Today's Crypto and Bitcoin News
24h FeedSolana’s price recently hit resistance at $245, as Bitcoin surged past $100,000 for the first time. Despite Solana's growth potential, profit-taking trends and declining staking deposits have raised concerns about its short-term trajectory. Could SOL still achieve the $450 year-end target analysts are forecasting? Let’s explore. Solana Price Action Amid Bitcoin’s Historic Rally SOL/USDT price chart | Source: KuCoin Bitcoin’s breakthrough above $100,000 was fueled by optimism over crypto-friendly changes in the U.S. SEC. This milestone triggered a rally across altcoins, including Solana. However, SOL’s price growth was limited compared to Bitcoin’s. Current Price: $240 (down 9% from an all-time high of $264 on Nov. 23). Resistance Levels: SOL faces significant resistance at $250, highlighted by the Chande Kroll Stop indicator. Support Levels: If SOL fails to hold above $230, it could retest the $224 support zone. On-Chain Trends: $500M Unstaked SOL Could Signal Headwinds Profit-taking is evident as 2.2 million SOL (valued at $500 million) was unstaked in the past week. This withdrawal reduces staking deposits, increasing SOL’s circulating supply and weakening buying pressure. Impact of Unstaking $500 Million Worth of SOL More Tokens in Circulation: The withdrawal of such a significant amount of SOL increases the token's availability in the market. With a higher circulating supply, the balance of demand and supply shifts, potentially capping price growth. Downward Pressure on Prices: The introduction of 2.2 million unstaked SOL into circulation creates an overhang in the market. If these tokens are sold, it could further amplify selling pressure, especially during a profit-taking phase. Read more: How to Stake Solana with Phantom Wallet Bullish Signals: Why Analysts See $450 by Year-End 1. Ecosystem Growth Solana’s low fees and scalability make it a preferred blockchain for developers. Key drivers: DeFi and NFTs: Platforms like Magic Eden and Raydium showcase its potential. The NFT space, in particular, has seen increased activity, with Solana often ranked among the top chains for NFT sales volume due to its speed and cost-efficiency. In November 2024, NFT sales volume surged to $562 million, of which Solana accounted for over $83 million, according to a report on Bitcoin News. Web3 and Gaming: Solana’s fast transaction times make it ideal for blockchain-based games, where instant interactions are crucial. Popular gaming platforms are integrating Solana to leverage its scalability for in-game economies. Institutional Interest: Institutional adoption is growing, with Solana being considered for tokenized assets, payment solutions, and blockchain-based gaming by major financial players. This lends credibility and attracts further investment to its ecosystem. Read more: How to Use the Raydium (RAY) Decentralized Exchange on Solana: A Beginner’s Guide 2. Phantom Wallet Integration with Transak Phantom's integration with Transak, launched in December, has boosted Solana’s network activity: 400% Growth: Seven weeks after the integration, SOL transactions via Transak surged by 400%, reflecting increased demand for Solana-based assets. This surge is attributed to the streamlined user experience and multi-payment options offered by Transak. Wider Adoption: Transak supports over 20 payment methods and processes up to $75,000 per transaction in select regions. With Phantom already serving users in 100+ countries, this partnership strengthens Solana’s market presence by providing a seamless bridge for fiat onboarding. 3. Analyst Optimism Other expert analysts predict $450 for SOL, citing: Solana can handle 65,000 transactions per second (TPS), a staggering figure compared to Ethereum’s 15–30 TPS. This scalability attracts developers looking for cost-effective solutions to build decentralized applications. The low cost of transactions—fractions of a cent—gives Solana a competitive edge, especially for high-frequency trading, gaming, and micropayment applications. In mid-November, Solana’s real economic value (REV) outpaced Ethereum’s by 111%, including transaction fees and maximal extractable value (MEV) for validators, according to a report on Cointelegraph. Institutional players are increasingly exploring Solana for tokenized assets, blockchain-based payments, and high-value gaming platforms. This endorsement from large-scale investors boosts confidence in Solana’s long-term growth potential. Solana’s integration into emerging Web3 applications, including social networks and decentralized autonomous organizations (DAOs), positions it as a leader in blockchain innovation. Bearish Risks: Challenges That Could Hinder Solana 1. Declining Buying Momentum The Bull Bear Power (BBP) indicator, which tracks the balance between buying and selling pressure, remains in negative territory for Solana. This signals that bearish sentiment is overshadowing bullish sentiment, dampening enthusiasm among traders and investors. Key Concern: Without a significant uptick in trading volume or a catalyst to reignite investor confidence, Solana may struggle to break through the $250 resistance level. Implications: A prolonged lack of buying pressure could make SOL more vulnerable to downward price movements, especially if broader market sentiment turns bearish. 2. Profit-Taking Trend Solana has seen a substantial amount of profit-taking activity following its recent all-time high of $264. On-chain data reveals that 2.2 million SOL, worth $500 million, was unstaked over the past week. Impact of Unstaking: Increased Circulating Supply: Unstaked SOL reenters the market, diluting demand and potentially suppressing prices. Weakened Network Confidence: Staking is a measure of investor commitment to a blockchain. A decline in staking deposits may signal reduced long-term confidence in Solana. This profit-taking trend is particularly concerning because it coincides with Bitcoin’s historic $100,000 milestone, which should have generated stronger altcoin momentum. 3. Solana Ecosystem Scandals Ecosystem reliability is a critical factor for blockchain success, and recent controversies have raised red flags for Solana. Two major incidents highlight potential risks: Pump.fun Controversies Pump.fun, a decentralized memecoin launchpad platform on Solana, has faced significant scrutiny despite its massive revenue growth and dominance in the Solana DEX market. Issues include: Manipulation and Exploitation: Traders and bots have exploited Pump.fun’s algorithms to manipulate token visibility and prices. Practices like “bump trades” and “rug pulls” undermine the platform’s credibility. Explicit Content Scandals: Pump.fun’s livestream feature was abused to broadcast disturbing content, leading to community backlash and feature removal. Reputation Risk for Solana: With Pump.fun accounting for over 62% of Solana’s DEX transactions, its controversies tarnish the blockchain’s image and may deter potential users and investors. @solana/web3.js Security Breach A recent backdoor incident involving the widely used @solana/web3.js npm package has raised serious security concerns: Scope of the Issue: The compromised package allowed attackers to steal private keys and drain funds from affected decentralized applications (dApps). Financial Impact: Early estimates suggest losses of $130,000, primarily affecting developers running backend bots with private key access. Reputational Damage: While non-custodial wallets were unaffected, the incident highlights vulnerabilities in Solana’s developer ecosystem, potentially discouraging future adoption. Solana Price Forecast: Key Levels to Watch Upside Potential: A close above $250 could signal a breakout to $270 or higher. Year-end target: Analysts remain optimistic about $450 if adoption accelerates. Downside Risks: Failure to hold $230 could see SOL retest $224. Continued staking outflows could limit near-term gains. Conclusion: Solana’s Path to $450 Solana’s ecosystem and adoption trends support its long-term growth, but short-term challenges like profit-taking and declining staking deposits are creating hurdles. While $450 remains achievable, breaking the $250 resistance is critical for sustained momentum. For now, cautious optimism prevails as investors watch whether Solana can capitalize on its strong fundamentals to overcome these headwinds. Read more: What Is a Solana ETF, and How Does It Work?
Bitcoin continues its remarkable ascent in 2024, crossing the historic $100,000 milestone and sparking predictions that it could surpass $150,000 by year-end. Major institutions and industry experts are bullish, with forecasts ranging from six-figure prices to projections of $1 million or more in the coming years. Here's an in-depth look at the latest Bitcoin price predictions and the key factors driving this bullish sentiment. Quick Take Bitcoin crossed $100,000 for the first time on Dec. 5, reaching an all-time high of $103,800. ARK Invest, led by Cathie Wood, predicts a minimum price of $124,000 by the end of 2024, driven by institutional adoption and strategic reserve considerations. Market sentiment indicates a 10% chance of Bitcoin hitting $150,000 by year-end. Decentralized prediction markets like Polymarket and Kalshi and technical analysts see $130,000 to $140,000 as achievable price targets in the coming months. Major Predictions for Bitcoin in 2024-25: How High Can BTC Price Go? BTC/USDT price chart | Source: KuCoin Analysts and prediction platforms see Bitcoin breaking past $150,000 as likely, with a potential surge to $250,000 in the coming weeks and months. Here are some major predictions for Bitcoin’s value before the end of the year and into 2025: 1. ARK Invest’s $124,000 Target ARK Invest, led by Cathie Wood, maintains a bullish outlook for Bitcoin. Their latest research indicates a minimum price of $124,000 by December 2024, based on historical performance and the current halving cycle. “Bitcoin’s increasing integration into institutional portfolios signals strong momentum into 2025,” ARK concluded. Key factors include: Growing institutional adoption, highlighted by Bitcoin ETFs and corporate investments. Potential consideration by the U.S. government to include Bitcoin in its strategic reserves. 2. Traders Eye $130,000–$140,000 Range Popular crypto analysts are optimistic about Bitcoin's next move. Jelle, a well-known cryptocurrency trader, anticipates a bullish pennant breakout that could propel Bitcoin's price to approximately $130,000. This projection is based on technical analysis of current market patterns, suggesting a continuation of the upward trend. Aksel Kibar, a Chartered Market Technician, identifies $137,000 as the next significant resistance level for Bitcoin. He considers the $100,000 mark to be more of a psychological barrier than a technical one, implying that surpassing it could lead to further gains. These predictions align with technical indicators that signal Bitcoin’s continued upward trajectory. Fibonacci Extensions: $154,250 Technical analysts point to historical Fibonacci levels to forecast Bitcoin's next move. Bitcoin recently broke the 1.618 Fibonacci extension at $101,562, setting the 2.618 level at $154,250 as the next milestone. 3. Analyst Predictions for BTC Price Ki Young Ju, CEO of CryptoQuant, predicts Bitcoin could rise to $146,000 by leveraging fresh capital inflows and growth in Bitcoin’s realized cap. Ju noted that Bitcoin’s realized cap growth pushed the ceiling price from $129,000 to $146,000 in just 30 days. Tom Lee, at Fundstrat, predicts Bitcoin will hit $150,000 in 2024 and $250,000 by 2025, citing the halving cycle’s “sweet spot.” Lee emphasizes the compounding impact of supply reductions and strong market momentum, which historically drive post-halving price surges. Bernstein: $200,000 by Late 2025 Bernstein analysts forecast Bitcoin reaching $200,000 by 2025, attributing their bullish outlook to: Institutional adoption, with companies like BlackRock and MicroStrategy leading the charge. Pro-crypto regulatory shifts, including Paul Atkins’ appointment as SEC chair under President Trump. 4. Prediction Markets Target $128,000–$150,000 Kalshi’s prediction for Bitcoin price | Source: Kalshi Data from Kalshi, a leading prediction platform, shows that consensus estimates place Bitcoin’s year-end price at $128,000. A notable 10% of participants predict BTC could exceed $150,000 by the end of 2024. Over the past month, sentiment has grown increasingly bullish, with projected prices rising by $50,000. 5. Hal Finney’s Long-Term Vision of BTC at $10M Bitcoin pioneer Hal Finney’s legendary prediction of $10 million per BTC remains a distant dream but has regained attention. Current market momentum and institutional support echo Finney’s early vision of Bitcoin as a global store of value. 6. PlanB’s $1 Million Bitcoin Price Prediction PlanB’s BTC price forecast based on Bitcoin Stock-to-Flow (S2F) | Source: BitBo PlanB, the creator of the Bitcoin Stock-to-Flow (S2F) model, forecasts Bitcoin hitting $100,000 by the end of 2024 and reaching $500,000 to $1 million by 2025. The S2F model compares Bitcoin’s scarcity to assets like gold, emphasizing its deflationary nature and limited supply. PlanB’s model anticipates that as adoption grows and supply shrinks, Bitcoin will reach valuation levels comparable to global reserve assets like gold. Read more: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025 Key Factors Driving Bitcoin’s Bull Run in 2024-25 1. Rising Institutional Adoption Powered By Bitcoin ETFs Bitcoin ETFs, approved by the SEC in early 2024, have attracted over $30 billion in inflows. BlackRock and Fidelity lead the charge, collectively holding 6% of Bitcoin’s market supply. BlackRock’s IBIT ETF alone saw $31.74 billion in inflows, boosting confidence among retail and institutional investors. 2. Regulatory Support From Trump’s Pro-Crypto Outlook The pro-crypto stance of President-elect Donald Trump is another catalyst. Key initiatives include: Plans for a U.S. national Bitcoin reserve. Shifting crypto regulation to the Commodity Futures Trading Commission (CFTC). This shift has created a favorable regulatory environment, encouraging further adoption. 3. 2024 Bitcoin Halving The April 2024 Bitcoin halving reduced mining rewards from 6.25 BTC to 3.125 BTC, tightening supply. Historically, halvings have preceded significant price surges, and this cycle appears no different. Read more: The History of Bitcoin Bull Runs and Crypto Market Cycles Challenges Ahead Despite the bullish momentum, Bitcoin faces potential hurdles: Market Volatility: Bitcoin is known for its significant price swings, which can lead to sharp corrections even during bullish cycles. In 2021, Bitcoin experienced a sharp drop from $64,000 to below $30,000 within weeks due to profit-taking and fears of overvaluation.With Bitcoin’s rapid rise past $100,000, any speculative excess could trigger short-term sell-offs as traders lock in profits. Regulatory Risks: While regulatory clarity has driven much of Bitcoin’s 2024 rally, any reversal or delay in pro-crypto policies could dampen sentiment. A shift in focus away from crypto-friendly initiatives by President-elect Donald Trump’s administration could create uncertainty. Delays in approving additional Bitcoin ETFs or sudden enforcement actions against major crypto firms could negatively impact Bitcoin and the overall crypto market’s performance. Macroeconomic Factors: Bitcoin’s appeal as a hedge against inflation and fiat devaluation could be tested by macroeconomic uncertainties. The Federal Reserve’s recent rate cuts have been favorable for risk assets, but unexpected rate hikes to combat inflation could pressure Bitcoin. Ongoing conflicts or economic sanctions can lead to sudden shifts in investor behavior, favoring traditional safe havens like gold over Bitcoin. A global economic slowdown could reduce liquidity, forcing investors to pull out of speculative assets, including Bitcoin. Potential Black Swan Events: Unforeseen catastrophic events have previously disrupted the crypto market, and similar occurrences could pose risks in the future. For instance, the Terra (LUNA) crash in 2022 wiped out over $40 billion in value, triggering widespread liquidations across the crypto ecosystem. The FTX collapse, one of the largest crypto exchanges, caused a liquidity crisis and led to significant market-wide losses. Concerns over the stability of major crypto platforms, including custodial wallets and exchanges, could resurface. Hacks, security breaches, or mismanagement of large institutional Bitcoin holdings could erode investor trust. Sudden regulatory bans or unfavorable rulings in major economies, such as the U.S. or the EU, could spark panic selling. What’s Next for Bitcoin? Bitcoin’s price trajectory in 2024 is shaped by strong institutional adoption, favorable regulatory changes, and its post-halving supply dynamics. Analysts agree that six-figure prices are here to stay, with predictions pointing to $124,000–$250,000 by 2025. Bitcoin’s path to $150,000 is paved with optimism, but challenges remain. Analysts believe the combination of institutional adoption, regulatory clarity, and macroeconomic conditions will shape its trajectory. Whether Bitcoin ends 2024 at $124,000, $150,000, or beyond, one thing is clear: the crypto market’s flagship asset is poised for continued growth, making it a focal point for investors worldwide. Stay tuned to KuCoin News for the latest updates on Bitcoin and the broader crypto market!
