Quick Recap of Global and Crypto Market Trends in 1 Minute 13.12.2023

You can read the summary of markets report in 1 minute, which we have compiled daily important news about crypto money markets, global market news and domestic markets.

Cryptocurrencies

  • It is said that Terraform Labs co-founder Do Kwon, who is rumored to be extradited to the USA, will stay in Montenegro until February.
  • Garanti BBVA launched its new application “Garanti BBVA Crypto” for iOS, which offers crypto wallet and transfer services.
  • KuCoin reached an agreement with New York regulators on the condition that it pay a $22 million fine and terminate its operations in New York.
  • Coinbase announced its smart contract-supported platform called “Project Diamond”, which will provide companies with services such as buying and selling crypto money.
  • Avalanche has become one of the few major cryptocurrencies to withstand the recent decline, surging 79 percent in a week while other coins are falling. Some analysts have pointed out that this is due to recent partnership announcements, an increase in transaction volumes and the amount of total value locked.
  • The Chinese government is planning to create a blockchain-based authentication system that will allegedly help keep personal data and credentials safe.
  • The tension between the IRS and FTX, the government agency responsible for enforcing tax laws in the USA, continues. FTX’s legal team rejects IRS’ $24 billion tax request
  • Sam Bankman-Fried’s general counsel admitted in a statement that the chances of winning the FTX fraud case are very low.
  • The International Federation of Football Associations (FIFA) announced that it will launch the NFT collection on the Polygon network on December 15, 2023. It was stated that 100 NFTs will be offered for sale first in the NFT collection, and NFT owners will have the chance to win tickets for the 2026 World Cup final.
  • Morph, a layer 2 consumer blockchain for value-focused dApps, announced a multimillion-dollar investment from Web3 and cryptocurrency trading platform Bitget.

FED

  • Investors are waiting for the FED interest rate decision to be announced today at 22:00 Türkiye time.
  • Before the interest rate decision, based on the pricing in the money markets, the probability of the FED starting to reduce interest rates in March was 45 percent, and the probability of starting it in May was 75 percent.

Global Markets

  • Global markets are following a positive trend after inflation continues to slow down in the US. Investors are waiting for the FED interest rate decision to be announced today at 22:00 Türkiye time.
  • The Consumer Price Index (CPI), announced yesterday in the USA, increased by 0.1 percent on a monthly basis in November and increased by 3.1 percent on an annual basis. Annual inflation, which continues to slow down, recorded its lowest level in 5 months.
  • Yesterday in the New York Stock Exchange, the Nasdaq index increased by 0.70 percent, the S&P 500 index increased by 0.46 percent and the Dow Jones index increased by 0.48 percent. Index futures contracts in the USA started the new day on a positive note.
  • While a negative trend stood out in Europe yesterday, the intense data agenda across the region has become the focus of investors today.
  • On the other hand, the European Union (EU) Commission has prepared a plan to transfer the revenues from frozen Russian assets to a different account to help the reconstruction of Ukraine.
  • While a negative trend was observed in Asian markets on the new day, except for Japan, the real estate sector led the decline in China and Hong Kong share markets.
  • A barrel of Brent oil is traded at $72.62 in international markets

Technology and Stocks

  • Last day, the shares of software company Oracle lost more than 12 percent in value after the company’s revenue fell below expectations, while the shares of Exxon Mobil and Chevron fell by more than 1 percent as oil prices fell.
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