The cryptocurrency sector's valuation reached the $3.6 trillion level on Thursday, marking $252 billion worth of inflows since the market crash ended on Tuesday. In the past 24 hours, 85,893 traders were liquidated, bringing the total amount liquidated to $204.96 million. BlackRock’s Ethereum ETF set a new record with 16 consecutive days of net inflows.
Altcoin market update: XRP, BNB rise as traders bet on Fed's third consecutive interest rate cut
As the geopolitical crisis over the fall of Syria's Assad regime subsides this week, dovish numbers in the latest US Consumer Price Index (CPI) statistics boost investor optimism across crypto markets. Ta.
Bitcoin price remains solid above the $100,000 level, Ripple (XRP) breaks through the $2.40 resistance, but a resurgence in trading activity pushes Binance Coin (BNB) to the $725 level on Friday. broke through.
Binance Coin (BNB) price rose 2.5% on Friday, marking the best performance among the top 10 crypto assets.
Binance Coin (BNB) price trend, December 13, 2024.
BNB’s price rally on Friday broke through the $725 resistance level for the first time in five days, indicating that trading activity in the retail-based market on Binance is recovering from a sudden downward trend at the beginning of the week.
Ripple (XRP) price also rebounded 2% on Friday, regaining the $2.40 level.
XRP price hit an all-time high at the $2.91 level on last week's rally, with a new push to break through the $3 region as the newly approved RLUSD stablecoin will boost ecosystem liquidity and network demand. Looks like they're ready for a big try.
Chart of the Day: BlackRock Ethereum ETF records $1.5 billion in inflows in less than a month
U.S.-based corporate investors have increased demand for Ethereum ETFs since Donald Trump appointed crypto-friendly Paul Atkins to replace Gary Gensler in late November.
On Thursday, BlackRock's iShares Ethereum Trust (ETHA) set a new record with 16 consecutive days of net inflows.
BlackRock iShares Ethereum Trust (ETHA) Net Inflows | Source: SosoValue
According to the SosoValue chart above, $200 million in inflows were recorded on Thursday, bringing total inflows since November 20th to $1.5 billion.
Before this buying spree, BlackRock's Ethereum ETF had amassed just $1.7 billion since its inception in July.
The $3.6 billion fund is currently capitalizing on recent investor momentum post-election to position itself as the leader in the Ethereum ETF market.
Bitcoin has consistently dominated Wall Street's attention through spot ETFs launched earlier this year, but Ethereum products are now catching up, with fairer regulation of altcoins by the incoming SEC administration led by Paul Atkins. This suggests that institutional expectations for the future are increasing.
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Inclusion in the NASDAQ-100 could boost MicroStrategy's stock price and profile.
NASDAQ is scheduled to announce its annual NASDAQ-100 reconstitution today, and MicroStrategy has emerged as a potential addition.
The index does not include financial companies, so their inclusion is dependent on their classification as technology companies.
Even though MicroStrategy's valuation is heavily dependent on its Bitcoin holdings, its status as a software company strengthens its eligibility for inclusion.
If this were added, NASDAQ-100-tracking ETFs such as iShares QQQ Trust would have to buy MicroStrategy stock, potentially significantly increasing demand.
Bloomberg analyst James Seifert estimates the initial ETF net purchase amount will be $2.1 billion, which could boost the company's stock price and visibility.
MicroStrategy stock is already up 2.5% on expectations and trading above $400.
BiT Global takes legal action against Coinbase over wBTC delisting
BiT Global has filed a lawsuit against Coinbase, alleging that the exchange unfairly delisted Wrapped Bitcoin (wBTC) in order to promote its own product, Coinbase Wrapped Bitcoin (cbBTC).
The lawsuit accuses Coinbase of using antitrust practices to control the wrapped Bitcoin market, citing misleading claims about wBTC's compliance with listing standards.
This comes after Coinbase recently listed meme coins such as PEPE, WIF, and MOG, contradicting its rationale for removing wBTC.
The complaint highlights that Coinbase's decision to delist wBTC in favor of non-traditional assets is indicative of market manipulation.
BiT Global claims that this move was designed to eliminate competition for cbBTC.
The lawsuit seeks more than $1 billion in damages and seeks injunctive relief to protect the wrapped Bitcoin ecosystem from further harm.
CHILLGUY creator's account allegedly hacked during controversial IP announcement
CHILLGUY creator Philip Banks is at the center of speculation after it was announced in a tweet from his account that he would grant intellectual property (IP) rights to the CHILLGUY token team.
The unexpected post caused the token's value to soar by 30%, but then plummeted as word spread that the account had been compromised.
Adding to the suspicions, Banks' account is linked to the launch of a meme coin on Pump.fun featuring another character, Philb, whose market capitalization soared to $1 million before collapsing. did.
In response, CHILLGUY's official X account issued a warning, urging followers to be careful and avoid unverified solicitations.
This announcement also contradicts Banks' previous intention to remove unauthorized use of CHILLGUY, further heightening concerns.
Although the token initially saw gains, the situation turned cloudy due to links to potential account hacks and phishing scams, leaving investors worried.
