Crypto Markets Climb Closer to $1.2K, Bitcoin Price at $16.7k, FOMC Coming In

Daily Market Update 1/3: BTC is currently trading around 16.7k and ETH around 1.2k. Notable gainers in the last 24 hours are SOL, FLOW, and LDO.

The global crypto market cap is 842B, up 0.3% over the last day. DeFi TVL is ~39b and BTC dominance is around 42%

Traditional financial markets are off to a positive start to the year, while crypto prices are up modestly on the day. German inflation cooled in December from the prior month and also came in below expectations. Investors now turn their attention to tomorrow’s FOMC meeting

.@SBF_FTX will reportedly plead not guilty to fraud charges relating to the collapse of FTX; @cameron co-founder of @Gemini & @BarrySilbert CEO of @DCGco are engaged in a Twitter battle regarding 900m of trapped Gemini Earn funds;

.@Gemini Earn users filed a class action arbitration against @GenesisTrading & @DCGco Morocco drafted a crypto regulatory framework & may introduce its first crypto bill in the coming days; @binance is reportedly close to buying South Korean crypto exchange @GOPAX_kr

For other notable news of the day, check out the full crypto market commentary here:

Daily Market Update: Jan 3, 2023 - GSR Markets

This post is based on this twitter thread.