PRICE CHANGE: WTD/YTD
- BTC ($18,610): +17% / +158%
- ETH ($570): +28% / +335%
- XRP ($0.48): +78% / +148%
- UNI ($3.76): -2% / +7% *
- YFI ($26,382): +52% / +3,102% **
- Crypto Market Cap ($454B): +2% / +137%
- BTC Dominance: 64%
* YTD returns from launch date of 9/17/20
** YTD returns from launch date of 7/20/20
STABLECOIN MARKET CAP CHANGE: WTD/YTD
- Tether ($18.5B): +3% / +346%
- USDC ($2.9B): +2% / +449%
THIS WEEK IN CRYPTO
- Blockchain analytics company Chainalysis is raising $100 million in Series C funding, valuing the company at over $1 billion. The round is being led by Lee Fixel's venture firm Addition. Link.
- Bitcoin's market cap hits an all-time high, breaking its previous December 2017 record. Its market cap is now over $328 billion. Link.
- Bitcoin mining revenue has ramped up to pre-May levels, when the mining reward was cut in half from $19 million to $7.9 million a day. It's now back at $19.9 million, partly due to the rise in the price of bitcoin. Link.
- Institutional interest in crypto assets has grown more than 3x since April 2020, according to the head of institutional coverage at Coinbase. Coinbase has seen institutional assets under custody grow form $6 billion to over $20 billion during that time, majority of that coming into bitcoin. Link.
- Total number of DeFi users has surpassed 800,000, up from less than 100,000 at the start of 2020. Total value locked in DeFi application has hit a new high of $14.4 billion, up from $500 million at the start of 2020. Link.
- The US government is working with Circle and LatAm crypto exchange Airtm to route aid for Venezuelan healthcare workers using Circle's USDC stablecoin. The US government is releasing seized Venezuelan funds to Juan Guiado's government, who is contesting the rule of Nicolas Maduro. Guiado is recognized as the legitimate ruler by the US and over 50 other countries. Venezuelan healthcare workers receiving USDC can withdraw the tokens at banks, send funds, or spend the currency online. Link.
- CME Group's cash-settled bitcoin futures have hit an all-time high open interest of $1 billion. The spike in open interest indicates that more money is flowing in the market and traders expect a near-term rise in bitcoin's volatility. Link.
- Depositors have staked more than 100,000 ETH in the ETH2 deposit contract, including a Dubai based conglomerate who invested $10 million. This makes up roughly 20 percent of the 524,288 ETH target. The launch is scheduled to take place December 1. Link.
- Bulk preorders for the latest bitcoin ASIC miners from Bitmain are sold out until spring 2021. The supply shortage follows the price increase in bitcoin and ethereum since Q3. Link.
- Binance, the world's largest crypto exchange, is suing Forbes and two writers for publishing a story last month that it calls defamatory. The story was about Binance's alleged efforts to evade regulators. Link.
- Miquela, the virtual digital influencer founded by venture-backed agency Brud, is teaming up with digital marketplace SuperRare to create all-new digital artworks. Her first piece sold for over $82,000. Link. Link.