On December 5, Bitcoin went through a roller coaster plunge, shedding nearly $303 million in long positions within minutes as its price briefly dropped below $93,000, only to stage a swift rebound, according to Cointelegraph. Bitcoin is currently priced at $96,927 with a 1.17% decrease in the past 24 hours, while Ethereum trades at $3,785, down -1.39% over the same period. The futures market remains balanced, with a 50% long and 50% short position ratio. The Fear and Greed Index, a key measure of market sentiment, decreased from 84 (Extreme Greed) yesterday to 72 (Greed) today. President-elect Donald Trump’s nomination of pro-crypto advocate David Sacks to lead the U.S. government’s department of AI and Crypto signaling a potential shift toward more favorable regulations. Bitcoin crossed $100,000 for the first time on December 4, 2024 and MicroStrategy earned $16.8 billion in unrealized profits due to its bold Bitcoin investment strategy. Simultaneously Base recorded 8.8 million daily transactions and reached $3.6 billion in Total Value Locked (TVL). This article explores these milestones in detail. What’s Trending in the Crypto Community? Donald Trump posted a message on Truth Social celebrating Bitcoin breaking $100,000, quoting“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!”. The total market value (TVL) of stablecoins surpassed $200 billion, hitting a record high. MicroStrategy earned $16.8 billion in unrealized profits amid BTC breaking all time highs and crossing $100,000. Crypto Fear & Greed Index | Source: Alternative.me Trending Tokens of the Day Top 24-Hour Performers Trading Pair 24H Change SUI/USDT + 18.93% XRP/USDT + 0.67% WLD/USDT + 24.60% Trade now on KuCoin Read More: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025 BTC’s Sudden 5% Price Drop and Recovery Caused $303M Longs to Liquidate Source: TradingView Bitcoin’s price dropped 5.47% on December 5, 2024 falling from $98,338 to $92,957 in just five minutes between 10:23 am UTC and 10:28 am UTC. The drop wiped out $303.48 million in long positions within one hour contributing to $404 million liquidated in total over 24 hours. During the decline Bitcoin’s market capitalization fell by $200 billion briefly dropping below $1.92 trillion. Bitcoin rebounded to $96,410 shortly after stabilizing but stayed below its earlier peak of $98,338 and far from its all-time high of $104,000 reached one day earlier. Trading volumes surged to $21 billion during this period reflecting the market's heightened activity. The sharp correction underscored Bitcoin’s volatility but its recovery within minutes highlighted the asset's enduring resilience. MicroStrategy Gains $16.8 Billion Profit from Bitcoin’s Surge to $100K Source: KuCoin December 4th BTC/USDT Chart 24Hrs Bitcoin reached $100,000 yesterday driving a $16.8 billion unrealized profit for MicroStrategy. The company holds 402,100 Bitcoin purchased at an average price of $58,263 per coin. Its total acquisition cost was $23.4 billion. The current market value of its holdings has surged to $40.2 billion. MicroStrategy financed these acquisitions using tens of billions in convertible stock offerings and corporate debt. Shareholders saw a 38.7% yield in November based on a method that divides Bitcoin holdings by total shares. This excludes obligations like debt conversion thresholds. Michael Saylor, CEO of MicroStrategy now has a personal fortune of $9.2 billion. MicroStrategy’s market cap stands at $86 billion, more than double the $38.2 billion value of its Bitcoin. The stock price rose 480 % in 2024. Between November 18 and 24 the company purchased $5.4 billion worth of Bitcoin at $97862 per coin. Between November 25 and December 1 it bought 15400 Bitcoin for $1.5 billion. Source: MSTR Tracker MicroStrategy plans to raise $42 billion to acquire more Bitcoin. It seeks inclusion in the NASDAQ 100 index with a decision on December 13 and official listing on December 20 if approved. Base Reaches All Time High at 8.8 Million Daily Transactions and $3.6 Billion TVL Source: GrowThePie | The Block Base recorded 8.8 million daily transactions surpassing Arbitrum at 2.5 million and Optimism at 900,000. This positions Base as the leader in optimistic rollup networks. Base’s Total Value Locked reached $3.6 billion supported by $227 million in net inflows over seven days ending November 28. Solana reported $71 million in net inflows during the same period. Network fees on Base hit $766000 on November 28 the highest in three months. The Virtuals platform drives this activity. Virtuals enables users to create co-own and monetize AI agents across gaming entertainment and social media. AIXBT and LUNA are leading projects within this ecosystem. Freysa AI attracted attention with its unique challenge. Freysa was programmed to resist monetary extraction but a user bypassed this and withdrew $47000 worth of cryptocurrency. The event drew 195 participants and 482 attempts. Query fees were incrementally introduced during the challenge creating a revenue model for AI-crypto interactions. Donald Trump Appoints David Sacks to Lead AI and Crypto in the US David Sacks, former CEO of Yammer, speaks during Day 1 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 15, 2024. Source: REUTERS President-elect Donald Trump appointed David Sacks to oversee artificial intelligence and cryptocurrency policy. Sacks founder of Yammer and former PayPal COO will serve as the AI and Crypto Czar. “In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” said Trump’s announcement on Truth Social. Sacks will lead efforts to develop a regulatory framework for the cryptocurrency industry. He will also chair the Presidential Council of Advisors for Science and Technology. Trump highlighted the importance of AI and cryptocurrency for U.S. competitiveness. The pro-crypto stance of Trump’s administration includes key appointments. Former SEC Commissioner Paul Atkins will assume leadership in January signaling a shift in regulatory direction. Conclusion Bitcoin’s climb to $100,000 MicroStrategy’s $16.8 billion profit Base’s 8.8 million transactions and Trump’s focus on AI and crypto show the rapid evolution of digital assets. These developments highlight the power of strategic investments and the potential of blockchain and AI integration. MicroStrategy’s bold moves illustrate how cryptocurrency can generate massive profits. Base’s innovative network activity demonstrates Layer 2 scalability. Trump’s appointments suggest a pro-crypto regulatory shift. These trends will continue shaping the future of finance and technology.
Bitcoin has shattered the $100,000 milestone, setting a new all-time high of $104,000 on Coinmarketcap and catapulting the cryptocurrency into uncharted territory. This moment marks a significant psychological breakthrough for traders and a vindication for long-time holders. Fueled by a confluence of political, institutional, and economic factors, the Bitcoin rally has not only captured the attention of the crypto world but also ignited conversations in mainstream finance. Here's a closer look at what’s propelling Bitcoin’s historic ascent and where it might head next. Quick Take Bitcoin hits $100K, its first-ever six-digit valuation, with prices peaking at $104,000. Bitcoin gains momentum after the election of President-elect Donald Trump, who appointed pro-crypto leaders to key positions. The launch of U.S.-based spot Bitcoin ETFs in early 2024, followed by the launch of spot Bitcoin ETF options in November, brought institutional capital into crypto markets. April’s Bitcoin halving reduced mining rewards, tightening supply amidst growing demand. Inflation, fiat devaluation, and renewed liquidity from the Fed favor Bitcoin as a hedge asset. Bitcoin Dominance Reclaims 57% as BTC Hits $104K ATH Bitcoin dominance | Source: Coinmarketcap Bitcoin’s dominance in the crypto market has surged back to 57%, reclaiming its position as the leading force in the cryptocurrency ecosystem. This metric, which measures Bitcoin’s share of the total market capitalization, had dropped to 54.7% on Dec. 4 as altcoins like BNB, TRX, and XRP rallied to new highs. However, Bitcoin’s explosive rise above $100,000 reversed the trend, bringing the focus squarely back to BTC. The shift reflects Bitcoin’s unmatched influence in the market, with analysts suggesting its record-breaking rally served as a reminder of its supremacy. “Almost like BTC was jealous that altcoins were getting all the attention and wanted to remind everyone it’s still king,” noted analyst Income Sharks. Market sentiment echoed this resurgence, with the Bitcoin Fear & Greed Index remaining at an “extreme greed” level of 84, signaling robust investor enthusiasm for the cryptocurrency. This renewed dominance has momentarily quieted calls for an altseason, as traders consolidate around Bitcoin during its historic price discovery. While altcoins maintain strong performance overall, Bitcoin’s ability to draw market attention underscores its pivotal role as the foundation of the crypto ecosystem. The Bitcoin-Trump Effect The 2024 U.S. presidential election was pivotal for crypto markets. President-elect Donald Trump’s victory and his pro-crypto stance galvanized investor sentiment. Trump’s administration promises a crypto-friendly regulatory landscape, starting with his appointment of Paul Atkins as SEC Chair. Atkins, known for his advocacy of digital assets, replaces the outgoing Gary Gensler, whose tenure was marked by harsh regulatory actions against the crypto industry. This leadership shift is expected to usher in a new era of regulatory clarity and innovation. Further fueling optimism, Trump’s nomination of Scott Bessent as Treasury Secretary and Howard Lutnick as Commerce Secretary underscores the administration’s commitment to integrating crypto into the broader economy. Read more: BTC Surges Above $100,000, Trump Appoints Pro-Crypto SEC Chair Paul Atkins, Powell Compares BTC to Gold, and More: Dec 5 Bitcoin Surges as Fed Chair Powell Calls It 'Digital Gold' in CNBC Interview Federal Reserve Chair Jerome Powell, during a CNBC interview on December 4, 2024, remarked that Bitcoin is “like gold, only it’s virtual, it’s digital,” highlighting its role as a competitor to gold rather than the U.S. dollar. The interview, held in Washington, D.C., has reignited interest in Bitcoin as a digital store of value, reinforcing its narrative as "digital gold." Powell’s acknowledgment has resonated with investors, positioning Bitcoin as a modern alternative to traditional safe-haven assets, driving its price upward in the market today. how about this Institutional Adoption Drives the Rally Spot Bitcoin ETF flows over the past month | Source: TheBlock The approval of spot Bitcoin ETFs by the SEC earlier in 2024 unlocked a tidal wave of institutional interest. Asset management giants like BlackRock and Fidelity launched ETFs that collectively attracted over $30 billion in assets within months. These ETFs provide regulated, straightforward access to Bitcoin, appealing to institutional investors who previously hesitated due to compliance concerns. BlackRock CEO Larry Fink’s endorsement of Bitcoin as a “legitimate financial instrument” further cemented its status as a mainstream asset. Additionally, corporate adoption has surged. MicroStrategy, with its record-breaking 386,700 BTC holdings now worth over $38 billion, has inspired other firms to follow suit. Recent adopters include Canadian wellness firm Jiva Technologies and AI education company Genius Group, which announced Bitcoin reserves in their corporate strategies. The Role of the Bitcoin Halving in 2024 April 2024 marked Bitcoin’s latest halving event, reducing mining rewards to 3.125 BTC per block. This built-in scarcity mechanism often precedes significant price rallies, as seen in previous cycles. While debates persist over whether halving alone drives Bitcoin’s price, it undeniably creates bullish sentiment. Traders and institutions alike see the event as a supply squeeze, amplifying demand and setting the stage for Bitcoin’s meteoric rise. Other Macroeconomic Factors at Play Bitcoin’s appeal as a hedge asset has grown amidst global economic instability. With inflation eroding the purchasing power of fiat currencies and central banks loosening monetary policies, Bitcoin’s capped supply and digital nature present an attractive alternative. The Federal Reserve’s pivot to rate cuts has further buoyed Bitcoin prices, as investors seek refuge from volatile traditional markets. Bitcoin’s narrative as "digital gold" continues to resonate, solidifying its status as a store of value in uncertain times. Could Bitcoin Price Hit a High of $200,000 Soon? Bitcoin’s rise to $100,000 has set the stage for even loftier predictions. Analysts like Geoff Kendrick of Standard Chartered forecast Bitcoin could hit $200,000 by the end of 2025, driven by institutional adoption and a crypto-friendly U.S. government. While price discovery is inherently unpredictable, Bitcoin’s fundamentals remain strong. The cryptocurrency’s integration into mainstream finance, combined with favorable regulatory and macroeconomic conditions, suggests that its best days may still lie ahead. For now, Bitcoin’s new milestone underscores its evolution from a speculative asset to a global financial powerhouse. Whether it’s the “digital gold” narrative, halving cycles, or institutional interest, Bitcoin continues to redefine the future of money. Read more: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025 Closing Thoughts Bitcoin’s historic $100,000 milestone is more than just a number—it represents the culmination of years of technological innovation, regulatory battles, and increasing adoption. With its market capitalization crossing $2 trillion, Bitcoin has firmly established itself as one of the world’s most valuable assets. As the cryptocurrency enters its next phase of growth, the question isn’t whether Bitcoin will continue to rise but how high it will go. Investors, traders, and institutions are watching closely as Bitcoin charts its course into the future. Read more: Bitcoin Hits New All-Time High Above $100,000 and the Bull Run Ahead: New Digital Gold?
