Trading Desk Market Update: 12/31

December 31, 2021

BTC is currently trading around $48,000 and ETH around $3,800.  Notable gainers in the last 24 hours are CEL, AR, and CVX.  The global crypto market cap is $2.38T, up 0.9% over the last day.  DeFi Total Value Locked is ~$250b and BTC dominance is around 40%.

Notable news includes: The Shanghai Municipal Commission of Economy and Information Technology’s five-year development plan calls for exploring the metaverse as a way to deliver public services; Senate Aide Corey Frayer has joined the SEC as a senior advisor overseeing crypto policy; South Korea will begin taxing inherited or gifted crypto starting in 2022; MicroStrategy purchased an additional $94m worth of BTC; The Ontario Securities Commission stated that Binance is not registered to operate in the province after the crypto exchange emailed users saying they can maintain their accounts; and, crypto was the number one topic on Reddit in 2021 with Dogecoin the top crypto subreddit.

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