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BitWise Investment Crypto Market Recap | Dec 31 2024 – Jan 6 2025

While everyone is watching the price of Bitcoin rise and fall in 2025, Ethereum is busy setting new records with ETFs. Let’s analyze the most significant tales from this year’s crypto frenzy and determine their implications for the future of digital assets.

Ethereum ETFs Attract Record Investments

Ether

The verdict is in: Ethereum is the investment of choice for those in the know.

  • December saw the largest influx of $2.1 billion into Ethereum ETFs since May.
    This increase in investment shows that people are becoming more optimistic about Ethereum’s long-term prospects and standing as a top digital asset.
    ETFs’ improved accessibility to Ethereum is probably helping it become more widely used and drawing in a larger pool of investors.
    This investment could strengthen Ethereum’s position as a pillar of the decentralized finance (DeFi) ecosystem and spur its growth even more.

     

El Salvador’s Bitcoin Strategy Shows Promising Returns

  • El Salvador continues its Bitcoin accumulation strategy, purchasing more Bitcoin to surpass the 6,000 Bitcoin milestone.
  • The country’s Bitcoin holdings are now showing an impressive 105% unrealized gain, demonstrating the potential of long-term investment in the digital asset.
  • El Salvador’s bold move to embrace Bitcoin as legal tender is inspiring other nations to explore the benefits of cryptocurrency adoption.
  • This continued investment in Bitcoin reinforces El Salvador’s commitment to building a Bitcoin-centric economy and positions the country as a leader in the global crypto movement

Decentralized Exchanges Reach New Heights

  • Monthly trading volume on decentralized exchanges (DEXs) hit an all-time high of $320.5 billion in December.
  • Uniswap, a leading DEX, dominated the market with over $103 billion in volume, showcasing the growing preference for decentralized trading platforms.
  • The increasing popularity of DEXs reflects a desire for greater control and transparency in crypto trading, empowering users to manage their assets without relying on centralized intermediaries.
  • This surge in DEX volume signals a shift towards a more decentralized and user-centric financial future, where individuals have greater autonomy over their financial activities.

Bitcoin Celebrates 16th Birthday with Record-Breaking Strength

  • On Bitcoin’s 16th birthday, the network achieved new milestones with its hashrate and mining difficulty reaching all-time highs.
  • This demonstrates the growing strength and security of the Bitcoin network, fueled by advancements in mining technology and unwavering support from the crypto community.
  • The continued growth of Bitcoin’s hashrate reinforces its resilience against attacks and underscores its position as the leading cryptocurrency.
  • As Bitcoin matures and its network strengthens, it further solidifies its role as a store of value and a cornerstone of the digital asset revolution.

What’s Next?

Regulations are evolving, innovations are arriving, and crypto is making a slow and steady move into our everyday lives. That future is waiting for you, and it is closer than you think. 

In the meantime, stay informed and stay ahead of the curve. Join our Telegram community for the latest news, insights, and discussions that will shape the future of finance.

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BitWise Investments Crypto Market Recap | Dec 24 – Dec 30

2024 comes to a close, and one country now has 30% of the population owning crypto. The writing is on the wall: the future is decentralized, and crypto is leading the charge. New rules are shaking things up in Europe. Memecoins are stronger than ever. More companies are investing in Bitcoin.The change is finally happening. Let’s dive into the latest news and see what the future holds for crypto. 

 

EU vs Tether: MiCA Regulations Impact Tether, New Landscape for Stablecoins?

harmer
  • New EU regulations called MiCA are creating uncertainty for Tether’s USDT stablecoin by imposing strict rules on stablecoin issuers. These rules include maintaining adequate reserves and ensuring prompt redemptions for users. This has raised concerns about Tether’s ability to comply and maintain its dominance in the European market.
  • Tether’s CTO, Paolo Ardoino, addressed these concerns, stating that “FUD” (fear, uncertainty, and doubt) around Tether often has a positive impact on the crypto market. He suggests that this uncertainty can ironically drive up cryptocurrency prices as investors seek alternative assets.
  • The new MiCA regulations could significantly impact Tether’s operations in Europe. The regulations aim to protect consumers and ensure financial stability in the crypto market, potentially reshaping the stablecoin landscape.
 
