Podcast: Hear Truvius on CoinDesk’s Markets Daily Podcast

Check out this week’s CoinDesk Markets Daily Podcast to hear Truvius CEO & Co-Founder Connor Farley provide market commentary on last week’s price action and insights on a multi-sector approach to the crypto economy: Listen here

Transcript of commentary:

Both spot and derivative digital asset markets surged in prices and global trading volumes over the trailing month, driven by investor optimism surrounding pro-crypto political shifts and increased regulatory clarity in the U.S., particularly the nomination of Paul Atkins as SEC chair announced earlier this week.

Global trading volumes on centralized exchanges reached nearly $3 trillion while Bitcoin and Ethereum futures volume climbed to a combined $4 trillion in November alone, marking the highest aggregate monthly crypto trading volume in more than three years. Exchange data suggests a more globally distributed trading boom as well, with APAC markets contributing significantly to the surge in volume and crypto exchange Binance processing more than one third of the centralized exchange volume.

While Bitcoin hit $100,000 this past Wednesday—a widely anticipated milestone for the megacap asset—meaningful sector rotations have occurred across the crypto economy as assets within the DeFi, Smart Contract, Utilities and Infrastructure, and Media and Metaverse sectors and spanning large-, mid-, and small-cap sizes have gained significant market cap dominance. Correlations among sectors also reflect dispersion within the asset class, with the average 30-day correlation dropping to about 0.3 between Bitcoin and each of the four aforementioned sectors.

From a sector perspective, strong DeFi usage and rising NFT sales drove November outperformance among assets like the decentralized market maker Curve Finance and the metaverse platform The Sandbox.

For some assets like Ripple, Solana, and Cardano, speculation surrounding potential spot ETFs for these assets fueled outsized price appreciation relative to peers, with Ripple and Cardano more than doubling in price over the trailing month.

At a thematic level, price momentum and politically focused speculation have broadly dominated recent markets, while more value-oriented signals pertaining to blockchain fundamentals have underperformed, suggesting a broader-based and widening dislocation between prices and fundamentals.

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