BTC is currently trading around $67,900 and ETH around $4,800. Notable gainers in the last 24 hours are LPT, LRC, and BAT. The global crypto market cap is $3.08T, increasing 2.3% over the last day. DeFi Total Value Locked is ~$275b and BTC dominance is around 44%.
Bitcoin hit a new all-time high earlier in the day, reaching $68,642. The cryptocurrency is up 23% over the last 30 days, with the strength due to the launch of the first US Bitcoin ETF, continued strong institutional fund flows, rising network transaction volumes, addresses, and hash rate, growing Lightning Network users, falling exchange balances, and the coming Taproot upgrade. Ethereum too reached another all-time high, hitting $4,857 several hours ago and is up 34% over the last 30 days. Ethereum has benefitted from the successful Altair update, record DeFi TVL, continued daily burns, rising daily active addresses and network hash rate, and the potential for a US ether ETF.
CBDCs are also in the news today. The Banque de France called for further examination of wholesale CBDCs, a representative from Singapore’s MAS spoke of ramped up efforts for a retail CBDC, Russian lawmakers are reportedly working on legal adjustments needed to implement a digital ruble plan in early 2022, the Swiss National Bank said it will be technically ready to launch a wholesale CBDC in January of next year, and the ECB’s Fabio Panetta said CBDCs are “likely” to be legal tender, giving them an edge over other payment options provided by private companies and helping to achieve wider use by the public.2021.11.09
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