 

Memes to Millions: Memecoins as Leading Crypto Narrative in 2024

polo
  • Memecoins like Dogecoin and Shiba Inu have dominated the crypto narrative in 2024, according to a Coingecko report. This highlights the surprising staying power of memecoins, which are often dismissed as frivolous, in the evolving crypto world.
  • The report emphasizes the importance of community and social engagement in the success of memecoins. Strong online communities can generate hype, attract new investors, and drive the adoption of these digital assets.
  • New memecoins with unique use cases are emerging, showing ongoing innovation in the sector. This suggests that memecoins are not just a passing trend, but a growing segment of the crypto market with potential for long-term impact. 
 

Battery Company goes Full Crypto Bro, Invests in Bitcoin for $21M

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  • KULR Technology Group has purchased 21,718 Bitcoin for approximately $21 million as part of its treasury strategy. This move signifies growing confidence in Bitcoin as a store of value and a hedge against inflation among corporations.

ALSO READ: How high can Bitcoin’s price realistically go?

  • The company has partnered with Coinbase Prime for secure custody and wallet services. This ensures the safekeeping of KULR’s Bitcoin holdings and facilitates its strategy of allocating surplus cash to the cryptocurrency.
  • KULR plans to allocate up to 90% of its surplus cash to Bitcoin, demonstrating a strong commitment to this investment strategy. This highlights the growing trend of companies diversifying their treasury holdings with digital assets
 
 

From K-Pop to Crypto: Over 30% of South Korea Population Holds Crypto

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  • Over 30% of South Koreans now hold crypto, with the user base reaching 15.6 million by November 2024, according to Yonhap News. This marks a significant increase driven by growing interest in digital assets.
  • The rise in crypto adoption follows the Virtual Asset User Protection Act, which mandates stringent regulations to secure user assets, showcasing South Korea’s proactive regulatory stance.
  • A staggering 102.6 trillion Korean won ($70.3 billion) is held in crypto assets, with trading volumes reportedly challenging the local stock market.
  • The Trump effect(Donald Trump’s US election win) is cited as a catalyst for the surge, sparking optimism around potential pro-crypto policies in global markets.

What's Next?

The future is digital, decentralised, and inevitable. Soon, decentralisation will no longer be a small idea, but the main way we manage finance, governance, and digital identity. As blockchain technology develops, we will see traditional systems of control being replaced by clear, community-driven models. Institutions will start using crypto not just as an investment, but as a key part of their structure. With changing regulations and ongoing innovation, the next phase will focus on connecting the digital and real worlds—leading to smooth, secure transactions.

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BitWise Investment Crypto Market Recap | Dec 17 – Dec 23

The world of money is changing and as always, Crypto is leading this change. This week, there’s an ETF that has been approved which will let you invest in both Bitcoin and Ethereum at the same time. But in the meantime, you might be wondering why Bitcoin prices took a tumble recently… Well, we’ve got the answers. Lets dive in!

 

 

A New Kind of Crypto ETF

Bii

 

The SEC quietly approved the first-ever ETFs that hold BOTH Bitcoin and Ethereum. But what does it really mean for everyday investors?

The first spot exchange-traded funds combining Bitcoin and Ethereum have been approved by the SEC. Hybrid crypto ETFs, as they are called, will help users to invest in both BTC and ETH by holding a single simplified asset. This will improve the mainstream adoption of crypto.

Two major players, Hashdex and Franklin Templeton,are already offering these new “hybrid” ETFs‚—Hashdex Nasdaq Crypto Index US ETF and the Franklin Crypto Index ETF respectively.

Both of these funds hold Bitcoin and Ethereum in the ratio of their market capitalization. They will be available for trading in the US Market from January 2025.