Bitcoin reached a fresh all-time high of $103,656 on December 4th, 2024. The price is up 8.025% in the last 24 hours with a gain of $7,700. The market capitalization for Bitcoin now stands at $1.93 trillion, accounting for 49.5% of the total cryptocurrency market. The trading volume in the last 24 hours topped $48.3 billion on the back of a frenzy of institutional and retail interest. This puts the cryptocurrency up 19.4% over the last month and 67% since the beginning of 2024. Institutional Inflows of $9.2 Billion Drive Bitcoin's Surge Source: KuCoin This month institutional investors have piled in $9.2 billion into Bitcoin. Strong interest has also developed for spot Bitcoin ETFs: ProShares Bitcoin Strategy ETF brought in inflows of $2.1 billion since November. Some analysts are estimating that Bitcoin could surge as high as $125,000 to $130,000 by the end of 2024 as demand for regulated Bitcoin investment vehicles continues to soar. In November, Grayscale added 12,400 BTC and brought the total count in Bitcoin Trust to 711,000 BTC-worth $73.5 billion. Fidelity Digital Assets reported a 22% surge in institutional client activity over the past month. These investments are a sign that big financial players are increasingly confident of Bitcoin as an emerging long-term asset class. Currently, the business intelligence firm holds more than 158,245 BTC, equivalent to $16.4 billion, after adding 3,200 BTC in this quarter. Overall, publicly traded companies collectively hold more than 294,000 BTC, or $30.4 billion - a sign of corporate adoption toward Bitcoin. Read More: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025 Policy Changes Fuel Market Optimism The already rallying Bitcoin has been given increased momentum by the pro-crypto stance of President-elect Donald Trump himself. Trump's nomination to the position of SEC Chair indicates a possible shift toward good regulations for the cryptocurrency because Atkins is known for his balanced, transparent policies. Atkins served at the SEC from 2002 to 2008 as commissioner. “Paul is the CEO and Founder of Patomak Global Partners, a risk management consultancy,” Trump said. “As Co-Chairman of the Digital Chamber’s Token Alliance since 2017, he has worked on and studied the digital assets industry.” Trump stated. This comes after years of aggressive enforcement under Gary Gensler's helm. Between 2021 and 2023, the SEC filed 104 lawsuits against crypto firms, making the industry cough up about $426 million in legal fees. According to analysts, the clearer guidelines under Atkins's chair will significantly reduce the regulatory barriers to adoption that have held Bitcoin back. Confidence has also been boosted by the green-lighting of multiple spot Bitcoin ETF applications by the SEC. Such ETFs offer institutional investors regulated paths to exposure to Bitcoin and have heated up demand. According to analysts, spot ETFs could bring in an additional $17 billion of institutional inflows in mid-2025. Powell Describes Bitcoin as the New Digital Gold, Not a Competitor to the Dollar Source: X Federal Reserve Chair Jerome Powell described Bitcoin as "like gold only virtual and digital" in a speech at The New York Times DealBook Summit. Powell underlined that it is a speculative asset, and despite high volatility, it looks to be here to stay. The price of Bitcoin sat close to $103,000 during his comments, a nod to the growing perception of the digital asset as a hedge against inflation and economic uncertainty. The increasing role of Bitcoin as a store of value makes it comparable to gold. A circulating supply of 19.5 million BTC makes Bitcoin a scarcity and a deflationary model, hence interesting for investors looking for alternatives. Market capitalization of gold is $13 trillion, while the current market capitalization of Bitcoin is $1.93 trillion, underlining its potential to grow as digital gold. Global Bitcoin Adoption Soars to 420m Users Adoption has increased from 300 million users in 2022 to more than 420 million users globally in 2024. In November, El Salvador added $120 million worth of Bitcoin to its national reserves, increasing its holdings to 4,400 BTC as part of the country's plan to introduce Bitcoin into its economy as legal tender. Germany has 12,900 active Bitcoin nodes, up 14% this year. Its node count is second only to the United States, housing 36,200. These figures reflect the decentralization of Bitcoin and the security of its global network. The United Arab Emirates is introducing blockchain technology into its trade finance system, projected to process $500 billion worth of transactions by 2025. This will reflect Bitcoin's potential usage in global trade and commerce. Source: Triple-A Source: Triple-A Among Asian markets, one of the most active markets, retail traders from South Korea contributed $4.2 billion in Bitcoin trading volume last month. Recently, Japan reformed its regulatory framework by allowing banks to store Bitcoins with plans for an implementation as early as 2025. Source: Triple-A According to Triple-A, with a compound annual rate (CAGR) of 99% the growth in ownership of cryptocurrencies far exceeds the growth rate of traditional payment methods, which average at 8% from 2018 to 2023. In fact. Within the same period, the growth rate for cryptocurrency ownership surpasses that of several payment giants such as American Express. Bitcoin Outlook for December 2024 and Beyond The price action of Bitcoin doesn't slow down. According to analysts, Bitcoin’s price prediction is $125,000 dollars by the end of 2024 and will climb with a market capitalization of over $2.3 trillion. Come 2025, its global adoption will surge past 500 million users due to interests shown by institutions, regulatory clarity, and technological advancement. Miners pocketed $1.9 billion in revenue last month, with hash rates reaching 480 EH/s, up 32% YoY. Such growth cements the security and resilience of the network while Bitcoin continues to scale globally. Kalshi, the prediction platform’s data highlights increasing confidence in Bitcoin’s long-term potential. While the chances of reaching $150,000 by the end of 2024 remain moderate, Bitcoin’s record-breaking performance in 2023 shows its capacity to achieve new milestones. With rising adoption and strong institutional inflows, Bitcoin appears poised to close 2024 at historic levels, cementing its role as a key player in the global financial system. Source: Kalshi Conclusion Bitcoin's rise to $103,656 is a momentous event for the digital currency markets underpinned by $9.2 billion of institutional inflows, spot ETF approvals, and organic global adoption. At $1.93 trillion stretched out to $125,000, Bitcoin is set in place as a digital asset of global importance. It has not only become a store of value but has also become a means to connect traditional finance with blockchain technology. This is a representation of Bitcoin's transition from a speculative investment to one of the founding blocks of the future economy.
Bitcoin is currently priced at $102,402.32 with a 6.23% increase in the past 24 hours, while Ethereum trades at $3,861.17, up 5.75% over the same period. The futures market remains balanced, with a 50% long and 50% short position ratio. The Fear and Greed Index, a key measure of market sentiment, climbed from 78 (Extreme Greed) yesterday to 84 (Extreme Greed) today. President-elect Donald Trump’s nomination of pro-crypto advocate Paul Atkins to replace Gary Gensler as SEC Chair signals a potential shift toward more favorable regulations. Bitcoin, often compared to digital gold, has approached $102,402.32, buoyed by growing institutional interest and evolving perceptions of its role in the financial ecosystem. Meanwhile, Ripple’s XRP has surged past a $150 billion market cap, rivaling top U.S. companies, and Grayscale has joined the race to launch the first spot Solana ETF. This period of transformation highlights the intersection of regulation, innovation, and market dynamics in shaping the future of digital assets. What’s Trending in the Crypto Community? Jerome Powell says Bitcoin is a strong competitor to gold at The New York Times' DealBook Summit on Dec.4. Circle announced it is the first stablecoin issuer to meet Canada's new listing rules. Bitcoin mining company Hut 8 announced a $500 million and a $250 million stock buyback plan in order to buy more Bitcoin. Crypto Fear & Greed Index | Source: Alternative.me Trending Tokens of the Day Top 24-Hour Performers Trading Pair 24H Change CRV/USDT + 20.47% XRP/USDT - 6.96% SAND/USDT + 14.92% Trade now on KuCoin Read More: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025 BTC Hits All Time High of 102.4K Bitcoin hit an all-time high today surpassing $102,402.32 for the first time. The price surged to $102,402.32 during early trading hours with a 6.4 percent increase in the past 24 hours. Institutional investment has grown by over $8 billion this quarter fueling demand. Analysts point to recent pro-crypto policy shifts including Paul Atkins' nomination as SEC Chair and a projected 18 percent increase in adoption rates by 2025. Bitcoin now commands a market capitalization of over $1.95 trillion solidifying its dominance as the largest cryptocurrency. BTC Price Chart | Source: KuCoin Trump Appoints Pro-Crypto Paul Atkins as New SEC Chair President-elect Donald Trump has nominated Paul Atkins to lead the SEC, fulfilling his campaign promise to crypto voters. Trump praised Atkins as a "proven leader for common sense regulations" due to his tenure as an SEC commissioner from 2002 to 2008 and his role as Co-Chairman of the Digital Chamber's Token Alliance since 2017. “Paul is the CEO and Founder of Patomak Global Partners, a risk management consultancy,” Trump said. “As Co-Chairman of the Digital Chamber’s Token Alliance since 2017, he has worked on and studied the digital assets industry.” Atkins' appointment follows Gary Gensler’s resignation on Nov. 21 after years of legal battles with crypto firms. The SEC initiated 104 lawsuits against the industry between 2021 and 2023, costing companies $426 million in legal fees. Analysts expect the SEC's focus on enforcement to ease under Atkins, potentially opening the door for clearer regulations and renewed growth. Legal battles cost the industry $426 million in legal fees and created uncertainty in the market. Analysts predict a softer stance on enforcement under Atkins, allowing firms to focus on innovation and growth. Pantera’s chief legal officer, Katrina Paglia, said new leadership could ease regulatory pressure. "The lawsuits targeting cryptocurrency firms and blockchain projects will likely diminish," she explained. Atkins’ leadership could mark the beginning of clearer, more supportive regulation for digital assets. Powell Says BTC is a Strong Competitor to Gold or Something More? Source: X U.S. Federal Reserve Chair Jerome Powell recently drew parallels between Bitcoin and gold, emphasizing its role as a speculative asset rather than a competitor to the dollar. “People use Bitcoin as a speculative asset, right? It’s like gold,” Powell said at The New York Times' DealBook Summit. “It’s just like gold, only it’s virtual, it’s digital.” Bitcoin’s volatility remains a concern, but its price has approached $100,000, with current trading levels around $97,400. This growth follows President-elect Trump’s pro-crypto stance and institutional interest in digital assets. Powell acknowledged Bitcoin’s "staying power," but the Federal Reserve continues to monitor its interaction with traditional banking systems to ensure financial stability. Ripple’s XRP Surges Past Traditional S&P500 Markets Source: KuCoin XRP has experienced a meteoric rise, with its market cap soaring to $150 billion, surpassing companies like Pfizer ($144 billion) and Citigroup ($136 billion). Ripple’s asset now ranks as the third-largest cryptocurrency, trailing only Bitcoin and Ethereum. XRP surged by 409% after the November elections, reaching a high of $2.82 before settling at $2.61. Market analysts attribute this growth to increasing institutional interest and optimism about a more crypto-friendly regulatory environment. If classified as a company, XRP would rank as the 68th largest in the S&P 500, outshining 86% of the index, including notable firms like Lockheed Martin ($122.5 billion). This positioning underscores the growing acceptance of digital assets as viable investments within traditional financial frameworks. Grayscale’s Bid for a Spot Solana ETF Grayscale Investments filed with the SEC on Dec. 3 to convert its existing Grayscale Solana Trust (GSOL) into a spot Solana ETF. The trust, holding $134.2 million in assets, represents approximately 0.1% of all Solana in circulation. Grayscale joins competitors like 21Shares, VanEck, and Bitwise in seeking SEC approval for a spot Solana ETF. The move reflects a broader push to integrate cryptocurrencies into mainstream financial products, potentially unlocking new levels of institutional participation. Extract from Grayscale’s 19b-4 filing to list a spot Solana ETF. Source: NYSE Read More: GBTC vs. Bitcoin: Which One Should You Invest In? The Ripple Effect: Market Optimism Post-Gensler Gary Gensler’s departure and the anticipated leadership of Paul Atkins have sparked optimism across the crypto industry. Filings for a Solana ETF surged immediately after Gensler’s resignation, and analysts predict continued altcoin rallies into 2025. Pantera’s chief legal officer, Katrina Paglia, suggested that the SEC’s aggressive stance on crypto firms will likely diminish under new leadership. “The lawsuits targeting cryptocurrency firms and blockchain projects could quietly go away,” she said. Conclusion The crypto industry stands at a pivotal moment. Leadership changes, regulatory shifts, and market innovations signal a new era for digital assets. From Bitcoin nearing $100,000 to XRP rivaling top U.S. companies, the market reflects growing maturity and integration into traditional financial systems. Grayscale’s pursuit of a spot Solana ETF and Paul Atkins’ nomination as SEC Chair underscore the momentum building behind crypto. As these developments unfold, they are likely set for reshaping the regulatory landscape and solidifying digital assets’ place in the global economy.
On December 2, 2024, South Korea's cryptocurrency market experienced unprecedented activity, with retail trading volumes surpassing traditional stock markets by 22%, as reported by 10x Research. The day's trading volume reached approximately $34 billion on Dec.4, marking the second-highest daily total of the year. This surge was precipitated by a brief declaration of martial law by President Yoon Suk Yeol, citing national security concerns. The announcement led to immediate market volatility, with Bitcoin (BTC) and Ethereum (ETH) prices plummeting by up to 30% on local exchanges before swiftly rebounding after the martial law was lifted hours later. Traders capitalized on these rapid price fluctuations, significantly increasing trading volumes, particularly in altcoins like XRP and Tron. Trending Cryptocurrencies in the South Korea in the Last 24 Hours Upbit is the top leading regulated exchange in the local market. The trending cryptocurrencies are identified based on CoinMarketCap and Upbit’s real-time trading data focusing on 24-hour volume, price surges, and market sentiment. These metrics highlight the most actively traded and high-performing assets in South Korea’s dynamic crypto market. Here are the top trending cryptocurrencies in the South Korean Market Bitcoin (BTC) BTC Price Chart | Source: KuCoin Bitcoin faced significant volatility in South Korea following the martial law announcement, dipping sharply to $95,692 on the global exchanges. However, it quickly rebounded 2.4%, climbing above $96,000 after the policy was reversed. On Upbit, Bitcoin remains a cornerstone of the market, with over $1.7 billion in 24-hour trading volume, accounting for 6.51% of the exchange's total activity. This highlights Bitcoin’s dominance as both a store of value and a key trading asset during periods of uncertainty. Tron (TRX) TRX Price Chart | Source: KuCoin Tron was the standout performer of the day, experiencing a remarkable 80% surge within 24 hours to trade at $0.40. The strong performance reflects growing speculative interest in South Korea’s retail market, where Tron is increasingly favored for its role in decentralized finance. On Upbit, TRX recorded $1.2 billion in trading volume, representing 4.61% of total market activity. XRP (XRP) XRP Price Chart | Source: KuCoin XRP continues to dominate trading activity in South Korea, fueled by optimism around liquidity enhancements and blockchain upgrades. The token has surged an extraordinary 200% over the past month, currently trading at $2.84. XRP’s trading volume on Upbit exceeded $6.3 billion, accounting for a staggering 26.93% of the Upbit platform’s total activity, solidifying its status as the most traded cryptocurrency in the market. Cardano (ADA) XRP Price Chart | Source: KuCoin XRP continues to dominate trading activity in South Korea, fueled by optimism around liquidity enhancements and blockchain upgrades. The token has surged an extraordinary 200% over the past month, currently trading at $2.84. XRP’s trading volume on Upbit exceeded $6.3 billion, accounting for a staggering 26.93% of the Upbit platform’s total activity, solidifying its status as the most traded cryptocurrency in the market. Cardano (ADA) ADA Price Chart | Source: KuCoin Cardano’s robust ecosystem development and scalability improvements have driven its popularity among South Korean traders. Over the past 30 days, ADA has posted an impressive 275% gain, reaching $1.20. On Upbit, ADA recorded $362.7 million in 24-hour trading volume, contributing 1.39% of the exchange’s activity, a testament to its growing appeal in the region. Ethereum (ETH) ETH Price Chart | Source: KuCoin Ethereum remains a pillar of the cryptocurrency market, recovering from a low of $3,643.90 with a 3.3% gain to stabilize above $3,600. On Upbit, ETH maintained steady trading activity, generating $830.6 million in volume and demonstrating its continued relevance among South Korean traders, particularly for its critical role in decentralized finance and NFT ecosystems. Dogecoin (DOGE) DOGE Price Chart | Source: KuCoin Dogecoin remains a favorite memecoin in South Korea, where retail traders continue to embrace its speculative nature and meme-driven appeal. The token recorded an impressive $1.6 billion in trading volume on Upbit, reflecting its enduring popularity. At a price of $0.42, DOGE has proven its ability to sustain strong market interest even during periods of heightened volatility. Stellar (XLM) XLM Price Chart | Source: KuCoin Stellar is gaining traction in South Korea, thanks to its focus on cross-border payment solutions. Trading at $0.51, Stellar saw significant activity on Upbit, with $586.3 million in 24-hour trading volume, accounting for 2.24% of the platform’s overall activity. This underscores the token’s appeal to traders seeking utility-focused assets. Hedera (HBAR) HBAR Price Chart | Source: KuCoin Hedera has seen rapid growth this week, surging 168% to trade at $0.32. Its innovative use cases in blockchain technology, particularly for enterprises, have caught the attention of South Korean investors. On Upbit, HBAR recorded a robust $935.6 million in trading volume, accounting for 3.58% of the exchange’s total, highlighting its rising prominence. Ethereum Name Service (ENS) ENS Price Chart | Source: KuCoin Ethereum Name Service continues to attract attention as a key player in the Web3 domain. Trading at $42.23, ENS saw $666.7 million in trading volume on Upbit, reflecting growing interest in decentralized domain naming solutions. Its utility and increasing adoption make it a notable contender in today’s market. Is South Korea in the Full Altcoin Season? South Korea’s cryptocurrency market is at the forefront of a full-fledged altcoin season, with assets like Tron (TRX), XRP, and Cardano (ADA) dominating trading volumes. Analysts point to a significant shift in trader focus toward high-growth altcoins, as Bitcoin’s funding rates remain relatively subdued at 15% annualized. This divergence highlights the appetite for speculative altcoin investments among South Korean traders. Several factors contribute to South Korea’s role in driving global crypto trends. Retail investors dominate the market, leveraging opportunities in trending altcoins and amplifying momentum across key assets. Accessibility to comprehensive trading platforms like Upbit, the country’s largest exchange, plays a pivotal role by offering real-time performance insights and access to a diverse range of tokens. Additionally, South Korea’s regulatory environment, including the postponement of crypto tax policies until 2027, coupled with its robust technological infrastructure, provides fertile ground for the continued growth of its crypto market. Conclusion With record-breaking trading volumes, surging altcoins, and a retail-driven ecosystem, the region continues to lead the way in cryptocurrency adoption. A major milestone was reached recently when cryptocurrency trading volumes surpassed the traditional stock market by 22%, underscoring the profound shift in South Korea’s financial priorities. As altcoin season takes center stage, assets like TRX, XRP, and ADA remain the ones to watch in this dynamic and rapidly evolving market. Investors should do their own research in the volatile market and build a sustainable investment strategy tailored to their goals.
