A weekly digest of the news that matters
Last week the cryptocurrency market was characterized by significant bullish trends and notable gains across various assets. Bitcoin experienced a strong rally early in the week, breaking the $42k resistance and touching a high of $45,000 resistance, consolidating around $43.5k. Ethereum mirrored this upward movement, breaking past the $2,000 mark and continuing its bullish streak, although it faced mixed signals from oscillators. Altcoins also witnessed substantial activity, with Cardana (ADA) and DOGE experiencing surges over 10% on Wednesday. Polygon (MATIC) and Solana (SOL) initially fell but later recovered, with SOL soaring 19%. The market was buoyed by meme coins like BONK, PEPE, and SHIB, leading to a significant increase in their collective market value.
Ocean Pool’s decision to exclude certain transactions from its Bitcoin mining pool has ignited a debate in the community over censorship and economic rationality.
Vaneck’s 15 crypto predictions for 2024 include a U.S. recession, SEC approval of spot bitcoin ETFs, and a significant Bitcoin rally influenced by the presidential election.
Franklin Templeton, a trillion-dollar asset manager, acknowledges strong demand for Bitcoin and supports the idea of Bitcoin ETFs for more efficient client access.
Bitcoin’s market capitalization surpassed Meta and Berkshire Hathaway as its price exceeded $44,000, with a recent surge in trading volume.
Early December saw a 57% surge in NFT sales, with Bitcoin NFTs outperforming Ethereum and shifts in the rankings of iconic NFT collections.
ORDI, a BRC20 token on the Bitcoin network, reached a $1 billion market cap with a 676% increase in a month.
A U.S. court accused the SEC of making false representations in a case against a crypto firm, threatening sanctions and questioning the regulator’s conduct.
A plea deal between Binance’s CZ and the U.S. government has been approved, with sentencing scheduled for February 2024, including potential prison time and fines.
A Bybit study found that institutional traders nearly doubled their Bitcoin holdings from under 40% to nearly 50% by September 2023.
Farzam Ehsani states that institutional traders generate most of Africa’s crypto trading volumes, with significant progress in regional crypto regulation and market understanding.
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