OSL Daily Update - November 16, 2020 

$BTC 24 Hour High $16,123.11
$BTC 24 Hour Low $15,793.53
$BTC -0.8%

Good morning! The weekend markets saw a bit of volatility as $BTC dropped on both Saturday and Sunday, moving down 2% to 15,900 levels with a traded range of 350 as $BTC was unable to challenge 16,500 levels. Currently showing oversold RSI levels for the past month as it moved +22% since last month and trading at neutral levels as it finds a footing back into 16000s. 

 
Alts and DeFi watch:

  • DeFi TVL was unable to break through 14B TVL at 13.85B, opening this week at 13.41B with coins like $YFI, $AAVE, $COMP, $UNI and $SUSHI up 15 to 30% over the past seven days. Notably, even with DeFi TVL reaching new highs past the initial craze a couple months ago, we’re seeing less projects for “degens” that held crazy APRs on random food token projects that had put DeFi on the map.


News that caught our eye:

  • More on the subject of PayPal. It will remove the waitlist for its new crypto offering, previously only 10% of its customers were able to access its crypto service. Weekly transaction limits were increased from 10k to 20k. Clearly demand driven action that is an encouraging sign for market observers.

 

 

OSL Trader View and Weekend Digest are contributed by Stefan Chu, SJ Oh, and Santiago Nazaretti

 


 

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