Daily Market Update: November 28, 2023

November 28, 2023

BTC is currently trading around $37,500 and ETH around $2,050. Notable gainers in the last 24 hours are TIA, PYTH, and RUNE. The global crypto market cap is ~$1.48T, up 1.3% over the last day. DeFi Total Value Locked is ~$46b and BTC dominance is around 53%.

Notable news includes: The US SEC alleged that Binance may have had backdoor control over customer assets similar to FTX, but the overseeing judge expressed skepticism over the allegations and set a December 15 deadline to resolve the dispute; Coinbase users were informed of a subpoena by the CFTC in an unknown matter that many are speculating is in connection with Bybit; Animoca Brands invested in the TON Network and became the chain’s largest validator; Tornado Cash’s TORN token fell ~55% after being delisted from Binance; daily trading activity on Arbitrum-based derivatives DEX protocol Vertex surged to $1.5b; Solana DeFi platform Jito announced a token airdrop to facilitate collective governance; and, DEMAND launched a Bitcoin mining pool with Stratum v2 that’d allow individual miners to build their own candidate blocks instead of the mining pool, improving Bitcoin’s censorship resistance with more decentralized block building.

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

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