  The latest moves in crypto markets, in context Edited by Omkar Godbole November 30, 2021 Sponsored by  (Price data as of November 30 @ 12:15 UTC) If you were forwarded this newsletter and would like to receive it, sign up here.
Good morning, and welcome to First Mover. Here's what's happening this morning:
And check out the CoinDesk TV show "First Mover," hosted by Christine Lee, Emily Parker and Lawrence Lewitinn at 9:00 a.m. U.S. Eastern time.
– Omkar
Biggest Movers These are the biggest movers in the CoinDesk 20 over the past 24 hours:
Top Gainers: Top Losers:
The CoinDesk 20 are 20 digital assets filtered from the larger universe of thousands of cryptocurrencies and constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.
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Market Moves by Omkar Godbole Bitcoin and risk assets, in general, faced renewed selling pressure in Asia after drugmaker Moderna's CEO Stéphane Bancel said existing vaccines could be much less effective against the newfound coronavirus variant Omicron.
Ether, the native token powering smart contract blockchain Ethereum, stayed relatively resilient and jumped 4%, hitting two-week highs above $4,600 during the early U.S. hours, helping bitcoin and the broader crypto market regain poise.
Ether's outperformance comes a day after Kelly Strategic Management, an investment firm headed by Kevin Kelly, filed in the U.S. for a futures-based exchange-traded fund tied to ETH.
"The cryptocurrency's supply is dropping," MintingM, a Mumbai-based crypto asset management company, told CoinDesk. "The number of ETH locked in with the ETH 2.0 Deposit contract has reached an all-time high and keeps rising. The EIP-1559 has also been responsible for reducing ETH's supply significantly. It has burned approximately $4.5 billion worth of ether over three months."
On the macro front, money markets pushed back expectations for the Fed rate hike in the wake of renewed COVID scare, fully pricing a 25 basis point hike in September 2022 versus July 2022 last week. That could bode well for bitcoin, gold, silver, and asset prices, in general.  Bitcoin's exchange balance (Source: Glassnode) |
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Technician's Take
by Omkar Godbole
Ether to Outshine Bitcoin, Charts Suggest
Ether-bitcoin's weekly chart (Source: TradingView)
- Ether-bitcoin (ETH/BTC) ratio's weekly chart shows a symmetrical triangle breakout – a technical pattern, indicating a resumption of the rally from December lows and ether leadership ahead.
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A Message from Amber
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BOLO
Be on the lookout for the following events today:
- 15:00 UTC (08:30 a.m. ET):
- Fed Chair Powell Speech
- 15:00 UTC (08:30 a.m. ET):
- U.S. Consumer Confidence (Nov)
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ICYMI
In case you missed it, here are the most recent episodes of "First Mover" on CoinDesk TV:
Bitcoin Rebounds to $58K Level, The Sandbox Raises $93M Led by SoftBank to Expand Its NFT Metaverse
"First Mover" hosts speak to The Sandbox Co-Founder & COO Sebastien Borget for an insider look into the Metaverse gaming space as the firm launches Sandbox Metaverse Alpha. GlobalBlock CEO Rufus Round shares market insights as bitcoin rebounds from a steep selloff. Pat Duffy & Alex Wilson, co-founders of The Giving Block, share how charities and nonprofits can utilize crypto for donations.
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A Message from CoinDesk
Will bitcoin kill the U.S. dollar? Will money become tokenized? How do we use cash?
Since we don't have a crystal ball, we reached out to some of the brightest minds in crypto to share their predictions on "the future of money."
There's only one thread that cuts through all 20 predictions: Whatever the future of money holds, it won't be boring. Read more here.
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Latest Headlines
- Five Things to Know About Twitter's New CEO Parag Agrawal
Agrawal is a "champion" of Twitter's project to develop decentralized social media, the project's leader said.
- Indian Finance Minister Says Monitoring Crypto Ads; Not Weighing Ban
The Indian government is set to bring out a new crypto draft bill in the winter session of parliament.
- Griid Infrastructure Set for NYSE Listing Through $3.3B Merger
Cincinnati-based Griid has three mining facilities in the U.S. and aims to have capacity of 734 megawatts operational by 2023.
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Huobi Group Picks Singapore as Regional Headquarters
The crypto exchange has already moved significant parts of its operations to Singapore.
- Crypto Miner DMG Blockchain Purchases 1,800 New Generation Bitmain Miners
The machines, delivery of which will commence in July next year, will generate an additional 252 PH/s.
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
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