By Shikha Singh
Uniswap Sees Record Monthly Volume on L2 as DeFi Demand Flows Back.
Uniswap smashed its record for monthly volume across Ethereum Layer 2 as decentralized finance (DeFi) buffs flooded back into the ecosystem.
According to data from Dune Analytics, Uniswap generated a record $38 billion in volume across major Ethereum layer-2 networks, including Base, Arbitrum, Polygon, Optimism, and several others.
The November record surpassed its previous highest month, set in March, by $4 billion.
Metaplanet Stock Jumps 6.5% After Raising $62 mn for Bitcoin Acquisition.
Metaplanet stock surged 6.5% on Thursday after the company announced a $62 million fundraising initiative through the issuance of Moving Strike Stock Acquisition Rights.
Metaplanet will use the funds to buy more Bitcoin, advancing its strategy to increase its Bitcoin reserves.
This move follows the company’s recent purchase of 124 BTC, bringing its total holdings to over 1,100 BTC.
Since making Bitcoin a part of its treasury in May 2024, Metaplanet’s stock has gained 1,300%, significantly outperforming Bitcoin’s 36% gain over the same period.
Tether Shifts Focus to Hadron Amid $EURt Delisting.
Tether, the largest company in the digital asset industry, has announced it will delist its $EURt token in response to Europe’s new MiCAR (Markets in Crypto-Assets Regulation) laws.
MiCAR aims to regulate crypto assets to protect investors, ensure financial stability, and promote innovation.
Tether’s decision to delist $EURt stems from concerns over the current regulatory environment in Europe, which it deems too risk-averse.
In place of $EURt, Tether will focus on new assets like $EURQ and $USDQ through its Hadron platform, designed to simplify the tokenization of real-world assets.
Celsius Begins Second Distribution of $127 mn to Eligible Creditors.
Celsius Network is distributing $127 million to eligible creditors as part of its second payout under bankruptcy proceedings, following its collapse in July 2022.
This brings the total recovery rate to 60.4% of eligible claims, up from 57.65% in January 2024. The second payout mainly consists of liquid crypto assets, with funds converted to Bitcoin at an average price of $95,836.23 per BTC.
The distribution covers various creditor classes, including retail deposits, general earnings, and unsecured loan claims, and cash payments are being made to those who opted out of crypto payments or faced issues in the first round.
Vancouver Mayor Ken Sim Proposes Bitcoin As Reserve Asset.
Vancouver Mayor Ken Sim has proposed exploring Bitcoin as part of the city’s financial strategy to protect its purchasing power by diversifying its reserves.
On December 11, 2024, the Vancouver City Council will hear a motion with the title “Preserving the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city.”
This motion aims to evaluate the inclusion of Bitcoin in the city’s reserves, reflecting a broader trend where governments, such as those in the U.S., are considering Bitcoin as a reserve asset.
US Spot Ethereum ETFs Hit $10.8 bn in Total Net Assets.
As of November 27, Ethereum (ETH) reached a significant milestone with total net assets of $10.80 billion, representing 2.47% of its overall market cap. In the past week, ETH saw $133 million in net inflows, bringing cumulative inflows to $240.41 million. Daily net inflows were also notable at $90.10 million, indicating rising investor confidence.
Ethereum ETFs, especially spot ETFs, are gaining momentum, with major players like BlackRock, Grayscale, and Fidelity attracting substantial investments. Ethereum’s price recovery, with ETH trading at $3,609.19, up 15.19% over the past week, fuels this surge in interest. Analysts are now looking at the potential for ETH to surpass $4,000, signaling strong growth and bullish sentiment around the cryptocurrency.
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