BTC is currently trading around $57,200 and ETH around $4,350. Notable gainers in the last 24 hours are KUB, STX, and KCS. The global crypto market cap is $2.72T, up 5.1% over the last day. DeFi Total Value Locked is ~$265b and BTC dominance is around 43%.
Cryptocurrencies rallied late on Sunday as the new Omicron Covid variant is reportedly causing “extremely mild symptoms” so far. Traders will also be closely watching Fed Chair Powell’s testimony to the US Senate on Wednesday, especially for clues around the Fed’s reaction function to the new variant.
Other notable news from the weekend includes: The US Senate is set to reject President Biden’s OCC nominee, Suale Omarova, who has been a vocal critic of crypto; the UK’s tax-collecting HMRC updated its regulations to subject crypto exchanges to a 2% tax as part of its digital services tax scheme; The Bank of Tanzania announced that it is developing its own CBDC; El Salvador President Bukele announced the purchase of 100 more BTC; Bitcoin AUM fell 10% to $49b in November, while altcoin AUM increased 5% to $17b during the month, per CryptoCompare; DEX volume for November is around $100b, well off May’s $163b record, but representing the fourth consecutive monthly increase, per The Block; and Bored Ape Yacht Club, PUNKS Comics, and Gmoney teased Adidas partnerships just days after the sports clothing brand giant announced partnerships with Coinbase and The Sandbox.
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