Daily Update - December 10, 2020

After a sizable dip of 8% on $BTC, it's clear one man's buying is another man's selling. Michael Saylor announced his 400M senior convertible notes news regarding MicroStrategy. It seems to have been interpreted as a sell signal for the short term by some market participants. Even though this was $BTC related, it dragged the whole crypto market down, losing around 40 billion at its lowest point. We've bounced back since then: +4.28% on $BTC and up 0.55% to 63.55 for $BTC dominance, and recovered 270MM TVL on the DeFi sector.

Alts and DeFi watch:

  • $ETH up 7% from lows

  • $SUSHI up 13% from the lows

  • $AAVE up 9% from the lows

  • $ETH, $SUSHI looking better than $AAVE structure wise.

More news that caught our eye

  • Andre Cronje, creator of the Yearn Finance ($YFI) protocol, hinted at collaborating with SUSHI Swap, and later revealed a beta product for anyone to test.

  • Toronto Venture exchange listed, DMG Blockchain Solutions has announced one of its subsidiaries has launched a mining pool focused on governance, auditability, transparency and intent on exceeding OFAC compliance standards

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