What happened in crypto the past 3 weeks? Bitcoin is teasing us with the $100K level. The altcoin season is here. What else? Read below:
- Bitcoin: As I write, Bitcoin went above $100K, again. Pantera Capital started to tell us about $500K in the next 4 years. MicroStrategy has invested an additional $5.4B to acquire another 55.500 BTC at the average price of $97K, and they own now 386.700 BTC worth more than $21B. On a smaller scale, Bitcoin miner MARA acquired $615M worth of BTC. Others, like Semler Scientific, followed MicroStrategy's move and purchased an additional 303 BTC, with a total holding of 1873 coins. Bitcoin miner IREN shares soared nearly 30% after they hinted potential partnership with an AI firm and BTC dividends. The US government moved $2B in seized Silk Road BTC to the cryptocurrency exchange Coinbase Prime. The Chair of the Federal Reserve, Jerome Powell, said that Bitcoin is just like Gold, but virtual. Exchanges dropped to a historic low, with less than 2.5M BTC left available for trading. It seems that the investors are quietly moving their BTC off exchanges. Long-term Bitcoin holders just made 4x profits. Even when Mt.Gox moved 27K of BTC worth $2.8B, the market barely flinched.
- Ethereum: One week ago, Bitcoin ETFs faced $438M in outflows, as ETH ETFs gained $2.8M. With BTC at $100K, event Ethereum went all the way to $4K too. Base and Arbitrum are quite active lately.
Altcoins and stablecoins: We are experiencing a massive surge in altcoins performance. A Lisk airdrop is ongoing, with 83 days remaining to climb up the leatherboard (feel free to use my referral 0fRpWD if needed). You can use Velodrome for the daily transactions. I did have some fun with Intract, where you do quests for NFT and even win some crypto in contests. I do not know if I was just lucky, but I did get some juicy rewards. Binance launched a reward-bearing margin asset called BFUSD. Stablecoins trading volume surged by 77%, up to $1.81 trillion. I do not understand how, but XRP surged past Solana's market cap in a leverage-driven price pump. This is a zombie token, in my opinion, yet it is still making people invest in it! Wisdom Tree filed to list spot XRP ETF. Privacy coins such as Railgun, Zcash and Dash all went up 36%,26% and 11%. Even Shiba Inu hit a price not seen since last summer. MOG coin surged 20% after being added to the Coinbase's listing roadmap. Dogecoin jumped another 9%. Keep an eye on HYPE, the Hyperliquid's token.
NFTs and blockchain games: On Splinterlands, we are getting ready for a new card collection, with some cool summoners that are now auction-only, yet it seems quite expensive. Check my Holozing article to learn about a new blockchain game that looks full of potential. I am also playing Golemancer on Hive, and it is quite profitable, I would say, with some great updates lately.
Good news: Cryptocurrency trading volume hit a new all-time high in November, a record $10 trillion. Kucoin has a brilliant referral program if you are good at this stuff. South Korea postponed the 20% crypto tax implementation, with a two-year delay. Coinbase has integrated Apple Pay into its onramp app services. Donald Trump has appointed David Sacks, former COO of PayPal, as the White House's new AI and cryptocurrency czar. Yet, the former Treasury secretary called Trump's idea of a strategic BTC reserve as crazy. Paul Atkins is picked to lead the SEC.
Bad news: Justin Sun becomes the largest investor in Donald Trump's World cryptocurrency project Liberty Financial. Russia classified crypto as property and imposed a 13% to 15% tax on crypto sales. It appears that Meta's stablecoin project was a political kill as the US government was concerned about the potential concentration of economic power and the potential for the political backlash, while the Federal Reserve pressured participating banks to abandon the project. That's America for you! At the same time, over 30 tech and crypto founders found themselves cut off from basic banking services, you guessed right, in the United States, of course.
Joke of the week: MiCA regulations (Markets in Crypto-Assets) make its first victims in Europe. Tether axed its Euro-pegged stablecoin, EURT, ahead of MiCA regulations implementation. Circle successfully fulfilled the regulatory requirements for its own stablecoin, called EURC. Coinbase dropped the USDC yield in Europe to comply with MiCA. Tether's total market capitalization is 10.5%, with a market dominance of 69.9%, while USDC rose to 12.1%, its highest since February. The stablecoin pairs trading volume rose 77%. I have always found USDT a bit dodgy, and I believe that if there is a chance for all crypto to die, Tether will be responsible for that. Seeing them dominating the market tends to worry me.
All the best,
George
Why not...
...have fun and win rewards on my favourite blockchain games (Splinterlands- Hearthstone-like card game) (Mobox - GamiFI NFT platform) (Upland - real-life virtual land) (Holozing - Pokemon-like game)and (Rising Star - Music creators game)
....get ETH while writing on the Publish0x blog, using the Presearch search engine to maximize your income with PRE tokens. Use Torum instead of Twitter. I am also writing for crypto on Grill and Hive.