POKKET: Today’s Market Commentary (January 8)

BTC & ETH continue to rally. Bitcoin makes a new ATH overnight, touching $40402 and now trading $39850, up 8.2%. ETH is +6% now at $1260, making new year high and inching closer to the ATH. Movers are BQX +44%, YFI +38%, OAX MANA +28%, YFII +17%, OGN +16%, and most of Pokket universe is up. VALUE LRC KNC -9%.

As Bitcoin surged higher, Coinbase, Binance and Kraken all experienced downtime with Coinbase hit the hardest. In XRP news, which has rebounded to 35cents in recent days +50%, Ripple said the firm tried to settle with the SEC with no luck. Brad Garlinghouse made a cryptwit thread ‘answering’ questions, all but the most important one – did they pay exchanges for XRP listings?

Bitmex has completed KYC on all users, although total assets have dropped 66% since starting the process. Wrapped Monero has started listing on exchanges, WXMR secured by custodian BTSE. Lastly, Korea is proposing a new crypto tax in 2023, taxing all profits at 20% starting from a low hurdle of $2300.

Traditional markets were up as the Nasdaq made a new ATH of 13k. SPX +1.5%, FAANGs +2.3%. DXY still below 90, with USDJPY relieving some pressure now at 103.77. Gold unch at $1915. 10yr yields continue grinding higher, now 1.085%. Elon Musk is now the richest man on earth, now worth $191B – DOGE pump coming?

Check out today’s interest rates at POKKET.

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