Ripple's XRP has experienced a volatile week, marked by a brief price decline following South Korea's declaration of martial law. Despite this setback, whales and institutional investors have shown unwavering confidence, propelling XRP into the spotlight as one of the most dynamic cryptocurrencies in the market. Quick Take XRP investors realized over $4 billion in profits in the past three days, driven by whale activity and institutional accumulation. XRP has gained over 400% in the past month, consolidating its position as one of the top three cryptocurrencies by market cap. XRP briefly dropped 7% to $1.89 following South Korea’s declaration of martial law, triggering panic selling on local exchanges like Upbit and Bithumb. Large holders (whales) increased their XRP positions despite the sell-off, signaling confidence in the token's long-term potential. XRP's 24-hour trading volume soared to $44.5 billion, making it the third most-traded crypto behind Bitcoin and USDT. Expectations for a U.S. XRP spot ETF are growing, supported by the SEC’s recent non-security ruling and a possible pro-crypto SEC Chair nomination. Positive legal and regulatory developments, including rumors of Ripple’s IPO and ETF applications, could drive further growth. Martial Law in South Korea Triggers XRP Sell-Off XRP price | Source: KuCoin The announcement of martial law by South Korean President Yoon Suk Yeol on December 3 sent shockwaves through global crypto markets. XRP, a popular asset among South Korean investors, saw a sharp 7% dip, briefly trading as low as $1.89 on leading exchanges like Upbit and Bithumb. Trading volumes surged as panic selling gripped the market, forcing temporary halts in XRP transactions on these platforms. This political upheaval caused significant disruptions, with South Korea's high concentration of XRP holders amplifying the volatility. However, XRP prices recovered quickly, climbing back to $2.40 in spot markets and maintaining its status as the third most-traded cryptocurrency by volume, trailing only Bitcoin and USDT. XRP Whales Drive Market Confidence Despite the sell-off, whale activity around XRP has intensified. Data from Santiment shows that whales—holding between 1 million and 10 million XRP—have significantly increased their holdings in the past three days. This accumulation coincides with $4 billion in realized profits among XRP investors, underlining the token's growing appeal to institutional players. Austin Reid, Head of Revenue at FalconX, noted on X (formerly Twitter) that institutional interest is a major driver behind XRP's current momentum. “This isn’t just retail action — institutions are driving the rally,” Reid commented, highlighting a 10x increase in trading volume between the first and second halves of Q4. XRP Price Prediction: Can XRP Touch a New All-Time High? XRP/USDT price | Source: KuCoin Technical indicators suggest that XRP could be on the verge of a breakout. The token is holding above the $2.58 resistance level, a key threshold for further upward movement. A successful recovery and bounce above this level could see XRP targeting $3.57, its upper resistance channel, potentially setting a new all-time high. However, challenges remain. The Relative Strength Index (RSI) indicates overbought conditions, signaling the possibility of a short-term price correction. Analysts caution that a daily close below $1.96 could invalidate the bullish thesis and result in further consolidation. Market Optimism Fueled by Spot XRP ETF Speculation Optimism around a potential XRP spot ETF in the U.S. is adding to the excitement. The non-security ruling for XRP in its case against the SEC has paved the way for speculation about an ETF launch, mirroring the success of Bitcoin’s spot ETF approvals earlier this year. Ripple investment products have already seen record inflows of $95 million in the past week, according to CoinShares. Crypto weekly inflows | Source: CoinShares Former SEC Commissioner Paul Atkins, rumored to be the next SEC Chair, is seen as a potential ally for the crypto industry. His pro-market stance could accelerate regulatory clarity, benefiting XRP and the broader crypto ecosystem. What’s Next for XRP? Over the past month, XRP has surged by over 400%, cementing its position as one of the most promising altcoins. If the token maintains its upward trajectory, driven by whale accumulation, institutional interest, and potential regulatory breakthroughs, 2025 could see XRP reaching new milestones. For now, XRP remains one of the market’s most closely watched assets, with its recovery from recent volatility underscoring its resilience and long-term potential. Read more: Could $XRP Reach $3 Ahead of XRP ETF Approval?
Bitcoin is currently priced at $96,582, showing a modest 0.97% increase in the past 24 hours, while Ethereum trades at $3,614, down 0.79% over the same period. The futures market remains balanced, with a 49.2% long and 50.8% short position ratio. The Fear and Greed Index, a key measure of market sentiment, climbed from 76 (Greed) yesterday to 78 (Extreme Greed) today. Despite South Korea’s declaration of martial law on December 3 briefly pushing Bitcoin to $95,692 and Ethereum to $3,643.90, both assets rebounded after the lift of the martial law, with Bitcoin up 2.4% and Ethereum gaining 3.3%. Other assets saw significant moves, with Tron surging 80% to $0.40, Cardano climbing 275% to $1.20, and XRP rising 200% to $2.84 over the past 30 days. In South Korea, XRP trading volume hit $6.3 billion, while Dogecoin and Stellar reached $1.6 billion and $1.3 billion, respectively. What’s Trending in the Crypto Community? On Upbit, Bitcoin faced a sharp negative premium, plunging by 30% following the President’s declaration of martial law. However, just six hours later, the emergency martial law was lifted, allowing BTC and ETH to recover swiftly. Tron and a few other altcoins surges 80% in 24 hours amid the volatility. Meanwhile, Vitalik Buterin published an insightful article detailing a blueprint for building the ideal crypto wallets. His vision emphasizes cross-layer-2 (L2) transactions and robust privacy protection, setting the stage for a new era of user-friendly and secure crypto tools. Pump.fun's November revenue hit a record high of $93.88 million. Virgin Cruises announced it would become the first cruise company to accept BTC payments. BlackRock's spot Bitcoin ETF assets under management exceeded 500,000 BTC. Crypto Fear & Greed Index | Source: Alternative.me Trending Tokens of the Day Top 24-Hour Performers Trading Pair 24H Change TRX/USDT + 67.26% XRP/USDT - 6.32% ADA/USDT - 6.18% Trade now on KuCoin Read More: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025 Crypto Markets Rebound as South Korea Reverses Martial Law Source: KuCoin 1 Day BTC/USDT chart The global cryptocurrency market experienced a rollercoaster ride as South Korea grappled with a dramatic political crisis. President Yoon Suk-yeol declared martial law, only to rescind it six hours later following overwhelming opposition from lawmakers. This turmoil caused sharp fluctuations in crypto prices, underscoring the market’s sensitivity to geopolitical developments. Bitcoin and Altcoins Rebound After Martial Law-Induced Dip The unexpected declaration of martial law in South Korea caused immediate turbulence in the cryptocurrency market. Following the announcement, Bitcoin dropped sharply to $95,692, Ethereum fell to $3,643.90, and XRP slid to $2.54, sparking concern among investors. However, swift action to reverse the decision led to a rapid recovery across major assets, with Bitcoin rebounding by 2.4%, Ethereum gaining 3.3%, and XRP surging by 9.2%, according to CoinMarketCap. South Korea's active retail trading community played a pivotal role in stabilizing the market. Trading volumes on December 2nd reached their second-highest level of the year, driven by heightened activity in assets like XRP, which recorded $6.3 billion in volume. Dogecoin and Stellar also saw significant traction, with volumes of $1.6 billion and $1.3 billion, respectively. Emerging tokens like Ethereum Name Service and Hedera contributed to the day’s dynamic activity as traders leveraged the volatility to reposition. Tron Surges 80% Amid Market Chaos Due to Martial Law Source: KuCoin 1 Day TRX/USDT chart During the political turmoil, Tron (TRX) rallied 80%, climbing to $0.40 after briefly hitting $0.43. Analysts pointed to the token’s role as a fast transfer mechanism during exchange disruptions. “The recent rally in Tron (TRX) appears to be partly driven by political instability in South Korea,” said Rachael Lucas, crypto analyst at BTC Markets. “TRX’s role as a widely used transfer token between exchanges, especially in South Korea, makes it a tool for traders looking to move funds across platforms quickly.” Lucas added that trading restrictions on Upbit and Bithumb, which control over 80% of South Korea’s spot trade volume, likely drove traders to seek alternatives. “It seems that during martial law, all of crypto is moving out to foreign exchanges as South Korean exchanges blew up,” a user on X wrote. Min Jung, an analyst at Presto Research, suggested other factors contributed to the rally. “It could also be part of a broader 'Dino rotation,' where legacy cryptocurrencies like $XRP have been rallying under current market conditions,” she said. Speculation around Justin Sun, Tron’s founder, also fueled debates. “Rumors suggest that a significant portion of $TRX's supply is controlled by Justin Sun, raising questions about whether the rally is organic or influenced,” Jung noted. Altcoins Cardano and XRP Outperform Bitcoin in the Past 30 Days Source: KuCoin While Bitcoin approached $100,000, Cardano (ADA) and XRP outperformed it with gains of 275% and 200% over 30 days. ADA climbed above $1.20, driven by ecosystem upgrades and regulatory optimism. XRP reached $2.84, its highest value in seven years. XRP Price Chart | Source: KuCoin “Cardano’s focus on scalability and interoperability is finally paying off,” an analyst noted. “Its technical advancements, such as Hydra and Mithril, have created a robust platform that appeals to institutional and retail investors.” XRP’s surge was fueled by reduced reserve fees and partnerships with financial institutions. Ripple introduced tokenized money market funds and prepared to launch RLUSD, its stablecoin, which received regulatory approval in New York. Bitcoin and Altcoins Rebound After Martial Law-Triggered Dip The resignation of SEC Chair Gary Gensler and the U.S. presidential election have bolstered market confidence. Many expect the incoming administration to adopt a crypto-friendly stance. This optimism, combined with ongoing technical advancements, has positioned altcoins for growth. Ripple’s commitment to stability was evident in its decision to relock 770 million XRP tokens for another five years. The company’s moves signal confidence in XRP’s long-term value. The Relative Strength Index (RSI) stands at 91.47. An RSI above 70 signals overbought conditions, often hinting at a potential market adjustment. A retracement could bring XRP's price to around $1.79. If buying pressure persists, XRP could target $3, depending on overall market trends. Read More: What Is Altcoin Season (Altseason), and How to Trade Altcoins? Conclusion The past week underscored the intricate relationship between politics, regulation, and market behavior. South Korea’s political crisis and regulatory shifts in the U.S. created opportunities for altcoins like Cardano and XRP to outperform Bitcoin. These events demonstrate the resilience of blockchain projects and their potential to thrive in an evolving landscape. As the crypto market matures, investor focus is shifting toward assets that combine innovation with practical utility.
The dynamics of the crypto market are shifting. According to CryptoQuant CEO Ki Young Ju, stablecoin liquidity now serves as the primary driver for altcoin trading volumes. In a post on X, Young Ju stated, "Alt season is no longer defined by asset rotation from Bitcoin. Stablecoin liquidity better explains the altcoin markets." Quick Take CryptoQuant CEO Ki Young Ju highlights the role of stablecoin liquidity in boosting altcoin trading volumes. Unlike previous bull runs, altcoin surges are no longer tied to capital exiting Bitcoin. Institutional investors and ETFs contribute to Bitcoin’s rally without fueling altcoins. Retail investors remain critical to driving liquidity into altcoins and ushering in altcoin season. XRP (XRP) and Solana (SOL) have emerged as standout performers in this bullish market cycle. Stablecoins’ On-Chain Trading Volume Crosses $1.1T in November Stablecoins’ trading volume | Source: VisaOnchainAnalytics The rising on-chain trading volume of stablecoins, which reached $1.17 trillion in November, highlights their growing importance in the crypto ecosystem. Stablecoins like USDT and USDC account for the lion’s share of this liquidity, fueling both Bitcoin and altcoin markets. Analysts predict that the evolving role of stablecoins could lead to a more stable and diversified crypto market. This transformation underscores the importance of monitoring stablecoin liquidity as a key indicator for altcoin performance. Altcoin Season: A New Paradigm Unlike Previous Altseasons Blockchain Center’s Altseason Index | Source: Blockchain Center Historically, altcoin seasons emerged when investors rotated capital from Bitcoin into alternative cryptocurrencies. However, Young Ju notes that the current bull market is rewriting this narrative. CryptoQuant’s data reveals that while Bitcoin trading volumes are down, stablecoin trading volumes have hit peak levels in 2024, indicating that the liquidity for altcoins is now coming from stablecoin and fiat pairs. Blockchain Center’s Altseason Index has already crossed the threshold of 75 and surged to 80, indicating that the altcoin season is already underway in the crypto market. Read more: What Is Altcoin Season, and How to Trade Altcoins? Institutional Investors Alter Market Dynamics The delayed arrival of an altcoin season has puzzled many market participants. Young Ju attributes this to the dominance of institutional investors, who have been key drivers of Bitcoin’s recent rally. These entities, often investing through spot ETFs and outside of crypto exchanges, show little interest in altcoins. “Unlike crypto exchange users, institutional investors and ETF buyers have no intention of rotating their assets from Bitcoin to altcoins,” said Young Ju. This trend underscores the need for fresh liquidity from retail investors to reignite altcoin markets. Retail Investors Remain Crucial For altcoins to reach new all-time highs, significant retail-driven liquidity is required. Young Ju emphasizes the necessity for new exchange users and capital inflows to boost altcoin market capitalization, which remains below its previous peaks. Is Alt Season Here? Altcoin Season Index Chart | Source: Coinmarketcap The debate over whether alt season has already begun remains active. Podcaster CryptoVizArt argues that the season has started, citing Solana’s recent rally as evidence. Ripple (XRP) also surged by over 20% in the past 24 hours, briefly overtaking Tether (USDT) in market capitalization. Similar to Blockchain Center’s analysis, Coinmarketcap’s Altcoin Season Index also suggests that the altcoin season has begun, with its index rising to 83 as of writing. However, Young Ju and other analysts maintain that alt season is uneven. "Altseason has started for a few major altcoins, but not for others,” he said. Blockchain Center’s Altcoin Season Index, which measures the performance of altcoins against Bitcoin, is approaching its critical threshold of 75%, suggesting that a broader altcoin season may be imminent. A Look Ahead While institutional investors may not drive altcoin gains, retail traders could still catalyze a rally. As stablecoin liquidity grows, the conditions for a sustained altcoin season are strengthening. However, for altcoins to thrive, the market will need new entrants and innovative use cases to attract attention. Stay tuned as KuCoin News continues to cover the latest market trends and their implications for the crypto ecosystem.
