Trading Desk Market Update: 2/17

February 17, 2022

BTC is currently trading around $42,700 and ETH around $3,050.  Notable gainers in the last 24 hours are JUNO, ATOM, and DASH.  The global crypto market cap is $2.04T, down 1.9% over the last day.  DeFi Total Value Locked is ~$208b and BTC dominance is around 43%.

Crypto prices are down slightly after reports that Russia is increasing its troops near the Ukraine border.  Meanwhile, yesterday’s FOMC minutes revealed no surprises about the Fed’s monetary policy plans, though participants did raise concerns about emerging risks associated with the rapid growth in crypto-assets and DeFi.  

Other news includes: The UAE is reportedly planning to issue federal crypto licenses for digital asset firms; Canada’s Royal Canadian Mounted Police sent letters to several crypto exchanges demanding that they cease facilitating donations to the ongoing trucker protests in the country; the US state of Colorado will accept crypto for state taxes; Twitter has added the ability to send and receive tips in ETH; crypto platform Voyager Digital plans to add equity trading and NFT products; NFT marketplace x2y2 has launched a vampire attack on OpenSea; Bitcoin mining difficulty hit its third all-time-high in a row; and, Cosmos has released Interchain Accounts enabling IBC composability.

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