a temporary protocol freeze; BlackRock filed its S-1 for a spot ETH ETF; and, a physical Dogecoin could reach the moon in December, eight years after the initiative was community funded in 2015.

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

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