It remains to be seen how these new ETFs will perform in the market. However we believe that ETFs will be leading the mass adoption of Crypto. Meanwhile, here’s what you need to know about Crypto ETFs

 
 

Penguins Airdrop on Solana

Airdrop
  • Following its Tuesday launch, the Pudgy Penguins ecosystem token on Solana, PENGU, quickly climbed to 76th place in the top 100 cryptocurrencies by market valuation.
    The coin began trading at $0.068 and dropped almost 51% on its first day to trade at $0.0335, with a market valuation of approximately $1.7 billion.
    An airdrop of PENGU tokens to millions of NFT holders and traders could increase interest in and involvement in the ecosystem.
    With a trading volume of almost $1.75 billion today, PENGU is one of the most traded tokens among the top 100 cryptocurrencies, according to CoinGecko.


Sonic Boom: Fantom Rebrands to Sonic Labs

Sonic

A major technological achievement for Fantom is the Sonic mainnet, which supports EVM and can process up to 10,000 transactions per second (TPS).
Sonic offers fast transaction finality and integrates with popular wallets like Metamask to enhance accessibility and user experience.
By switching to Sonic, holders of Fantom’s native token, FTM, can acquire S tokens, which form the basis of the new ecosystem.
A $260 million S token airdrop, which represents 6% of the total supply, benefits both active and passive users and promotes further involvement.
Because to the excitement surrounding Sonic, the FTM token surged to its highest price since 2022, indicating great market enthusiasm for this strategy pivot. Fantom’s market value also surpassed $4 billion as a result of this.

The Fed Effect: Here’s why the Bitcoin prices dropped last week

Fed

The cryptocurrency market plummeted, with Ethereum (ETH) falling 7.3% to $3,579 and Bitcoin (BTC) falling 4.3% to $99,700. The total value of the cryptocurrency market dropped 5.6% to $3.64 trillion. On the last day, more than 266,000 traders were liquidated, resulting in $791.36 million in losses overall. Binance had the most significant single liquidation order, worth $7.1 million in ETHUSDT. The Federal Reserve cut its benchmark interest rate to 4.25%–4.5%, the lowest since February 2023, by 0.25 percentage points. However, investor optimism was tempered when the Fed indicated it would cut rates less frequently in 2025.


What's Next?

For cryptocurrency, this week has been difficult. However, it’s crucial to consider the wider picture—Bitcoin has gained almost 120% this year and crossed the $100,000 milestone.
Nevertheless, when investors adjust their portfolios or liquidate their holdings for year-end expenses and tax considerations, the holiday season frequently witnesses a sell-off in financial markets, including cryptocurrency.
In general, Bitcoin and Ethereum do well in the first quarter of the year. Since Ethereum frequently acts as a signal for the larger market, it has the ability to spark a larger altcoin surge. With such solid foundations and historical trends in place, the crypto industry is poised for an exciting start to the new year.

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BitWise Crypto Market Recap | Dec 10 – Dec 16

This week in crypto, we witnessed bold moves redefining the blockchain landscape. From a historic Bitcoin purchase by an Indian company to regulatory wins for Ripple’s stablecoin and Solana’s rise as a developer hub, the world of crypto continues to evolve rapidly. Let’s dive into the highlights!

16 Dec

Jetking Becomes India’s First Public Company to Embrace Bitcoin

Jeking

In a groundbreaking move, Jetking Infotrain, a 77-year-old Indian tech company, became the first publicly traded company in India to adopt Bitcoin (BTC) as a treasury asset. The company purchased 12 BTC worth approximately $1.2 million, making Bitcoin more than 26% of its $4.5 million market capitalization.

Jetking’s decision signals a significant shift in how Indian companies view cryptocurrency. Bitcoin is now the company’s primary reserve asset, aligning with a growing global trend among tech firms. Following the announcement, Jetking’s stock price surged by 20%, marking a five-year high and cementing its place as a pioneer in the Indian crypto space.

