By Shikha Singh
Bitcoin Faces Uncertainty Amid High USDT Liquidity as Investors Adapt to Market Volatility.
Bitcoin briefly surpassed $100K following optimistic election results, but heavy speculation and profit-taking have pushed its price downward.
Stablecoins like USDT are gaining popularity as investors seek safety amidst uncertainty. Over the past 30 days, Tether has minted $19 billion in USDT, signaling a shift toward stability. However, this influx has sparked mixed sentiments: some view $100K as Bitcoin’s local top, while others anticipate a rally driven by increased liquidity.
Key factors to watch include Bitcoin’s fundamentals, USDT exchange flows, and the balance between bullish optimism and rising volatility, which may favor stablecoins over Bitcoin for the time being.
Bitcoin Whales Scoop up 20,000 BTC Worth $2 bn in 24 Hours.
Bitcoin [BTC] has rebounded to $100K, driven by significant whale activity. In the last 24 hours, whales accumulated 20,000 BTC worth $2 billion, marking a 1453.8% net inflow surge.
Historical trends show whale accumulation often precedes price hikes, as seen during previous rallies in 2020, March 2024, and November 2024.
Currently, investors are withdrawing tokens from exchanges, signaling a strong accumulation trend and potential supply squeeze. If conditions persist, BTC could reclaim $103,600 and aim for new highs.
Crypto Wallets Swell to 400 mn with Rising Bull Market.
Cryptocurrency adoption is growing, with over 400 million wallets holding positive balances amid a bull market. A Chainalysis report highlights the convergence of traditional finance (TradFi) and crypto, driven by ETFs offering regulated exposure to digital assets. Stablecoins dominate on-chain activity, accounting for 50%-75% of transactions in 2024, serving as stores of value and tools for remittances in emerging markets like Latin America.
Policymakers recognize stablecoins’ potential to reduce cross-border costs and boost Treasury bill demand.
Major Setback For Solana ETFs As SEC Plans To Reject Pending Applications.
The SEC plans to reject at least two Solana ETF applications, signaling challenges for SOL ETFs under the current administration. Grayscale and other asset managers like 21Shares and VanEck have filed for SOL ETFs, but the SEC has concerns, including Solana’s potential classification as an unregistered security.
However, changes in leadership may revive optimism. Gary Gensler will step down as SEC chair in January, with crypto-friendly Paul Atkins set to replace him. Additionally, President-elect Trump has tapped David Sacks, a known Solana investor, to oversee crypto policy, potentially paving the way for SOL ETF approvals in 2025.
Argentine Senator Eyes Crypto Mining, Bitcoin ATMs Surge in Brazil.
Latin America is seeing significant growth in cryptocurrency adoption. In Argentina, Senator Ezequiel Atauche proposed including Bitcoin mining and blockchain under Law 27,506 to clarify regulations, improve energy access, and foster innovation.
This would establish these sectors as significant catalysts for economic growth. In Brazil, Bitcoin ATMs have surged from four in 2021 to nine across major cities, reflecting increased demand for cryptocurrencies.
Meanwhile, the Cardano Constitutional Convention started in Buenos Aires, with over 120 delegates working to finalize its governance framework. This event highlights the region’s growing leadership in decentralized innovation and its focus on financial inclusion and local talent development.
Michael Saylor Claims Bitcoin is the True Long-Term Investment, Not Stocks.
Michael Saylor, Executive Chairman of MicroStrategy, views Bitcoin as the ultimate long-term asset and a reliable hedge against inflation.
He advocates for a decade-long investment approach, encouraging investors to steadily purchase Bitcoin with spare funds, despite its short-term volatility.
Saylor believes Bitcoin will outperform traditional assets and fiat currencies over time. Under his leadership, MicroStrategy has accumulated 402,100 BTC, valued at $40.12 billion, reflecting an unrealized profit of $16.64 billion, a 70.86% gain.
Saylor’s strategy is clear: hold Bitcoin and ignore temporary market fluctuations, emphasizing its potential for wealth preservation and long-term growth.
EigenLayer’s Rewards v2 Set to Transform Staking in 2025.
Major Ethereum restaking protocol EigenLayer plans to launch its rewards v2 upgrade in January 2025. This upgrade will allow reward distribution based on validator performance and enable validators to set their fees for greater flexibility. It also introduces batch reward claiming, which aims to reduce gas fees. With $19 billion in collateral, EigenLayer allows ETH stakers to reuse tokens for additional revenue. Through its native EIGEN token and incentive programs, EigenLayer is driving innovation in Ethereum’s ecosystem.
600% Hike Pushes Hedera (HBAR) Open Interest to All-Time High, Traders Expect More.
Hedera (HBAR) has seen a significant surge in open interest, reaching a new all-time high of $417.98 million, following a 600% price increase over the past 30 days.
This indicates heightened trader activity and suggests that more buyers are entering the market. The positive funding rate also points to a bullish sentiment, with traders betting on further price increases.
The combination of rising open interest and a positive funding rate suggests that HBAR’s price momentum may continue in the short term, although a potential retracement could occur if open interest declines.
XRP Whales Hit All-Time High as Institutional Interest Signals $10 XRP Price Coming.
XRP has seen a surge in institutional interest, with addresses holding between 1 million and 10 million XRP recording inflows exceeding $1.1 billion.
Increased whale activity has driven the asset’s price up 29% in the last week and 352% in the last month.
XRP’s strategic role in cross-border payments, along with Ripple’s partnerships and positive regulatory signals, has attracted more institutional players.
However, on-chain analysts warn that whales may consider profit-taking if the price reaches $10. XRP’s growing market cap, now above $139 billion, reflects the asset’s rising demand, potentially fueled by favorable market conditions.
Mog Crypto Hits $1.5 bn Market Cap Amidst Coinbase Listing.
After listing on Coinbase, Mogcoin (MOG), an Ethereum-based meme token, achieved a significant milestone by reaching a $1.5 billion market cap.
The token has experienced remarkable growth, with a 22.1% rise in the last 24 hours and a 66.5% monthly increase.
MOG has delivered a staggering 10,307.1% return over the past year. The Coinbase listing has boosted its accessibility and market participation, driving its recent price surge.
Analyst Davie Satoshi projects MOG could reach a $10 billion market cap, signaling further growth potential. MOG’s steady appreciation reflects strong fundamentals, institutional interest, and growing market recognition.
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