Trading Desk Market Update: 1/4

January 4, 2022

BTC is currently trading around $47,000 and ETH around $3,850.  Notable gainers in the last 24 hours are ICP, RVN, and NEAR.  The global crypto market cap is $2.38T, flat over the last day.  DeFi Total Value Locked is ~$255b and BTC dominance is around 40%.

Notable news includes: The European Union’s markets regulator ESMA is seeking feedback on whether regulations should be amended to accommodate tokenized securities; Estonia’s Ministry of Finance has shut down rumors that its proposed anti-money laundering legislation would ban crypto; a pilot version of China’s digital yuan wallet is now live on app stores; The Federal Reserve Bank of Boston is looking to hire a new director for its CBDC pilot program; Italian private bank Banca Generali will allow customers to buy BTC; a Galaxy Digital report concludes that the energy used by the Bitcoin network is extremely low compared to other industries like banking and gold; Bored Ape Yacht Club NFT sales cross $1b; and, a rare Mutant Ape Yacht Club serum sold for nearly $6m.

In protocol/altcoin news today, Solana reportedly went down or slowed this morning after a DDOS attack; Cardano’s first usable decentralized application, MuesliSwap, went live on Jan 2; blockchain-based decentralized browser Brave passes 50m monthly active users; Crypto betting service Polymarket has been ordered by the CFTC to pay a $1.4m fine for unregistered swaps and to shut unlicensed markets; the Yearn community has passed a governance proposal requiring YFI holders to stake their tokens to participate in governance; borrow lend protocol Aave revealed it is developing a mobile wallet; and, Cosmos-based DEX Osmosis crosses $1b in TVL.

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