XRP has become the third largest cryptocurrency by market cap after rapid gains driven by regulatory speculation, market momentum, and Ripple's expanding influence. XRP surged past $2 on December 1st, 2024, marking only the second time since January 2018 that it has reached this level. Top five coins by market capitalization as of Dec. 2. Source: CoinGecko This milestone highlights growing confidence in the token's market strength. Current bullish momentum suggests the rally could push XRP toward $3 in the near future. Market participants, including whales and institutional investors, have intensified their activity, adding fuel to the upward trajectory. XRP Price Chart | Source: KuCoin XRP’s $150 billion market cap and $256 million inflow highlights its strength and potential. With legal progress, regulatory momentum, and bullish market trends, XRP targets $3.15 and beyond. Source: CryptoQuant XRP has rapidly surged to become one of the top three cryptocurrencies by market cap, reaching $150 billion, up from just $30 billion in early November. The token’s price has skyrocketed to $2.72, marking a 10% increase in the past 24 hours and a remarkable 50% gain over the last week. This surge is fueled by a 30% spike in XRP derivatives open interest, which reached $4 billion in a single day, and substantial exchange inflows, with $256 million worth of XRP being transferred to exchanges in just three days. XRP’s strong performance, driven by growing market interest and robust trading volume of $8.9 billion, has positioned it as a dominant player in the crypto space, overtaking other major assets like Tether and Solana. Key Drivers Behind XRP’s Rally Anticipation of RLUSD Stablecoin Launch: XRP has surged by over 400% in the past month, briefly becoming the third-largest cryptocurrency after Bitcoin and Ethereum. This rally gained further momentum with leaks suggesting that Ripple’s RLUSD stablecoin could debut on December 4, 2024. The stablecoin launch is expected to solidify XRP’s position in the market by enhancing its use cases and utility. Push for XRP Spot ETF Approval: Wall Street has ramped up efforts to secure an XRP spot ETF, following the successful debut of Bitcoin and Ethereum spot ETFs. Major players like WisdomTree, Bitwise, and Canary Capital have filed for XRP ETFs, with Bank of New York Mellon poised to administer the proposed trust. If approved, an XRP spot ETF could significantly boost its market valuation and attract institutional investment. Progress in Ripple vs. SEC Lawsuit: Ripple's legal battle with the SEC shows signs of resolution as the SEC Chair steps down in January. Speculation grows that the SEC may drop its appeal against Ripple following Trump's election win. Market Sentiment: Broader crypto markets are bullish with Bitcoin trading near $100,000 and Ethereum at $3,624. Ripple CEO Brad Garlinghouse's push for regulatory clarity has also strengthened investor trust in XRP. Market activity indicates strong participation from whales and institutional players. However, CryptoQuant data warns that significant inflows to exchanges and leveraged positions could lead to corrections. Historical patterns suggest a potential 17% price decline under these conditions. XRP Price Prediction and Market Outlook XRP broke key resistance at $2, indicating strong bullish momentum. Analysts target $3.15 short term and $4 medium term, with potential for $5 in the longer term. Short Term: Price range: $2.80 to $3.15 Support: $2.30 Resistance levels: $2.50 and $3 Target trading volume: $5 billion Market analysts predict that XRP could extend its rally by another 100%, reaching a price of $4.21. This projection is supported by XRP’s recent breakout above the $2.58 resistance level, which validated a rounded bottom pattern. If XRP maintains its bullish momentum, the next target is $3.57, marking a significant milestone on its path to an all-time high. Prominent analyst CrediBULL Crypto notes that XRP is currently advancing within its third subwave of a larger bullish structure. According to the analyst, two more waves within this subwave could drive the token to surpass its previous all-time high. "We’re just getting warmed up. The ascent is going to be pure mania," he remarked. Medium Term: Target price: $3.50 to $4 Market cap at $4: $180 billion Projected volume increase: 10 % daily Long Term: Price target: $5 Market cap at $5: $220 billion Percentage gain from $2.30: 117 % XRP whales have played a pivotal role in the recent rally. Wallets holding between 1M and 10M XRP accumulated 679.1 million tokens worth $1.66 billion over three weeks. This large-scale accumulation, alongside a surge in weekly active addresses by 200% to 307,000, reflects growing confidence among institutional and retail investors alike. Analyst Steph has described XRP at $1.4 as a “bargain buy,” emphasizing that the token remains undervalued compared to its potential. Steph predicts an explosive long-term rally, with XRP possibly reaching as high as $50 under favorable market conditions. XRP’s trajectory suggests a strong push toward $3.15. Analysts cite several factors supporting this prediction: Bullish Sentiment: 66.5% of traders hold long positions on XRP. Price Action: Breakout above $2 indicates potential for continued upward momentum. Resistance Levels: Next targets at $3 and $3.15 based on historical price trends. Risks to XRP's Momentum Whale Activity and Potential Sell-Offs On-chain data reveals that whales have moved $256.3 million worth of XRP to exchanges over three days, signaling potential sell-offs. This activity could put downward pressure on XRP's price. If the $2.30 support level fails to hold, XRP could correct toward the $2 to $2.10 range, offering disciplined investors potential entry points during the dip. Overleverage in the Derivatives Market High leverage in the derivatives market adds to the risk of heightened volatility for XRP. A sharp price decline could trigger mass liquidations, exacerbating downward pressure. Leveraged positions have historically magnified corrections during rapid surges, increasing the likelihood of short-term instability. Risk indicators Key support: $2.30 Correction range: $2 to $2.10 Historical correction probability after surges: 25 % Source: XRP Resistance Levels TradingView Ripple’s Strategic Advancements Ripple aims to solidify its ecosystem. Approval of its RLUSD stablecoin and new partnerships are strengthening its position. XRP trades near $2.72 on December 2, 2024, showing a price increase of over 10% in the last 24 hours. Trading volume has dropped by 14% during the same period, signaling reduced activity from traders and investors compared to recent days. Buy XRP on KuCoin to catch the XRP bull market. Ripple’s RLUSD Stablecoin Fuels Optimism Ripple’s RLUSD stablecoin is at the center of XRP’s recent surge. Reports indicate that the New York Department of Financial Services may approve RLUSD by December 4. This stablecoin is part of Ripple’s strategy to revolutionize cross-border payments with faster, energy-efficient solutions. Regulatory developments add to the optimism. SEC Chair Gary Gensler’s departure in January, coupled with the Trump administration's pro-crypto stance, raises the likelihood that the SEC will drop its appeal against Ripple. This could resolve a legal battle that has overshadowed XRP since 2020. Conclusion XRP's recent performance shows its growing strength in the crypto market. Positive regulatory developments increasing investor interest and strong market activity drive its rise. Surpassing $2 and becoming the 3rd largest cryptocurrency by market cap mark major milestones. The anticipated launch of Ripple's RLUSD stablecoin and potential regulatory shifts add to its momentum. Traders should remain cautious as high inflows to exchanges could signal corrections. XRP nears $3 making its trajectory critical to watch as it shapes the future of the cryptocurrency market. Read more: XRP Surges to 3rd Largest and Targets A ETF Proposal, Ethereum Investment Products Breaks Records with $634m Inflows and More: Dec 3
Bitcoin is currently priced at $95,826 with -1.4% decrease from the last 24 hours, while Ethereum is at $3,643, up by -1.76% in the past 24 hours. The market's 24-hour long/short ratio in the futures market was almost balanced at 48.7% long versus 51.3% short positions. The Fear and Greed Index, which measures market sentiment, was at 80 yesterday and is at the Extreme Greed level at 76 today. The cryptocurrency market continues to push boundaries with XRP achieving a market cap of $150 billion to become the third-largest cryptocurrency. Ethereum investment products shattered records with $2.2 billion in annual inflows. Ripple’s RLUSD stablecoin is also on the brink of approval, adding momentum to XRP ’s rise. This is a defining moment for digital assets as major players gain traction and set new benchmarks. What’s Trending in Crypto? MicroStrategy buys another 15,400 BTC at an average price of $95,976 per coin. U.S. government address transfers 19,800 BTC, approximately $1.92 billion and 10,000 BTC flowed into Coinbase. Crypto market spot trading volume in November reached $2.7 trillion, the highest since May 2021. WisdomTree Targets XRP with new ETF proposal. Crypto Fear & Greed Index | Source: Alternative.me Trending Tokens of the Day Top 24-Hour Performers Trading Pair 24H Change XRP/USDT +14.16% HBAR/USDT +55.20% ONDO/USDT +36.95% Trade now on KuCoin Read More: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025 XRP Takes Third Place in Crypto with $150 Billion Market Cap Top five coins by market capitalization as of Dec. 2. Source: CoinGecko XRP ’s rise to $2.72 marks a new chapter in its journey. This price surge brought its market cap to $150 billion, overtaking Tether and Solana. The token's value soared past $2 on December 1, 2024, a feat achieved only once since January 2018. Analysts project that XRP’s momentum could push it toward $3.15 in the coming days. Source: KuCoin XRP has entered a new chapter in its journey, with its price surging to $2.72, bringing its market cap to $150 billion—surpassing Tether and Solana. This rise marks a significant milestone, as XRP's value exceeded $2 on December 1, 2024, a level not seen since January 2018. Over the past week, XRP has gained nearly 50%, with a 21% increase in just 24 hours. Analysts predict that its momentum could propel the token toward $3.15 in the coming days. In addition to the price surge, XRP derivatives saw a 30% spike in open interest, reaching $4 billion in a single day, while exchange inflows hit $256 million within three days. Market activity indicates strong participation from whales and institutional players. However, CryptoQuant data warns that significant inflows to exchanges and leveraged positions could lead to corrections. Historical patterns suggest a potential 17% price decline under these conditions. Source: CryptoQuant XRP Price Prediction and Market Outlook XRP’s trajectory suggests a strong push toward $3.15. Analysts cite several factors supporting this prediction: Bullish Sentiment: 66.5% of traders hold long positions on XRP. Price Action: Breakout above $2 indicates potential for continued upward momentum. Resistance Levels: Next targets at $3 and $3.15 based on historical price trends. Source: XRP Resistance Levels TradingView However, whales and institutions have moved $256 million of XRP to exchanges, signaling potential sell-offs. This could trigger temporary corrections, creating opportunities for disciplined investors to enter. Ripple’s RLUSD Stablecoin Fuels Optimism Ripple’s RLUSD stablecoin is at the center of XRP’s recent surge. Reports indicate that the New York Department of Financial Services may approve RLUSD by December 4. This stablecoin is part of Ripple’s strategy to revolutionize cross-border payments with faster, energy-efficient solutions. Regulatory developments add to the optimism. SEC Chair Gary Gensler’s departure in January, coupled with the Trump administration's pro-crypto stance, raises the likelihood that the SEC will drop its appeal against Ripple. This could resolve a legal battle that has overshadowed XRP since 2020. WisdomTree Targets XRP with New ETF Proposal Source: X WisdomTree has filed for the creation of the WisdomTree XRP Fund as the token’s value soars. The firm manages $77.2 billion in assets and operates 79 ETFs globally. WisdomTree’s move signals growing confidence in XRP’s market potential. If approved, this ETF could attract significant institutional investment, further solidifying XRP’s position. Crypto ETF applications are increasing following Donald Trump’s election. Ripple’s ongoing success has renewed interest in XRP as a viable digital asset for institutional portfolios. WisdomTree’s proposal aligns with a broader industry push for crypto ETFs based on alternative tokens like Solana and HBAR. Ethereum ETF Products Shatter Records with $634m Inflows Ethereum-based investment products attracted $634 million in inflows last week, pushing annual inflows to $2.2 billion. This surpasses the $2 billion record set in 2021. Spot Ethereum ETFs in the U.S. led the charge, contributing $466.5 million in a single week despite the holiday slowdown. “For the first time, Ethereum outpaced Bitcoin in inflows at these high levels. Ethereum’s performance reflects renewed investor interest, with a 47.15% monthly gain, nearing its ETF announcement peak of $4,095,” BRN analyst Valentin Fournier wrote. “The global crypto market cap has risen by 72% since the U.S. election to $3.43 trillion, outpacing the growth of Bitcoin and Ethereum,” Fournier continued. “This suggests early signs of an alt-season.” Ethereum By the Numbers Monthly Gain: Ethereum climbed 47.15% in November nearing its peak of $4,095. Spot ETF Inflows: $1.1 billion since the U.S. election. Total Assets Under Management: $11 billion across Ethereum-focused products. Inflow Comparison: Ethereum outpaced Bitcoin with $332.9 million vs. $320 million in recent weekly inflows. Analysts highlight several catalysts for Ethereum’s rise, including improved demand-supply dynamics, staking yield approvals, and its leading role in the altcoin resurgence. Ethereum’s performance positions it as a key asset during this bullish phase. Source: The Block Conclusion XRP’s rise to the third-largest cryptocurrency underscores its growing influence in the market. With a $150 billion market cap and price surging past $2.72, XRP is capitalizing on regulatory optimism and institutional interest. Ethereum’s record-breaking inflows further highlight the evolving crypto landscape. Ripple’s RLUSD stablecoin approval could provide additional momentum, reinforcing XRP’s position. As market dynamics evolve, heightened volatility is expected during the Christmas season. Read more: December 2024 Token Unlocks Could Have a $5 Billion Impact on the Crypto Market
Get ready for an exciting month in crypto! December 2024 is packed with airdrop opportunities. Learn how to participate, boost your earnings, and stay ahead in this comprehensive guide to the biggest crypto events of the year. This December, the crypto world is buzzing with highly anticipated airdrops across diverse ecosystems. These airdrops reward early adopters and community members, offering opportunities to claim free tokens and engage with groundbreaking projects. Here’s an expanded guide to the top five airdrops of the month, complete with tokenomics and key details. If you’re looking to get ahead, consider pre-market opportunities to buy $XION, $ME, and $GOATS tokens on KuCoin. Read More: What Is Crypto Airdrop and How Does It Work? 1. Magic Eden’s ME Token Airdrop Promotional artwork for ME token. Image: ME Foundation Magic Eden, one of Solana’s leading NFT marketplaces, will launch its native token $ME on December 10. This token will reward loyal users of Magic Eden’s Bitcoin exchange and cross-chain NFT marketplace. If you’ve been active on Magic Eden, now is the time to verify your eligibility through the Magic Eden Wallet app. Tokenomics: Total Supply: 1 billion ME tokens Airdrop Allocation: 12.5% (125 million tokens) Ecosystem Incentives: 22.5% (225 million tokens) Pre-Market Price: $3.41 on Coinbase and $4.50 on KuCoin Estimated Airdrop Value: Over $500 million Magic Eden will have a four-year unlocking schedule for ME tokens. | Source: Magic Eden The $ME airdrop will consider factors like trading activity and loyalty through Magic Eden Diamonds. With 125 million tokens immediately available for claiming, this is one of the most valuable airdrops in December. If you’re eager to secure $ME, buy it early on KuCoin where pre-market trading has shown significant interest. Buy $ME on KuCoin pre-market now. 2. Movement Network’s MoveDrop Airdrop Source: Movement Network Movement Network’s MoveDrop rewards early adopters and contributors with $MOVE tokens. Participants include test network builders, Road to Parthenon contributors, and community members. Registration for the airdrop closes on December 2 at 2:00 p.m. UTC, so act fast if you qualify. Tokenomics: Total Supply: 10 billion MOVE tokens Airdrop Allocation: 10% (1 billion tokens) Initial Circulation: 22% Ecosystem Reserve: 40% Early Contributors and Investors: 17.5% and 22.5%, respectively The $MOVE token drives governance and liquidity across the Movement Network. Eligible users can claim tokens on Ethereum or wait for the mainnet launch for a 1.25x multiplier. Future events will distribute even more $MOVE tokens, making this a project to watch for long-term opportunities. Buy $MOVE on KuCoin’s pre-market now. 3. Suilend’s SEND Token Airdrop Source: X Suilend, the Sui blockchain’s eco-lending protocol, will launch its $SEND token on December 12, 2024. This airdrop rewards early adopters and users who earned Suilend Points or Rootlets. Tokenomics: Total Supply: 100 million SEND tokens Airdrop Allocation: 23.333% (23.333 million tokens) Early Adopters: 2% (2 million tokens) Suilend Points Holders: 18% (18 million tokens) Rootlets Allocation: 3.333% (3.333 million tokens) Early users: users before the launch of Suilend Points in May 2024 will receive 2% of SEND. Suilend Points: account for 18% of the total SEND supply. Rootlets: distributed in three airdrops, totaling 3.333%, with each airdrop being 1.111%, the first airdrop will be available for claim upon release. Capsule NFTs: account for 0.3%, allocated based on rarity (Common, Rare, and Ultra Rare each 0.1%). Bluefin League holders: receive 0.05% of SEND. Bluefin SEND-PERP traders: receive 0.125% of SEND. Ecological NFTs and MEMECOINS: fixed allocation by address. With $SEND, users gain access to governance and utility functions in the Suilend ecosystem. The allocation checker is live, allowing users to verify their eligibility and claim tokens once the airdrop launches. 