Trading Desk Market Update: 12/23

December 23, 2021

BTC is currently trading around $48,800 and ETH around $3,950.  Notable gainers in the last 24 hours are NEAR, CVX, and SUSHI.  The global crypto market cap is $2.41T, down 0.6% over the last day.  DeFi Total Value Locked is ~$250b and BTC dominance is around 40%.

Notable news includes: 51 countries have banned crypto, according to a report by the Law Library of Congress; Paraguay’s Senate has passed a bill seeking to regulate the local cryptocurrency industry; news reports suggest India’s crypto law may not be ready before May; more than 100 out of 170 “digital payment token services” in Singapore have reportedly failed to obtain licenses from the MAS; global interbank messaging network SWIFT revealed plans to experiment with supporting tokenized assets in 2022; Bitcoin miners generated over $15b in revenue in 2021; BNB officially announced the implementation of a new auto-burn protocol; Uniswap v3 is now deployed on Polygon; and, Bored Apes’ floor price briefly passed that of CryptoPunks for the first time.

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