While Jetking’s move is bold, it underscores the challenges faced by Indian companies in adopting crypto. Unlike countries like the U.S., where companies like MicroStrategy and Tesla have embraced Bitcoin, India lacks a clear regulatory framework for cryptocurrencies. The 30% tax on crypto gains and prior government crackdowns create an uncertain environment, potentially deterring others from following suit.

Jetking’s success has put the spotlight on India’s slow progress in crypto regulation. This move could nudge policymakers toward more favorable crypto policies, allowing Indian companies to compete in the global blockchain ecosystem. However, until clearer guidelines emerge, Jetking’s trailblazing example might remain an exception rather than the norm.

 

Ripple’s RLUSD Stablecoin Approved by NYDFS

Ripple

Ripple is set to launch Ripple USD (RLUSD), its new stablecoin, after securing approval from the New York State Department of Financial Services (NYDFS). Ripple CEO Brad Garlinghouse announced on December 11 that the stablecoin would go live soon.

Ripple’s RLUSD enters a market dominated by Tether (USDT), which holds a $141 billion market cap, while new entrants like PayPal’s PYUSD have struggled to gain traction. Incentives such as higher annual percentage yields (APY) could be key to RLUSD’s success.

Ripple’s commitment to regulatory compliance could give RLUSD an advantage in building trust among users and investors. However, the crowded market and competition from other stablecoins, like Ethena’s USDe (offering an APY of 27%), mean Ripple will need to innovate to attract and retain users.

Solana Surpasses Ethereum in Developer Onboarding

Solana

For the first time since 2016, Solana has outpaced Ethereum in new developer adoption. A report by Electric Capital revealed that 7,625 developers joined Solana’s ecosystem in 2024, an 83% increase from last year, compared to Ethereum’s 6,456 new developers. Solana’s rise is attributed to its low transaction costs (as low as $0.003), fast processing speeds, and user-friendly architecture. The Solana Virtual Machine (SVM) also offers advanced capabilities, making it a preferred choice over Ethereum’s EVM.

The report highlighted that Asia now leads in developer share, overtaking North America. While the U.S. still hosts 19% of global crypto developers, its share has declined due to regulatory challenges, pushing talent toward regions with more favorable crypto environments. Solana’s success in attracting developers could lead to a surge in innovative projects on its platform. However, Ethereum remains the leader in overall developer activity, particularly in major markets like the U.S. and Canada.

Trump-Linked DeFi Project Buys Big in Crypto

Trump Linked

World Liberty Financial (WLFI), a DeFi project linked to the Trump family, made waves by purchasing $12 million USDC worth of assets, including ETH, AAVE, and LINK, on December 11.

Investment Breakdown

  • $10 million USDC was spent on ETH at an average price of $3,801.
  • $1 million USDC each went toward AAVE ($297.8) and LINK ($24.2).

The purchases have already paid off, with ETH up 3.5%, AAVE up 19%, and LINK up 2% following the transactions.

WLFI is also on the verge of securing approval for a customized version of Aave v3, enabling new lending and borrowing markets. In return, AaveDAO would receive 20% of the fees and 7% of WLFI’s circulating token supply. Despite a slow start, the WLFI token sale has raised $66.5 million, bolstered by a $30 million investment from Tron founder Justin Sun, who has joined as an advisor. However, the sale remains far from its $300 million target, reflecting the challenges faced by new DeFi projects in a competitive market.

What’s Next?

This week’s developments, from Jetking’s Bitcoin purchase to Ripple’s stablecoin launch and Solana’s developer surge, highlight how innovation continues to shape the crypto landscape, even in the face of regulatory challenges.

The upcoming leadership change at the U.S. SEC, with Paul Atkins replacing Gary Gensler, could bring much-needed clarity to crypto policies. This shift might pave the way for long-awaited spot Bitcoin ETFs, boosting market confidence.

Stay tuned for more updates as the crypto world evolves!