4. XION Airdrop: Believe in Something XION, the first walletless Layer 1 blockchain, is airdropping 10 million $XION tokens. This airdrop celebrates contributors who engaged with XION products and ecosystems throughout the year. With gasless transactions, fiat integration, and interoperability across 50+ networks, XION is designed for mass-market adoption. The snapshot date is expected to happen on July 15, 2024. Tokenomics and Key Dates before the Airdrop: Total Supply: 200 million XION tokens Airdrop Allocation: 5% (10 million tokens) Ecosystem and User Reserve: 69% Snapshot Dates: March 6 and July 15, 2024 Join the online startup competition and create standout consumer-ready applications from Nov 21st to Dec 15th for a shot at winning your share of a $40,000 prize pool and millions in funding opportunities. According to their official website, Believathon Prizes Include: The Believathon is intended for serious entrepreneurs looking to grow their business idea into a reality, with the opportunity to join XION's incubation program and tap into additional ecosystem support. It will support the next generation of user-friendly Web3 projects launching products utilizing XION’s abstraction stack, with prizes including: Prize Pool: $40,000 Best Overall: $8,000 Track 1st Place: $5,000 Track 2nd Place: $2,500 Bonus: Best Mobile Responsiveness: $2,000 Millions in pre-seed funding opportunities for select hackathon winners Fast-track access into XION’s upcoming ACCELERAXION program Opportunity to deploy to XION’s mainnet, becoming an early believer in the fast-growing ecosystem. Source: Cryptorank.io Connect your wallet, do the tasks, and earn your qualification to participate in the airdrop. $XION powers governance, staking, and transaction functions in its ecosystem. This Layer 1 blockchain is a game-changer, enabling Web3 adoption at scale. Don’t miss the chance to buy $XION on KuCoin pre-market to secure your stake in this groundbreaking project. 5. Goats Airdrop: Gaming Meets NFTs Source: X Goats combines NFTs and play-to-earn gaming, offering token holders rewards they can stake, trade, or use in its gaming ecosystem. The Goats airdrop targets early adopters and community contributors. Since its launch, GOATS has rapidly gained momentum, building a strong community within Telegram. The platform now boasts over 3 million Daily Active Users (DAUs), making it one of the most active Telegram mini-apps. In addition, GOATS has achieved a remarkable 17 million Monthly Active Users (MAUs), with millions engaging with the platform each month. One of its standout features is the distribution of $TON rewards, offering real earning potential through daily activities and mini-games. GOATS' rapid rise has created significant buzz in the Telegram gaming community, combining both fun and financial opportunities for its users. Its massive user base, along with a diverse range of games, has helped GOATS become a major player in the memecoin sector. Tokenomics: Total Supply: 500 million GOAT tokens Airdrop Allocation: 10% (50 million tokens) Ecosystem Development and Rewards: 40% Initial Circulation: 20% Community Reserve: 15% How to Maximize Rewards: Achieve the Highest GOATS Pass Rank Five ranks are available, with rank 4 indicated as advanced. Higher ranks may unlock superior perks and larger token allocations. Perks are to be announced, but higher ranks typically lead to exclusive rewards. Boost Your $GOATS Token Balance Larger balances result in increased airdrop distributions. Participate in platform activities and complete missions to enhance your holdings before the distribution. Additional Features Points System: Earn points through activities to improve your rank and qualify for exclusive rewards or perks. Listings: $GOATS listing and token launch is set for December, 2024. Stay updated on exchanges where $GOATS will be available like KuCoin, offering opportunities to buy more tokens or trade your holdings. Why Prepare for the GOATS Airdrop? The GOATS airdrop combines community engagement with incentive-based rewards, allowing participants to gain new assets with minimal effort. By increasing your balance, earning points, and improving your GOATS Pass rank, you can maximize your allocation. This event is a significant opportunity to diversify your crypto holdings and benefit from the dynamic blockchain ecosystem. Goats leverages NFTs and blockchain gaming to create a dynamic, rewarding experience. With tokens available for pre-market trading on KuCoin, this is an ideal opportunity for gamers and NFT enthusiasts to secure their stake in an innovative project. 6. U2U Network U2U Network, a Layer 1 blockchain tailored for Decentralized Physical Infrastructure Networks (DePIN), has unveiled its inaugural airdrop campaign. This initiative aims to reward early supporters and active participants within the U2U ecosystem. The specific date for claiming the $U2U tokens will be announced soon, so participants are encouraged to stay updated through official channels. U2U Network’s Airdrop Season 1 rewards early supporters with $U2U tokens for their contributions to the ecosystem. Claimable date for the $U2U airdrop tokens will be announced soon. The snapshot deadline for DePIN Alliance and U2DPN users is yet to be finalized—there’s still time to qualify. Source: U2U Network Key Features of U2U Network EVM Compatibility: Facilitates seamless onboarding of decentralized applications (dApps) onto the U2U Chain. Helios Consensus: Built atop a Directed Acyclic Graph (DAG), this consensus algorithm allows the network to handle up to 72,000 transactions per second (TPS) with a finality time of 650 milliseconds. U2U Subnet: Enables dApps to operate on modular subnets, reducing reliance on the mainnet and enhancing scalability. What Is the $U2U Token? $U2U is the native utility token of the U2U Network ecosystem, serving multiple functions: Staking Rewards: Validators earn $U2U tokens for securing the network. Transaction Fees: Used for transactions within the U2U Network. Governance: Empowers holders to participate in decentralized decision-making processes. $U2U Tokenomics Source: U2U Network docs The $U2U token is the native coin of the U2U Network, with a total supply of 10 billion tokens. A significant portion of the supply is allocated to support the network’s DePIN initiatives, particularly rewarding subnet node owners and operators. Reward Distribution for DePIN Subnet Nodes 10% of the total supply, equivalent to 1 billion $U2U tokens, is reserved as rewards for DePIN Subnet Node owners and operators. How to Participate in the U2U Airdrop To participate in the U2U airdrop, start by verifying your eligibility based on the outlined criteria. Stay updated by monitoring official U2U Network channels for the announcement of the claim date. Once the airdrop claim date is revealed, follow the provided instructions to claim your $U2U tokens. Who Is Eligible for the U2U Network Airdrop? Solar Adventure Participants: Users who have collected the full set of 8 Planet NFTs—Venus, Mars, Neptune, Uranus, Earth, Mercury, AZ, and Jupiter—through the Solar Adventure are eligible for the airdrop. "We Are Not Human" Campaign Contributors: Participants who earned all 12 OATs in the collaborative "We Are Not Human" Galxe campaign, which involved partners like io.net and GaiaNet, qualify for rewards. DePIN Alliance App Users: Users who have reached Level 25 or higher by completing tasks such as connecting X accounts and joining the U2U Telegram group are eligible. U2DPN Users: Participants who have generated at least one session, linked their mainnet wallet, and completed a token withdrawal in the U2DPN app qualify for the airdrop. Why Participate in the U2U Airdrop? This $U2U airdrop offers early supporters a unique opportunity to become integral members of the U2U Network ecosystem. By participating, you gain access to the network's innovative DePIN solutions and contribute to the growth of a decentralized future. The "Catch The Wave: U2U Network’s Airdrop Season 1" marks a significant milestone in U2U Network's mission to enhance blockchain scalability and real-world application integration. Participants are advised to stay tuned for updates on the claim date and to engage with the U2U community through official channels. This Is Not Investment Advice Airdrops offer exciting opportunities to earn tokens but carry inherent risks. Always conduct thorough research before participating. This guide is for informational purposes only and not financial advice. Conclusion December’s airdrops highlight the diversity and innovation in blockchain. With opportunities like Magic Eden’s $ME token, Movement Network’s $MOVE, Suilend’s $SEND, XION’s $XION, and Goats’ $GOAT, these projects showcase the potential of NFTs, DeFi, and blockchain gaming. Take advantage of pre-market trading on KuCoin to secure $ME, $XION, and $GOAT tokens and get ahead in these transformative ecosystems. Stay informed, claim your rewards, and explore the future of decentralized finance and gaming. Read more: November 2024 Airdrops: Boost Your Crypto Earnings with This Complete Guide October’s Top Crypto Airdrops: X Empire, TapSwap & MemeFi and More
December 2024 is shaping up to be a significant month for the cryptocurrency market, with over $5 billion worth of tokens set to be unlocked. High-profile projects like Cardano (ADA), Jito (JTO), and Aptos (APT) lead the charge, alongside several other notable blockchain initiatives. These token unlocks may influence market dynamics, creating both challenges and opportunities for investors. Below is a detailed overview of the most important token unlocks and their potential market impact. Key Highlights December 2024 will see $5.08 billion worth of tokens unlocked, with $1.99 billion classified as cliff unlocks. Major projects include Jito, Cardano, Aptos, Sui, Arbitrum, and Optimism. Token unlocks could increase market volatility and present buying opportunities. Sui (SUI) – December 1 Source: Tokenomist Tokens Unlocked: 64.19 million SUI Value: $221.47 million Percentage of Supply: 2.26% On December 1, Sui initiated its largest cliff unlock to date, introducing 64.19 million SUI tokens into circulation. This release, representing 2.26% of the token's total supply, is valued at $221.47 million. As part of Sui’s monthly unlock schedule, the distribution aims to strengthen ecosystem initiatives and reward early contributors. However, this significant addition to the circulating supply could temporarily increase selling pressure. Read more: Top Projects in the Sui Ecosystem to Watch Cardano (ADA) – December 5 Source: Tokenomist Tokens Unlocked: 18.53 million ADA Value: $20 million Percentage of Supply: <0.1% Purpose: Staking and treasury funding reserves Cardano has shown strong performance recently, with ADA trading above $1 for the first time in over two years. This modest unlock is unlikely to disrupt the market but will be closely watched as it aligns with Cardano’s rising momentum. Read more: Top 15 Layer-1 (L1) Blockchains to Watch Jito (JTO) – December 7 Source: Tokenomist Tokens Unlocked: 135.71 million JTO Value: $521 million Percentage of Supply: 103% Purpose: Core contributors and investors This is the largest unlock of the month, potentially doubling Jito’s circulating supply. The Solana-based DeFi project has shown resilience, with JTO trading near $3.8 recently. Investors should monitor Jito’s ecosystem growth to assess its ability to absorb this supply. Read more: Restaking on Solana (SOL): A Comprehensive Guide Aptos (APT) – December 11 Source: Tokenomist Tokens Unlocked: 11.31 million APT Value: $153 million Percentage of Supply: 2% Distribution: Foundation: $17.56 million Community: $42.28 million Core Contributors: $52.13 million Investors: $36.98 million Aptos, known for its scalability and security, will distribute tokens to various stakeholders. This release could introduce short-term selling pressure but may also attract buyers looking for lower entry points. Other Significant Token Unlocks to Watch in December Neon (NEON) – December 7 Source: Tokenomist Tokens Unlocked: 53.91 million Value: $22.2 million Percentage of Supply: 45% Neon’s Ethereum Virtual Machine (EVM) compatibility on Solana positions it as a key player bridging the two ecosystems. However, such a large unlock poses risks of increased volatility. Read more: Solana vs. Ethereum: Which Is Better? Polyhedra Network (ZKJ) – December 14 Source: Tokenomist Tokens Unlocked: 17.22 million Value: $19.8 million Percentage of Supply: 28.5% Known for its privacy-centric zkBridge, Polyhedra’s unlock could create selling pressure unless it showcases robust adoption for its zero-knowledge proof technology. Read more: Top Zero-Knowledge (ZK) Crypto Projects Arbitrum (ARB) – December 16 Source: Tokenomist Tokens Unlocked: 92.65 million ARB Value: $88.80 million Percentage of Supply: 2.33% Arbitrum will unlock 92.65 million ARB tokens on December 16, accounting for 2.33% of its total circulating supply. Valued at approximately $88.80 million, the unlocked tokens will be allocated to team members, future team members, advisors, and investors. This Layer-2 solution for Ethereum continues to focus on scalability and ecosystem expansion, which could offset potential price fluctuations caused by the token unlock. Read more: Top Ethereum Layer-2 Crypto Projects to Know Space ID (ID) – December 22 Source: Tokenomist Tokens Unlocked: 78.49 million Value: $35.1 million Percentage of Supply: 18% This unlock focuses on community expansion, aligning with Space ID’s goal of building decentralized identity solutions. Read more: Best Decentralized Identity (DID) Projects to Watch Immutable (IMX) – December 27 Source: Tokenomist Tokens Unlocked: 24.52 million Value: $30 million Percentage of Supply: 1.45% Immutable, a leader in NFT and blockchain gaming, will release tokens to strengthen its platform. This relatively small unlock is expected to have minimal market impact. Optimism (OP) – December 31 Source: Tokenomist Tokens Unlocked: 31.34 million OP Value: $75.85 million Percentage of Supply: 2.50% Optimism’s December 31 token unlock will release 31.34 million OP tokens, valued at $75.85 million. This represents 2.50% of the total circulating supply. The unlocked tokens will be distributed among investors and core contributors. As a leading Ethereum Layer-2 scaling solution, Optimism’s ongoing development and ecosystem activity may play a key role in mitigating the impact of this token unlock. What to Expect from December’s Token Unlocks Here’s how the token unlocks listed above could impact the crypto market in the coming weeks: Increased Volatility December’s large-scale token unlocks, especially cliff unlock events, are likely to introduce significant supply into the market. This influx may create downward price pressure, especially for tokens with weaker demand. However, projects like Cardano (ADA) and Aptos (APT), supported by strong fundamentals and active ecosystem growth, may mitigate the impact through sustained development and adoption. Opportunities for Strategic Entry For long-term investors, token unlocks can provide an opportunity to accumulate assets at discounted prices. Monitoring key developments such as project updates, new partnerships, and adoption rates will help identify tokens with growth potential. These factors can indicate whether the market is absorbing the increased supply effectively. Potential Market Leaders Projects with a clear vision, robust utility, and strong community backing are better equipped to handle the supply influx. Tokens like Jito (JTO), Sui (SUI), and Arbitrum (ARB) are positioned as potential winners due to their active ecosystems and innovative use cases. On the other hand, tokens with limited demand or underdeveloped ecosystems may struggle to maintain their value in the face of increased supply. Conclusion December 2024 marks a pivotal month for the crypto market, with $5.08 billion worth of tokens entering circulation. While token unlocks often result in increased volatility, they also offer strategic entry points for savvy investors. Staying informed and closely tracking market conditions will be essential to navigating this dynamic environment effectively. Stay updated on token unlocks and other market trends with KuCoin News.
