Yellow Capital Blog/Weekly Crypto Digest/Weekly Crypto Digest for December 4 - 10, 2023

Weekly Crypto Digest for December 4 - 10, 2023

Monday, December 11, 2023

In the latest issue of Weekly Crypto Digest read more about Bitcoin hits $40'000, JP Morgan CEO against crypto, Over 60% of countries legalized crypto, Coinbase and Bybit are the biggest gainers in US vs Binance.

Bitcoin reached year-high

Bitcoin at $44000

On Monday, December 4, BTC quotes reached $41,500. The next day, the growth continued - the price of the asset tested the level of $44,000.
At the time of writing, Bitcoin is trading below $44,000.
On December 9, quotes of the second largest cryptocurrency by capitalization immediately exceeded $2,400 for the first time since May 2022. At the time of writing, Ethereum is trading at $2,350.
All digital assets from the top 10 by capitalization ended the week with growth. The biggest gainers were Cardano (+52.9%), Dogecoin (+19.8%) and Solana (+17.3%).

JPMorgan CEO calls on US authorities to shut down cryptocurrencies

JPMorgan Chase CEO Jamie Dimon, at a meeting with US legislators, spoke about the need to introduce serious restrictions on digital assets.
When Massachusetts Senator Elizabeth Warren asked why cryptocurrencies are an attractive tool for criminals, Dimon noted the possibility of circumventing government controls.
The head of JPMorgan also called for increased government control over stablecoins.

Over 60% of countries in the world have legalized crypto

Over 60% of countries in the world have legalized crypto

More than half of the world's countries have legalized cryptocurrency, according to a new report from the analytical platform CoinGecko.
The analysis showed that digital assets were approved by 119 states and 4 UK overseas territories. Thus, over 60% of countries in the world have legalized cryptocurrencies.

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Coinbase and Bybit saw the biggest growth in market share after settling US claims against Binance

Using Bitcoin as a benchmark, Kaiko recognized Bybit as the direct winner of the Binance settlement of claims by the US authorities. BTC trading volume on the site jumped by more than 20% in every 16 of the 24 hours following the events.
Experts also drew attention to the additional impetus for the growth of Coinbase shares. In November, the capitalization of the largest US Bitcoin exchange grew by 75%, since the beginning of the year - by 250%.
Coinbase's share rose the most outside trading hours in the US following the settlement, while OKX's performance rose most notably early in the trading day in Western Europe.

Coinbase CEO denies rumors of Base token release

Coinbase CEO Brian Armstrong said that the exchange does not plan to issue a native token of the Base network shortly.
“We currently have no plans to issue any tokens for Base. However, I still think it's a viable idea. We're not ruling it out completely," Armstrong said.
According to Armstrong, the exchange aims to make Base “more than that” by integrating it into the rest of the crypto space.
As a result, the developers plan to make transactions on the network cheaper than $0.01 and processed in less than 1 second.

Blur increased NFT market share to 80%

NFT marketplace Blur accounts for ~80% of non-fungible token trading volume, while OpenSea has dropped to ~17%.
Blur strengthened its position against the background of a surge in user activity observed since November.
According to the publication, the trade volume of Ethereum-based NFTs last month amounted to $605 million. For comparison, in October it was $306 million.

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