Trading Desk Market Update: 1/7

January 7, 2022

BTC is currently trading around $42,500 and ETH around $3,250.  Notable gainers in the last 24 hours are ATOM, OSMO, and FXS.  The global crypto market cap is $2.12T, down 1.5% over the last day.  DeFi Total Value Locked is ~$237b and BTC dominance is around 40%.

In Ethereum news, Vitalik Buterin proposed a new multidimensional Ethereum fee structure with different gas prices for different resource usage.  Additionally, Fei co-founder Joey Santoro proposed a new token standard named ERC-4626 to standardize yield-bearing tokens to make them easier to integrate into DeFi protocols.  

Elsewhere, notable news includes: The Central Bank of Bahrain announced it successfully completed a test of JPMorgan’s Onex for real-time payments; The BIS named CBDC expert Raphael Auer as head of its Euro-Region Innovation Center; The NYDFS has hired Peter Marton as deputy superintendent of virtual currency; GameStop stock is up 25% pre-market after the company reportedly hired 20 people for its new NFT division and is close to securing partnerships for NFT game development; and, Dapper Labs has become the first NFT company to register to lobby with the US government.

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