U2U Network, a Layer 1 blockchain tailored for Decentralized Physical Infrastructure Networks (DePIN), has unveiled its inaugural airdrop campaign. This initiative aims to reward early supporters and active participants within the U2U ecosystem. The specific date for claiming the $U2U tokens will be announced soon, so participants are encouraged to stay updated through official channels. Quick Take U2U Network’s Airdrop Season 1 rewards early supporters with $U2U tokens for their contributions to the ecosystem. Claimable date for the $U2U airdrop tokens will be announced soon. The snapshot deadline for DePIN Alliance and U2DPN users is yet to be finalized—there’s still time to qualify. What Is U2U Network (U2U)? U2U Network is a DAG-based, EVM-compatible blockchain designed to provide infinite scalability, making it ideal for DePIN projects. By leveraging Subnet technology, U2U Network enables decentralized real-world applications to operate efficiently and securely. Source: U2U Network Key Features of U2U Network EVM Compatibility: Facilitates seamless onboarding of decentralized applications (dApps) onto the U2U Chain. Helios Consensus: Built atop a Directed Acyclic Graph (DAG), this consensus algorithm allows the network to handle up to 72,000 transactions per second (TPS) with a finality time of 650 milliseconds. U2U Subnet: Enables dApps to operate on modular subnets, reducing reliance on the mainnet and enhancing scalability. What Is the $U2U Token? $U2U is the native utility token of the U2U Network ecosystem, serving multiple functions: Staking Rewards: Validators earn $U2U tokens for securing the network. Transaction Fees: Used for transactions within the U2U Network. Governance: Empowers holders to participate in decentralized decision-making processes. $U2U Tokenomics Source: U2U Network docs The $U2U token is the native coin of the U2U Network, with a total supply of 10 billion tokens. A significant portion of the supply is allocated to support the network’s DePIN initiatives, particularly rewarding subnet node owners and operators. Reward Distribution for DePIN Subnet Nodes 10% of the total supply, equivalent to 1 billion $U2U tokens, is reserved as rewards for DePIN Subnet Node owners and operators. Distribution Plan: Year 2: 500 million $U2U distributed, reaching 500 million accumulated rewards. Year 4: 250 million $U2U distributed, totaling 750 million rewards. Year 6: 125 million $U2U distributed, reaching 875 million accumulated rewards. Year 8: 62.5 million $U2U distributed, totaling 937.5 million rewards. Year 10: 31.25 million $U2U distributed, reaching 968.75 million accumulated rewards. Year 12: 15.63 million $U2U distributed, totaling 984.38 million rewards. Year 14: 7.81 million $U2U distributed, reaching 992.19 million accumulated rewards. Year 16: 3.91 million $U2U distributed, totaling 996.09 million rewards. Year 18: 1.95 million $U2U distributed, reaching 998.05 million accumulated rewards. Year 20: 976,563 $U2U distributed, totaling 999.02 million rewards. Beyond Year 20: Distribution continues to decrease, gradually nearing the 1 billion $U2U allocation cap. How to Participate in the U2U Airdrop To participate in the U2U airdrop, start by verifying your eligibility based on the outlined criteria. Stay updated by monitoring official U2U Network channels for the announcement of the claim date. Once the airdrop claim date is revealed, follow the provided instructions to claim your $U2U tokens. Who Is Eligible for the U2U Network Airdrop? Solar Adventure Participants: Users who have collected the full set of 8 Planet NFTs—Venus, Mars, Neptune, Uranus, Earth, Mercury, AZ, and Jupiter—through the Solar Adventure are eligible for the airdrop. "We Are Not Human" Campaign Contributors: Participants who earned all 12 OATs in the collaborative "We Are Not Human" Galxe campaign, which involved partners like io.net and GaiaNet, qualify for rewards. DePIN Alliance App Users: Users who have reached Level 25 or higher by completing tasks such as connecting X accounts and joining the U2U Telegram group are eligible. U2DPN Users: Participants who have generated at least one session, linked their mainnet wallet, and completed a token withdrawal in the U2DPN app qualify for the airdrop. Why Participate in the U2U Airdrop? Source: U2U Network blog This $U2U airdrop offers early supporters a unique opportunity to become integral members of the U2U Network ecosystem. By participating, you gain access to the network's innovative DePIN solutions and contribute to the growth of a decentralized future. Closing Thoughts The "Catch The Wave: U2U Network’s Airdrop Season 1" marks a significant milestone in U2U Network's mission to enhance blockchain scalability and real-world application integration. Participants are advised to stay tuned for updates on the claim date and to engage with the U2U community through official channels. Read more: XION “Believe in Something” Airdrop, with 10 Million $XION Tokens to Claim
Bitcoin is currently priced at $97,185 with +0.82% increase from the last 24 hours, while Ethereum is at $3,708, up by +0.14% in the past 24 hours. The market's 24-hour long/short ratio in the futures market was almost balanced at 50.3% long versus 49.7% short positions. The Fear and Greed Index, which measures market sentiment, was at 81 yesterday and is at the Extreme Greed level at 80 today. Today in crypto, Ripple’s XRP overtakes Solana’s market cap, NFTs surge by 57.8% in monthly sales for November as digital collectibles regain momentum and surged to $562 million in sales, and Bitcoin achieves an unprecedented $26,400 price gain in a single monthly candle. These records highlight the growing strength of blockchain markets.The crypto market is surging with milestones across trading, DeFi, and blockchain innovation. What’s Trending in the Crypto Community? Ethereum Foundation researcher: Ethereum L1 will gradually improve in the future, with significant performance enhancements for L2 within months Ethereum price rebound drives NFT market recovery, with November NFT sales reaching a six-month high at $562 million. Pump.fun has generated $368 million in total fee revenue since launch, with a total of 4,038,775 tokens deployed. Crypto Fear & Greed Index | Source: Alternative.me Trending Tokens of the Day Top 24-Hour Performers Trading Pair 24H Change XRP/USDT +26.11% AIOZ/USDT +16.55% HBAR/USDT +44.65% Trade now on KuCoin Read More: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025 Bitcoin’s Historic $26,400 Monthly Gain BTC/USD 1-month chart. Source: Cointelegraph/TradingView Bitcoin posted a record-breaking gain of $26,400 in November. It closed the month at $96,400. This 37% surge marked its second-best month of 2024. Daily trading volumes exceeded $42 billion and peaked at $55 billion on November 30. Bitcoin dominance rose to 54.7% from 52% at the start of the month. Bitcoin futures open interest climbed to $63 billion from $50 billion in October. This reflects rising institutional confidence. Analysts identified $98,500 as a key resistance level. Breaking this point could push Bitcoin above $100,000. Read more: The History of Bitcoin Bull Runs and Crypto Market Cycles Source: Carl Menger on X Over 9 million new wallets were created in November. The month’s rally is driven by regulatory optimism and growing adoption. Analysts predict Bitcoin could hit $100,000 by year-end. Read more: A Beginner’s Guide to Buying Your First Bitcoin on KuCoin BTC/USD monthly % gains (screenshot). Source: CoinGlass XRP Overtakes Solana with $122 Billion Market Cap Cryptocurrency rankings by market cap. Source: CoinMarketCap Ripple’s XRP reached a market cap of $122 billion on December 1, surpassing Solana’s $111.9 billion to become the fourth-largest cryptocurrency. XRP gained 79% from October’s $1.22 low to hit $2.19. This is its highest price in seven years. Ripple secured three partnerships with financial institutions managing over $400 billion in assets. Investors expect approval of an XRP ETF in the U.S. and Ripple's RLUSD stablecoin in New York. Daily XRP trading volume surged to $7.3 billion on December 1 from a $4.1 billion average in October. Active wallet addresses rose 45% to 1.8 million. While Solana dropped to fifth place, it held $9.2 billion in total value locked (TVL). Solana’s DEXs hit $100 billion in trading volume, driven by renewed memecoin activity. Read more: Will Gensler's Resignation Propel an XRP Rally as Bitcoin Nears $100K? NFT Sales Reach $562 Million in November NFT sales volume from May to December 2024. Source: CryptoSlam NFT sales reached $562 million in November. This is a 57.8% increase from October’s $356 million. It is the highest monthly sales volume since May’s $599 million. Total NFT sales for 2024 now exceed $4.9 billion. CryptoPunks led the market recovery. Its floor price rose from 26.3 ETH ($97,000) on November 1 to 39.7 ETH ($147,000) by November 30. This marks a 51% gain. Bored Ape Yacht Club saw a 42% rise in average sale price. Azuki NFTs increased 38%. OpenSea and Blur recorded $1.8 billion in combined trading volume. Blur accounted for 58% of this activity with aggressive incentives. Unique buyers reached 732,000 in November, up from 611,000 in October. Active wallets rose by 34% to 1.2 million. Despite gains, the NFT market remains below its March peak of $1.6 billion. Analysts link the recovery to broader crypto market momentum and rising interest in premium collections. Read more: Magic Eden (ME) Airdrop Eligibility and Listing Details to Know Conclusion November was a historic month for crypto. Bitcoin gained $26,400 setting a new monthly record. XRP rose to $122 billion in market cap, overtaking Solana. NFTs hit $562 million in sales showcasing renewed interest in digital assets. As December begins markets prepare for Bitcoin’s push toward $100,000 XRP’s ETF approval prospects and further NFT growth. Blockchain innovation and adoption continue to redefine financial markets. Read more: XION “Believe in Something” Airdrop, with 10 Million $XION Tokens to Claim
TapSwap, a leading Telegram-based game, engages almost 7 million monthly active users with daily opportunities to earn valuable rewards. Players can collect 400,000 coins per task by entering secret video codes, boosting their in-game earnings and preparing for the much-anticipated TapSwap airdrop and Token Generation Event (TGE) set for Q4 2024. Quick Take Earn up to 400,000 coins daily by completing each video task. Use today’s video codes to maximize your rewards. TapSwap introduces a skill-based gaming platform with $TAPS token rewards, shifting away from traditional tap-to-earn games. The platform’s sustainability model emphasizes rewarding skill over chance, ensuring long-term engagement. TapSwap Secret Video Codes Today, November 29 Unlock up to 2.4 million coins by using the following video codes in today’s TapSwap tasks: Fan Token Secrets Part 3Answer: 2AsQi Fan TokensAnswer: 7dW$# Texas Considers Bitcoin ReserveAnswer: KA5Q4 Made $1,000 From SpotifyAnswer: 52mo Profit From AlibabaAnswer: 96v2 Turn Your Art Into CashAnswer: 4lo4 Earn 2.4M TapSwap Coins with Secret Video Codes Daily Open the TapSwap Telegram mini-app. Navigate to the “Task” section and select “Cinema” to access video tasks. Watch each video and enter the secret codes in the designated fields. Click “Finish Mission” to claim your rewards. TapSwap’s Updated Skill-Based Gaming Platform TapSwap is revolutionizing Web3 gaming by rewarding players for their skills rather than relying on chance or pay-to-win mechanics. Using its native token, TAPS, the platform offers a fair and transparent monetization system where players can compete in skill-based games by paying a token entry fee. The upcoming Token Generation Event (TGE) will further enhance earning opportunities. TapSwap’s user-friendly interface includes features like games, leaderboards, and achievements. To help players improve, the platform also offers a training mode that allows users to practice without financial risk. Initially focusing on proprietary games, TapSwap plans to onboard third-party developers by 2025, introducing a profit-sharing model to ensure a steady flow of high-quality content while fostering a thriving ecosystem. Drawing inspiration from Web2 platforms like Skillz, which has 3.2 million monthly users, TapSwap aims to achieve 5 million monthly active users and $500 million in projected revenue. With over 6 million social media followers, the TapSwap community is growing rapidly, demonstrating strong interest as the platform approaches key milestones. Led by founder Naz Ventura, the team has worked to stabilize the TAPS token value, addressing issues of volatility seen in traditional tap-to-earn models. By prioritizing skill-based monetization and sustainability, TapSwap is building a loyal, engaged player base while redefining the gaming landscape. Conclusion TapSwap’s Web3 platform is a game-changer, combining skill-based rewards with a developer-friendly ecosystem. Its innovative approach drives sustainable growth, rewarding players for their abilities rather than relying on chance. With the TGE on the horizon and daily opportunities for engagement, TapSwap stands out as a leader in the Web3 gaming space. Stay connected for updates and join the vibrant community to help redefine the future of gaming! Read more: TapSwap Daily Video Codes for November 28, 2024
