Daily Market Update: November 17, 2023

November 17, 2023

BTC is currently trading around $36,200 and ETH around $1,950. Notable gainers in the last 24 hours are MNT, NEAR, and DOGE. The global crypto market cap is ~$1.43T, down 2.2% over the last day. DeFi Total Value Locked is ~$46b and BTC dominance is around 53%.

Traditional markets are slightly positive while crypto is lagging from ~$150m of liquidated long positions.

Notable news includes: Tether revealed plans to invest $500m in bitcoin mining companies and facilities across several South American countries with the goal of growing to 1% of network hashrate; Paxos formed a fresh Singaporean entity to launch a new USD-backed stablecoin; Anchorage launched custody and SMA trading services for registered investment advisors; Aave companies rebranded to Avara; European crypto asset manager CoinShares received the green light to acquire US competitor Valkyrie Funds; and, Vivek Ramaswamy became the first US presidential candidate to release a thorough pro-crypto agenda.

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

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