Trading Desk Market Update: 1/31

January 31, 2022

BTC is currently trading around $37,300 and ETH around $2,550.  Notable gainers in the last 24 hours are CEL, AR, and ENJ.  The global crypto market cap is $1.77T, down 2.4% over the last day.  DeFi Total Value Locked is ~$188b and BTC dominance is around 43%.

BTC is down ~1% from Friday’s close after a relatively uneventful weekend.  Notable news includes: The US Financial Crimes Enforcement Network is considering a rule requiring crypto exchanges to collect owner names and personal details of non-hosted wallets before users can transfer crypto to them; Monthly NFT trading volume in January has reached a record $6.1b; ApeDao is voting whether to sell its NFTs, including 81 Bored Apes; Stellar announced plans to roll out smart contracts later this year; Olympus DAO announced plans for an NFT marketplace; and, Wonderland founder Daniele Sestagalli tweeted that Wonderland should be wound down.

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