Weekly Crypto Market Insights – 19th December

What’s trending.. Trump’s NFT collection sold out, OKX withdrawals were halted, and Mazars stopped auditing work for all crypto clients, among many other news presented below..

The SBFs drama continues with:

• SBF was arrested by the Bahamian authorities
• Three exec’s that could’ve sent user funds to Alameda: SBF, director of engineering Nishad Singh and CTO Gary Wang.
• How creditors can get money back from FTX: target large institutions that may have known FTXs situation & failed on their fiduciary duty, such as Silvergate.

On the bright side:

• Building in the crypto space & fundraising continues – most newsworthy being Amber Group’s Series C $300M raise, $100M raise led by a16z for web3 privacy firm Aztec Network, and $3.5M raised for NFT Infrastructure protocol Decent.
• Decent growth in South America for Bitso, driven by solid demand for stablecoins.

On the regulatory side:

• G20 leaders in talks to prepare an agreement of policy for crypto assets
• CBDC digital euro included as a legislative priority for 2023 and 2024.

You can find a complete list with a link to each news scoop at the end of this article.

Market Overview

The global crypto market fell by -4.80% WoW. Bitcoin is trading at $16,726 , down by -1.26%, and ETH is down by -5.05% WoW, trading at $1,183.

Key Market Metrics

Global Crypto Market Cap fell by -4.80% WoW, valued now at $841 Billion. The total value locked in DeFi is at $39.63 Billion, an increase of +2.15% WoW.

Crypto exchanges leaderboard by 7 Day trading volume:

1. Binance up by +12.61%
2. Coinbase up by +41.43%
3. Kraken up by +18.06%
4. KuCoin up by +21.24%
5. Bitstamp up by +60.21%

BTC trading at $16,626, dominance at 42.00%, up by +1.43% WoW, ETH trading at $1,183, dominance at 18.87%, up by +0.10%.

Top Gainers & Losers

Top gainers and losers in price, ranked by their total market cap, are mentioned below.

Top gainers in price this week were: TON by +35.31%, XDC by +16.32%, LEO by +6.80%, OKB by +5.89%, and BSV by +2.88%.

Top losers were: TWT by -36.76%, XCN by -32.11%, FIL by -28.76%, USDN by -27.63%, and STX by -24.73%.

Recap of the Most Noteworthy News of the Past Week

• Some of the top stories to look out for this week
• Three biggest stories in crypto from last week by The Block
• OKX is facing issues with processing withdrawals, blaming its cloud services provider
• Auditor Mazars stops all work for crypto clients
• Donald Trump’s NFT collection sold out & trading volume surpasses $1M
• Money stuck in FTX? Here’s how you could get your money back
• 3 FTX Execs that had the access to send user funds to Alameda
• Binance’s Proof of Funds questioned by industry critics
• SBF stays in custody as Bahamian authorities refuse bail
• G20 to discuss the development of a global crypto policy
• PayPal to offer crypto onramp partnering with MetaMask and ConsenSys
• Argentina, Brazil, Colombia, and Mexico are all showing a good institutional appetite for stablecoins
• Silvergate faces a class action lawsuit for breach of fiduciary duty related to its visibility & management of FTX’s and Alameda’s accounts
• Raydium, a decentralized exchange built on Solana, was hacked for $4.4 million
• Amber Group raises $300 million in Series C round
• A $100M fundraise led by a16z for web3 privacy firm Aztec Network
• $3.5M raised from Y Combinator & others by NFT infrastructure protocol Decent
• The Digital euro is put on the priorities list for 2023 & 2024 by the EU
• Crypto events calendar optimistic for the next year despite the market downturn

Thanks for reading our weekly crypto market insights! We hope you found it valuable.

Weekly Crypto Market Insights 19:12