Daily Market Update- Mon, Nov 30th, 2020, BTC Claws back toward $19K



Digital assets market: Though $BTC is where everyone will typically come back home to, if you wanted to venture out to the alts, let's take a look at how some of the coins have performed throughout November:

  • $BTC up 20% at 18,450 levels

  • $ETH up 32% to 590s

  • $XRP up 108% to 0.64 after trading around 0.20 to 0.25 levels throughout majority of the year

  • $BCH up 10% to 291 after hard fork saw it peak at 370s early this month

  • $LINK up 12%, peaking at 16 before correcting back to 14 currently traded levels after starting the month around $10 November.

More from Alts and DeFi:

  • DeFi sector saw some volatility after TVL rejected 14.3B, over the past week we have seen the sector drop to lows of 12.85B.

  • $MKR, $WBTC and $COMP hold the top three TVL locked in with 2.6B, 2.3B and 1.54B respectively. A healthy indicator of the amount of optimism is surrounding these new platforms that empower various unique investment opportunities.

News that caught our eye:

  • Ripple making moves as it sells a significant portion of its stake in MoneyGram. After announcing they have sold around 4m shares, they had previously reported to own 6.23m shares of Moneygram with a warrant to purchase nearly 6m more.

  • Recent filings suggest Guggenheim Funds looking to take on up to 10% (nearly $500m) in GBTC with its Macro Opportunities Fund - that’s approx 509,581 $BTC from time of writing if maxed.

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