The bulls are out to play today, with Bitcoin up +2.6% to $16841 and Ethereum up +4.6% to $1267. No major catalyst was seen for the small pop, although ‘technical traders’ are keen to call a local bottom — correlation to traditional equities still remains high for crypto, so unless macro fully recovers, it's hard to imagine a major rally from here. Unless consumer spending recovers in an inflationary environment, the Santa rally many are hoping for into year-end may never come.
NFT volumes are about $15M on the day, with ETH-NFTs printing $10M and Solana-NFTs at a whopping $4M. Phantom Wallet has announced they’ll be integrating Ethereum and Polygon, an inevitable move. DeGod’s creator has doxxed himself, creating buzz for the project and y00ts— there were 215 trades today for $1.2M in volume in DeGods and a $1M turnover for y00ts. BAYC comes in second with $1M in turnover. ApeCoin is up +25% to $4 on the day as ApeCoin staking pre-deposits start on December 5th.
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