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Stocks & Crypto Coins Updates

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@Coins

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Since the start of November, the Total Value Locked (TVL) on Arbitrum has remained unchanged while all other blockchains have suffered significant damages.

TVL on Ethereum is down -28%, Polygon is down -19%, and Fantom is down -17%. Solana was the worst hit with TVL down -77%. In comparison, the market price for ETH is down -23%, MATIC is down -11%, FTM is down -18%, and SOL is down -65%.

TVL measures the value stored on-chain for a particular blockchain. When much of the on-chain value is due to the underlying token, TVL changes are highly correlated to price changes of the token.

Arbitrum’s TVL may have remained unchanged due to users farming a potential future airdrop. Users may interact with leading protocols on Arbitrum to increase the amount of ARBI they may potentially receive once the token launches.

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Coinbase and Binance fill in the FTX gap.

December marked the first full month without FTX and FTX US after they filed for bankruptcy.

Both were major exchanges and while only operating for roughly a third of November, FTX managed to claim 11.68% of the fiat exchange market share.

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Forwarded from Crypto Rekt Liquidations Bot
BUSD pairs take up two fifths of Binance trading.

December marked a new high for the share of BUSD trading on Binance at 39.24%, meaning pairs with Binance’s native stablecoin as either the base or quote asset accounted for almost two fifths of the trading volume on the exchange.

The USD volume of BUSD pairs came in at roughly $110 billion, which was actually relatively low compared to the $185 billion of BUSD pair volume in November and is the lowest the raw volume has been since June.

Since volumes across the board slowed in December, the lower volume was able to take up more share.
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Solana remains strong NFT player despite downturn:

Since the collapse of FTX, things have been difficult for the Solana ecosystem due to their ties to the fallen exchange and its sister trading firm.

The TVL on Solana has fallen from $1 billion in early November to just $216 million today. And while you can argue the TVL decline has been largely driven by prices of many Solana-based tokens dropping, activity seems to have also declined, with active addresses and non-vote transactions for November and December being some of the lowest counts of the year.

However, it seems NFTs have served as a light spot for the blockchain, with the week of December 25th being the highest NFT volume since mid-September at $26.12 million.

Solana also never lost its spot as the second most dominant NFT chain by weekly volume as volumes seemed largely unaffected by the FTX drama unlike most other metrics for the chain.

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Decoded: Key takeways from Morocco’s crypto regulatory framework.

The governor, Abdellatif Jouahiri, revealed that they collaborated with the World Bank and the consultant in order to make the cryptocurrency law a reality.

The government of Morocco has come to the realization that the process of allowing everyone to comply with the regulatory framework for cryptocurrencies is lengthy but important.

In addition, Moroccan government representatives reached out to the central banks of France, Sweden, and Switzerland to inquire about the regulatory experiences those countries have had with digital assets.

The governor added that the cryptocurrency law provides a definition for cryptocurrency that is fitted to the context of Morocco. Jouahri went on to say that the piece of legislation does not intend to stifle innovation, but rather to protect people from the dangers involved with trading in the highly speculative market.

https://www.cryptopolitan.com/some-takeaway-from-morocco-crypto-regulation

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Important events this week

Jan 4: ISM, JOLTS, FOMC Meeting Minutes.

Jan 5: ADP Non-Farm Employment Change.

Jan 6: Unemployment Rate, ISM Services PMI.

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Forwarded from Bitcoins
🇺🇸 In the US, someone (they say US senator) registered a trademark called "Bitcoin Bank America".

https://tsdr.uspto.gov/#caseNumber=97200867&caseType=SERIAL_NO&searchType=statusSearch

@Bitcoins
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Are we really in a bear market?

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Coinbase settled with New York state financial regulators to the tune of $100 million on Wednesday over issues with its anti-money laundering program.

The New York State Department of Financial Services fined Coinbase $50 million and required the company to invest another $50 million into its compliance program.

"Coinbase lacked sufficient personnel, resources, and tools needed to keep up with these alerts, and backlogs rapidly grew to unmanageable levels," NYDFS alleged.

The settlement documentation provided insight into some of the specific conditions and incidents that fueled the NYDFS investigation into Coinbase’s KYC program, which it called “immature and inadequate.”

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FOMC Minutes: Officials Said Further Rate Increases Would Be Necessary --WSJ

FOMC Minutes: Officials Agreed Rate Cuts Shouldn't Happen in 2023 --WSJ

FOMC Minutes: Officials Emphasized Need for 'Flexibility and Optionality' in Policy Decisions --WSJ

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Celsius Network Acquires Ownership of Customer Cryptocurrency Deposits.

Now, Celsius can take the control of $4.2B in cryptocurrency that consumers invested in its Earn program.

Celsius has over 600,000 accounts in its Earn program as of July 10, 2022.

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Bank of England answers professionals’ questions about upcoming CBDC wallet.

Companies that applied to win over the $244,000 contract to develop a central bank digital currency (CBDC) wallet proof-of-concept (PoC) for the Bank of England (BOE) provided questions about the project. In response, the central bank published its answers to over 70 questions.

https://cointelegraph.com/news/bank-of-england-answers-professionals-questions-about-upcoming-cbdc-wallet

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A tale of token theft:

Once again we’re reminded of the perils that can befall private key holders, as a big name in the NFT space gets his tokens pinched.

Nikhil Gopalani, COO of Nike’s RTFKT web 3 brand, has suffered a hack resulting in at least $173k worth of NFTs being drained from two of his wallets. The majority of the value stolen was in the form of 19 NFTs of the hugely popular CloneX collection.

Gopalani says the hack took the form of a phishing attack, in which the attacker impersonated Apple customer support. Most of the NFTs have already been sold, with Gopalani trying to stay positive by tweeting that he hopes those who bought them “love them.”

RTFKT has been a major name in the NFT space for over a year, and was acquired by Nike in December 2021 for an undisclosed amount. Since then however, weekly NFT trading volume has plummeted by over 80%.

Source: Trading View

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Rumors? Real?

This had an impact on $TRX and $HT. Both dipping.

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