XION, the pioneering walletless Layer 1 blockchain, has unveiled its "Believe in Something" airdrop, distributing up to 5% of its total $XION token supply to early supporters and community members. This initiative honors those who have steadfastly believed in XION's mission to make Web3 accessible to all. Quick Take Total airdrop allocation of 10,000,000 $XION tokens, representing 5% of the total supply. 69% of the airdrop is designated for the XION community, including testnet users, builders, and active Discord participants. 31% of the airdrop acknowledges contributors from over 10 ecosystems, such as SPX6900, Gigachad, Based Brett token holders, Mocaverse’s MocaID participants, and Berachain NFT holders. What Is XION (XION)? XION is the first walletless Layer 1 blockchain designed for mainstream adoption, aiming to eliminate technical barriers and provide seamless Web3 experiences for all users. By leveraging chain abstraction, XION enables developers to build intuitive applications that cater to both crypto-native and non-crypto users alike. What Is the XION Airdrop, “Believe in Something”? Source: XION blog The XION airdrop, titled "Believe in Something: The First Spark," is a token distribution campaign celebrating early supporters of the XION ecosystem. With a total allocation of 10 million $XION tokens (5% of the total supply), this airdrop aims to reward individuals and communities that demonstrated belief in XION's mission to make Web3 accessible to everyone. This initiative not only recognizes active contributors within the XION community but also extends gratitude to participants from partner ecosystems who share XION's vision for a decentralized future. XION (XION) is now available for pre-market trading on KuCoin. Trade $XION early to secure your position in the ecosystem and gain insight into $XION prices ahead of the official spot market launch. When Is the XION Airdrop? To ensure a fair distribution, multiple snapshots were taken throughout the year, notably on March 6 and July 15, 2024. This method captured a diverse array of contributors, with thorough analyses of both on-chain and off-chain data to assess genuine engagement. Key Dates to Remember Snapshots Taken: March 6, 2024, and July 15, 2024These snapshots recorded the activity and contributions of eligible users across multiple ecosystems. Airdrop Checker Launch: November 12, 2024The eligibility checker is live at XION Airdrop Checker, allowing users to verify their participation. Mainnet Launch: Expected in late December 2024Eligible users can claim their $XION tokens once the XION mainnet goes live. Who Is Eligible for the $XION Airdrop? XION Community Members: Active testnet users, builders, and Discord members who have significantly contributed to the ecosystem. Partner Ecosystem Participants: Individuals holding specific tokens or NFTs from partner communities, with eligibility determined by holding durations and engagement levels. How to Participate in the XION Airdrop Verify Eligibility: Visit the XION Airdrop Checker. Enter your wallet address or connect your Discord account to check your eligibility. Understand the Criteria: Eligibility is based on your engagement with the XION ecosystem or partner communities. Testnet participants, token holders from specific projects, and active community members are included. Prepare for Claiming: Ensure your wallet is ready for the mainnet launch. Wallets connected during the testnet phase may not need to relink. Eligible participants can claim their tokens directly via the XION platform after the mainnet goes live. Participate in Staking and Governance: Once claimed, $XION tokens can be staked to earn rewards or used for governance decisions, further supporting the ecosystem. $XION Tokenomics: Empowering Web3 Adoption The $XION token drives the XION ecosystem, supporting network operations, governance, and rewards. With a total supply of 200 million tokens, its distribution ensures sustainable growth and community empowerment. The XION token utility includes: Network Fees: Power walletless transactions. Staking Rewards: Secure the network and earn incentives. Governance Rights: Vote on protocol upgrades and decisions. Ecosystem Utility: Medium of exchange and liquidity support. Token Allocation XION token allocation | Source: XION blog Community & Ecosystem (69%): Active Rewards (22.5%): For testnet users and active contributors. Ecosystem Growth (15.2%): Grants for developers and creators. Airdrop (12.5%): 10 million tokens for the "Believe in Something" initiative. Builders & Partners (19.8%): For projects scaling in the ecosystem. Contributors (26.2%): Reserved for the team, advisors, and contractors, with vesting periods. Strategic Participants (23.6%): Tokens for early investors, subject to lock-ups. Tokens are released gradually over four years to ensure stability, decentralization, and sustainable growth, aligning with XION’s mission to make Web3 accessible for all. Closing Thoughts The XION airdrop marks a significant milestone in the project’s journey to make Web3 accessible and user-friendly. By rewarding early believers and contributors, XION reinforces its mission of fostering a decentralized, inclusive ecosystem. The "Believe in Something" initiative not only acknowledges the project’s dedicated community but also sets the stage for its highly anticipated mainnet launch. As you prepare to claim your $XION tokens, ensure you follow official channels to avoid scams and fraudulent activities. Remember, participating in any crypto-related event involves risks. Token values can be highly volatile, and market conditions may impact their future performance. Always evaluate your risk tolerance and conduct thorough research before engaging with digital assets. Read more: Magic Eden (ME) Airdrop Eligibility and Listing Details to Know
Movement Network, an Ethereum Layer 2 solution, has announced its highly anticipated $MOVE token airdrop, “MoveDrop.” The program, designed to reward early users and contributors, will distribute 10% of the total $MOVE token supply—equivalent to 1 billion tokens—across eligible participants. Registration is open until December 2, 2024, and participants can claim their rewards after the Token Generation Event (TGE), the date for which is yet to be announced. Quick Take 1 billion $MOVE tokens (10% of total supply) allocated via MoveDrop airdrop campaign for early users and community members. The snapshot for the MOVE airdrop was taken on November 23, 2024, while the registration for the airdrop ends on December 2, 2024 at 2 PM UTC. Users can claim on Ethereum Mainnet or wait to claim on the Movement Network Mainnet for a 1.25x bonus. What Is Movement Network? Movement Network is a next-generation Ethereum Layer 2 blockchain built on the Move programming language. It enhances Ethereum with high transaction throughput, superior security, and near-instant finality. With over 200 teams building on its testnet, Movement Network is poised to redefine blockchain scalability and security. Key Features of Movement Network Move Programming Language: Offers unparalleled security and efficiency for developers. Public Mainnet: Launching soon, settling transactions directly on Ethereum. Cross-Ecosystem Growth: Bridging Ethereum’s ecosystem with Move’s innovative features. What Is the $MOVE Token? $MOVE is the native utility token of the Movement Network ecosystem. Represented as an ERC-20 token on Ethereum, it will also power the Movement Network’s native blockchain upon Mainnet launch. Movement (MOVE) Token Utility Staking Rewards: Validators earn $MOVE for securing the network. Gas Fees: Used for transactions on Movement Network. Governance: Enables decentralized decision-making. Collateral and Payments: Powers native Movement Network applications. Movement (MOVE) is now available for pre-market trading on KuCoin. Trade early to secure your position and preview $MOVE prices before the official launch. $MOVE Tokenomics MOVE token allocation: Source: Movement blog Maximum Supply: 10 billion tokens Community Allocation: 60% reserved for ecosystem and community initiatives. Initial Circulation: ~22% of tokens available post-TGE. Who Is Eligible for the Movement (MOVE) Airdrop? The MoveDrop program rewards early contributors through several initiatives: Road to Parthenon: Participants who completed transactions or quests on Movement Testnet are eligible. Rewards are based on transaction count (up to 300) and quest completions. Anti-sybil measures apply. Battle of Olympus: Hackathon winners and runners-up who contributed to the Movement ecosystem will receive allocations. Gmove Campaign: Randomly selected users who tweeted “gmove” and participated in the #gmovechallenge will receive rewards. Selected Communities: Key contributors from Discord roles, ambassador programs, and other groups are eligible. Testnet Builders: Teams that built on Movement Testnet will receive allocations based on their contributions. How to Register for MoveDrop To claim your $MOVE tokens, follow these steps: Check Eligibility: Ensure your wallet is eligible based on the November 23 snapshot. Register on MoveDrop Website: Visit the MoveDrop official website to register before December 2, 2024. Claim Tokens: Claim on Ethereum Mainnet after MOVE TGE. Wait for Movement Mainnet launch to claim a 1.25x bonus. Why Join the MoveDrop? Movement Network’s MoveDrop offers unparalleled opportunities for early adopters: Generous Allocation: A 10% initial airdrop allocation rewards loyal users. Bonus Claim: Mainnet claim offers a 1.25x multiplier. Strategic Utility: $MOVE token’s staking, governance, and transaction functionalities ensure long-term value. When Is the Movement (MOVE) Airdrop? The snapshot for eligibility was taken on November 23, 2024. Registration for the airdrop is open until December 2, 2024, at 2 PM UTC. Participants can claim their tokens following the upcoming Token Generation Event (TGE), with the exact date to be announced. For the latest updates, please refer to official Movement Network channels. Closing Thoughts The MoveDrop airdrop represents a significant milestone in Movement Network’s efforts to improve Ethereum scalability and security. It provides early adopters with an opportunity to claim $MOVE tokens and actively participate in shaping a decentralized and efficient Layer 2 ecosystem. However, as with any blockchain project, participation involves risks, including market volatility and potential security concerns. Always verify details through official Movement Network channels and exercise caution when interacting with third-party platforms. Read more: Magic Eden (ME) Airdrop Eligibility and Listing Details to Know
Bitcoin is currently priced at $95,642 with -0.22% decrease from the last 24 hours, while Ethereum is at $3,579, down by -2.04% in the past 24 hours. The market's 24-hour long/short ratio in the futures market was almost balanced at 49.8% long versus 50.2% short positions. The Fear and Greed Index, which measures market sentiment, was at 77 yesterday and is at the Extreme Greed level at 78 today. The crypto market is surging with milestones across trading, DeFi, and blockchain innovation. Bitcoin futures open interest has reached $60.9 billion, reflecting a 56% surge driven by post-election optimism and heightened institutional demand on platforms like CME. Recent market data shows robust trading volume, emphasizing Bitcoin's growing appeal in regulated financial markets. Ethereum maintained its upward momentum with a 5% weekly gain, supported by $90.1 million in ETF inflows and a 17.8% rise in the ETH/BTC ratio, indicating strengthened investor confidence. Uniswap recorded $38 billion in Layer 2 trading volume, a 12% increase since March, showcasing the rising popularity of efficient scaling solutions. Additionally, Bleap secured $2.3 million in funding to launch a payment app offering 13.2% APY on stablecoins and 2% cashback, highlighting innovation in decentralized finance. What’s Trending in the Crypto Community? BTC and ETH options contracts worth approximately $10.85 billion are set to expire. TON launched TON Teleport BTC, aiming to integrate Bitcoin liquidity with the TON ecosystem. Uniswap reached a new monthly trading volume high of $38 billion. Crypto Fear & Greed Index | Source: Alternative.me Trending Tokens of the Day Top 24-Hour Performers Trading Pair 24H Change ALGO/USDT +23% SAND/USDT +12.5% WLD/USDT +10.82% Trade now on KuCoin Read More: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025 Bitcoin Futures Boom $60.9 Billion Following Trump Victory Bitcoin futures open interest has surged since Donald Trump won the U.S. presidential election | Source: Coinglass Since Donald Trump’s election victory on Nov. 5, Bitcoin futures open interest has surged from $39 billion to $60.9 billion. This represents a 56% increase in less than a month, according to Coinglass. The derivatives market has seen record activity, with many traders leveraging positions to capitalize on expected price movements. Bitfinex analysts describe this growth as organic. They attribute it to market optimism surrounding Trump’s crypto-friendly policies. Significant trading activity occurred near the $94,000 mark, where large sitting orders were filled. Analysts observed a slight reduction in open interest as of Nov. 22 but consider this a normal pullback rather than a sign of market instability. Bitcoin futures continue to dominate the market. Futures trading volume exceeded $100 billion in the last seven days, with 40% of trades occurring on Binance. Open interest now accounts for over 30% of Bitcoin’s $580 billion market capitalization, signaling significant trader interest. Ethereum Outperforms Bitcoin as ETH/BTC Ratio Rises 17.8% Source: ETH ETF Flows The Block Ethereum surged 5% on Nov. 27, reaching $3,600. The ETH/BTC pair climbed 17.8% over the past week to 0.0376. Analysts at QCP Capital predict further gains, with ETH likely to test the 0.04 level soon. This growth signals a capital rotation from Bitcoin to Ethereum, reflecting investor confidence in the Ethereum ecosystem. Ethereum exchange-traded funds attracted $90.1 million in inflows on Nov. 27. This marked the fourth consecutive day of positive inflows, totaling $317.4 million for the month. The rising demand for ETH-based ETFs highlights renewed interest in Ethereum. Analysts project that ETH could retest its all-time high of $4,868, offering a 35.4% upside from current levels. The global cryptocurrency market cap now stands at $3.4 trillion. Bitcoin accounts for 54.7%, while Ethereum holds 12.4%. ETH trading volume reached $28.5 billion in the last 24 hours, compared to Bitcoin’s $47 billion. Ethereum’s growing dominance is driven by its expanding ecosystem and increased adoption in decentralized finance and NFTs. Uniswap Hits Record $38 Billion Layer 2 Volume Uniswap saw record monthly volume in November across Ethereum L2s. Source: Dune Analytics Uniswap recorded $38 billion in monthly volume across Ethereum Layer 2 networks in November, surpassing its previous high of $34 billion set in March. This represents a 12% increase, according to Dune Analytics. Layer 2 networks, including Arbitrum, Polygon, Base, and Optimism, contributed significantly to this growth. Henrik Andersson, CIO at Apollo Crypto, attributed the rise in Uniswap’s volume to growing onchain yields and increased interest in decentralized finance. Ethereum-based DeFi platforms have seen a surge in activity as ETH/BTC gains strength. Analysts believe this could mark the beginning of a long-awaited DeFi outperformance phase. Uniswap accounted for 62% of all Ethereum Layer 2 decentralized exchange volume in November. Arbitrum contributed $18 billion to this figure, while Optimism added $8.5 billion. Base and Polygon combined for $5.5 billion. This growth underscores the growing demand for efficient and cost-effective DeFi solutions. Bleap Plans to Develop Blockchain Payments with Gasless Transactions Bleap, created by former Revolut executives, raised $2.3 million in pre-seed funding to develop a blockchain-based payment system. Built on the Arbitrum Layer 2 network, Bleap enables gasless transactions and integrates a Mastercard debit card for seamless stablecoin payments. Bleap supports multi-currency accounts with savings rates far exceeding traditional banks. Users can earn 13.2% APY on USD stablecoins and 5.3% APY on EUR stablecoins. The app also allows fee-free global transfers and offers 2% cashback on purchases. Bleap’s smart wallet eliminates seed phrases by using encrypted backups and multi-party computation. It supports stablecoins like USDC, USDT, USDA, and EURA. Users can add funds from external wallets or purchase stablecoins directly through Bleap’s on and off-ramping service. In the first half of 2024, stablecoins processed $5.1 trillion in transactions, approaching Visa’s $6.5 trillion over the same period. Analysts at Bitwise highlight stablecoins as crypto’s “killer use case.” Bleap’s system integrates this functionality with seamless real-world usability. Bleap’s beta program targets EU users, with a full public launch planned for Q1 2025. The app aims to expand into Latin America later in the year. Bleap is also preparing for a proprietary token launch in 2026, which will further enhance its ecosystem. Conclusion The cryptocurrency market is surging with activity. Bitcoin futures show record open interest, reflecting trader optimism fueled by Trump’s election. Ethereum is gaining ground, outpacing Bitcoin with rising ETF inflows and a strong ETH/BTC ratio. Uniswap’s record Layer 2 volumes highlight DeFi’s resurgence, while Bleap’s innovative blockchain banking platform sets new standards for usability. These developments underscore the rapid evolution of the crypto space, offering investors opportunities across trading, DeFi, and blockchain-based financial solutions. Read more: Magic Eden (ME) Airdrop Eligibility and Listing Details to Know