Daily Market Update - December 21, 2020- Ledger Compromised



Digital assets market:

  • On the digital asset side: $BTC on its fourth day above 20K with signs of the bull run slowing down with this morning waking up to a 2% correction down from 23,936 to 23,420 levels, down 500 USD from the time of writing. MTD up 20%, YTD up 230%

  • $BTC Futures volumes stabilised around 35B after seeing highs of 86B on Dec 17th with prices at 23720. (Prices have since exceeded this pre-ATH the following days after)

  • Market cap dipped below 650B over the weekend but climbed back to 659B by Asian morning hours. Has logged its fifth day above 600B.

  • $ETH corrected down 3% overnight from 659 to 639, trading within a 40 USD range over the past few days with support level at 620. Seeing daily averages of >120K new Ethereum wallets created for the past few days.

Alts and DeFi watch:

  • $YFI volatile with 3K traded range, range bound between 25.5K and 28.7K.

  • Defi TVL at 16.58B, dipping slightly from its ATH of 16.77B yesterday.

News that caught our eye:

  • US Floats Long-Dreaded Plan to Make Crypto Exchanges Identify Personal Wallets. Users of centralized cryptocurrency exchanges who want to move their holdings onto their own private wallet, or to someone else’s, would have to provide detailed personal information for transactions greater than $3,000, and exchanges would be required to report either individual or groups of transactions that add up to more than $10,000 to the Financial Crimes Enforcement Network (FinCEN). The proposed flow add an additional transaction would be: EXCHANGE -> KYC Wallet Address

  • Square’s Cash App Now Lets Customers Get Bitcoin Back on Purchases

  • Legendary financial advisor Ric Edelman believes potential upside in $BTC

  • Stay vigilant: Ledger has been confirmed to be compromised. Compromised data: Email addresses, Names, Phone numbers, Physical addresses. A communication is being sent to all clients (~1M email were in the database) and individually to all the ~272.000 clients for which more personal data were exposed This is a list of all compromised data: https://intelx.io/?did=8761746e-d333-4256-bbcd-9100c8722799

Is Tesla Getting Into Bitcoin?

Has MicroStrategy’s Michael Saylor just persuaded Elon Musk to buy Bitcoin? On Twitter, Saylor had said Musk could do his shareholders a "$100 billion favor" by switching Tesla’s balance sheet from dollars to Bitcoin. Musk replied by asking whether it was possible to complete such a large transaction. Read their full Twitter conversation here.


MicroStrategy’s $1B Bet on BTC

Speaking of MicroStrategy, it’s official: the company now owns more than $1 billion in BTC. The publicly listed firm has snapped up another 29,646 BTC after raising $650 million by selling debt securities. In total, it has 70,470 BTC in its coffers, which were purchased for an average of $15,964. That equals a current profit of approximately $470 million. Read more


U.K. Exchange Suffers Hack 🇬🇧

EXMO has suspended withdrawals after 5% of its total assets were stolen from hot wallets. The company discovered suspicious activity involving six cryptocurrencies in the early hours of Monday. The police are now involved — with the London-based exchange stressing that cold wallets were unaffected and any user losses will be "covered completely." Here’s the latest.

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