Trading Desk Market Update: 1/13

January 13, 2022

BTC is currently trading around $43,900 and ETH around $3,400.  Notable gainers in the last 24 hours are OHM, ONE, and CVX.  The global crypto market cap is $2.21T, up 2.0% over the last day.  DeFi Total Value Locked is ~$241b and BTC dominance is around 40%.

Notable news today includes: a new report from the IMF states that digital assets could pose a risk to overall financial stability; Tonga may make bitcoin legal tender, per a former MP; Pakistan is planning to ban cryptocurrencies, per local media; a House of Lords committee concluded that there is “no convincing case” for the UK to have a CBDC; the China-backed Blockchain Services Network will introduce infrastructure this month to support NFTs that have no link to cryptocurrencies; Coinbase announced the acquisition of designated contract market derivatives exchange FairX; Visa and ConsenSys have partnered to allow customers to use CBDC-linked Visa cards or digital wallets anywhere that Visa is accepted; and, decentralized derivatives exchange dYdX has outlined plans for full decentralization in late 2022.

2022.01.13

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