BTC is currently trading around $66,900 and ETH around $2,600. Notable gainers in the last 24 hours are POPCAT, FTN, and LTC. The global crypto market cap is $2.40T, down 1.2% over the last day. DeFi Total Value Locked is ~$88b and BTC dominance is around 59%.
The ECB cut rates for the third time this year, stating that “the disinflationary process is well on track” and that while economic activity has been somewhat weaker than expected, the economy is likely in for a “soft landing.” All eyes now turn to the ECB’s December meeting, where ECB President Lagarde remained mum on future policy actions, though many believe the ECB will likely cut rates once again if growth and inflation play out as expected.
Notable news includes: Cyprus outlined transition policies as the EU moves from national crypto laws to MiCA; the FBI arrested an individual accused of hacking the SEC’s X account to announce a fake Bitcoin ETF approval; payments company Stripe is reportedly in advanced talks to acquire stablecoin-focused fintech Bridge; Robinhood announced plans to support Bitcoin and Ethereum futures; global financial market infrastructure provider Euroclear acquired a strategic stake in Singapore-based blockchain infrastructure firm Marketnode; blockchain firm HUMBL was issued a US patent for its blockchain-based payments technology; Chainalysis’s 2024 Global Crypto Adoption Index found that Asia leads global crypto adoption; crypto exchange Kraken introduced a new wrapped Bitcoin product kBTC; the spot Bitcoin ETFs have taken in over $20b of net inflows since launching ten months ago; Swarm markets tokenized gold bars on the Bitcoin blockchain; blockchain analytics firm Nansen launched tracking tools for Solana; Vitalik authored another blog post regarding Ethereum’s future focused on The Surge portion of its roadmap; Polymarket’s US Presidential election market topped $2b in betting volume; tap-to-earn game Hamster Kombat teased its second season and new initiatives; Solana DEX aggregator Jupiter introduced new memecoin trading platform Ape Pro; and, the GOAT memecoin created by artificial intelligence continued to surge.
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Author:
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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