Trading Desk Market Update: 1/25

January 25, 2022

BTC is currently trading around $36,500 and ETH around $2,400.  Notable gainers in the last 24 hours are POKT, LRC, and FTM.  The global crypto market cap is $1.75T, up 8.1% over the last day.  DeFi Total Value Locked is ~$197b and BTC dominance is around 42%.

Crypto asset prices are recovering today ahead of the Fed’s two-day policy meeting that starts today.  Notable news includes: The BIS Innovation Hub plans to develop DeFi products this year; Indonesia’s financial watchdog has warned institutions against offering or facilitating crypto-asset sales; Thailand’s financial authorities plan to regulate the use of digital assets as a means of payment for goods and services; The Ethereum Foundation is retiring the term “Ethereum 2.0” in favor of “consensus layer”; Meta unveiled a new supercomputer that will pave the way towards building the metaverse; China’s state sanctioned blockchain infrastructure project BSN is releasing its NFT platform today; Institutional inflows into digital assets turned positive for the first time in five weeks; BlackRock plans to launch an ETF focused on companies in the blockchain industry; Cloud mining platform BitFuFu is preparing to go public through a SPAC; and, Bored Ape prices have rallied on funding round rumors.

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