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Monday Market Report | 21 - 27 Nov, 2022

Nov 28, 2022
byNDAX Labs

📢 Weekly TL;DR

  • BTC, ETH reclaim $16B amidst mild American Thanksgiving Recovery
  • This week, NDAX's Chief Operating Officer, Tanim Rasul, was invited to speak at the House of Commons – Canada’s Standing Committee on Industry and Technology study of Blockchain Technology
  • You can check out the short video here
  • For the full meeting, click here

📻 Crypto News


  • Web3 / VR gaming studio Thirdverse raises $15 million in funding round – TheBlock
  • Proximity Labs unveils $10 million developer fund for protocols on Near – TheBlock
  • Polkadot-based protocol t3rn raises $6.5M – TheBlock


  • BTC, Eth Post Thanksgiving Gains as Crypto Market Claws Back $12B – Decrypt
  • Dollar Cost Averaging Would Have Saved El Salvador $18M – Blockworks


  • SEC facing rising scrutiny after FTX’s epic implosion -- TheBlock
  • State Regulators Investigating Crypto Firm Genesis Global: Barron’s -- CoinDesk

📝 Moves

  • Bitcoin (BTC) CA$21,722.80 +0.11%
  • Ethereum (ETH) CA$1,571.30 +3.81%


  • Dogecoin (DOGE) CA$0.13 +25.28%
  • Litecoin (LTC) CA$95.84 +17.86%
  • Chainlink (LINK) CA$9.03 +16.88%


  • Algorand (ALGO) CA$0.31 -8.49%
  • Gala (GALA) CA$0.033 -3.83%

Visit our Prices Page for more

*As of 11/28/2022 1:00 AM EST

📊 Cryptocurrency Market Overview

Far be it from us to claim that bullishness has returned to crypto markets… But in the wake of several harrowing weeks, it appears as though the industry has at least begun to begin to see a glimmer of light (around the bend), ostensibly, at the end of a very long tunnel.

If you’ll forgive the euphemism; the industry added about CAD$16B in Market Cap over the week, and as market participants lick their wounds in the settling dust, investors and stakeholders are rallying around the prospect of a safer, more transparent marketplace for all.

- Yours in the #Hodl

📈 Bitcoin Technical Analysis

  • Bitcoin has maintained support at CAD $22K
  • Current resistance levels: $24,500 - $26,000
  • Current support levels: $22,000 - $21,000

📰 What We’re Reading

  • El Salvador Takes First Step to Issue Bitcoin Volcano Bonds – Bitcoin Magazine
  • SEC Under Gensler: Crypto Power Grab or Effective Protection? - Blockworks

🎙️ What We’re Streaming

Michael Saylor on #Bitcoin and #Crypto in the wake of #FTX Collapse

📅 Events

  • Dec 14th – FOMC Interest Rate Decision

🔎 NDAX Feature

Did you know you could set your Dollar Cost Averaging on Autopilot with the NDAX Recurring Purchase feature?

Dollar-cost averaging allows you to buy smaller amounts of an asset over a long period of time at different prices. As the cost of assets moves in a zigzag manner, investing at regular intervals allows you to buy an asset at an average price versus buying a huge chunk at one price point.

🕑 Invest consistently

Recurring purchases are an effective solution for traders looking to invest at an average price over a longer timeframe.

📈 Forget complex price movements

As more institutional and retail investors enter the crypto markets, prices of cryptocurrencies are gaining stability. However, you may still not want to take any significant risks with your money by trying to time the market.

💰 No need for a large sum of money

Investing a considerable amount at once is not possible for everyone. The dollar-cost average approach can be a good choice for investors looking to slowly enter the cryptocurrency market.

Upon login, Recurring Purchases are 6th from the top of the main left-hand menu/navigation bar.

Disclaimer: This article is not intended to provide investment, legal, accounting, tax or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.