👀DeFi TVL Tags Record High

GM Defiers!

The total value locked in DeFi protocols is at an all-time high of $201.3 billion after surging 82% in three months. The milestone coincides with Fireblocks reporting a 150% increase in institutional DeFi volume this year.

Markets rallied for a second day, with BTC reclaiming $98,000 and ETH surging 7%.

BlackRock’s Bitcoin ETF now holds $48.5 billion worth of Bitcoin, accounting for 46.5% of the sector’s assets under management.

President-elect Donald Trump named Paul Atkins as his preferred pick to head the SEC following Gary Gensler’s exit. Atkins previously served as an SEC commissioner and currently advises Reserve Protocol.

Also, Grayscale files for a Solana ETF, Tron tags all-time high, Instadapp proposes rebrand, FTM rallies ahead of Sonic launch, and Vitalik Buterin pitches new standard for web3 wallets.

✍️ In today’s newsletter:

DeFi TVL posts record high
ETH trades above $3800 for first time since June
Fireblocks reports institutional DeFi surge
IBIT breaks into top 40 ETFs by AUM
Trump wants Paul Atkins to head SEC
Grayscale files to convert Solana Trust into ETF
Tron rockets 55% in 24 hours
Instadapp proposes brand and tokenomics overhaul
FTM rallies in response to Sonic genesis block
Vitalik outlines his ideal wallet

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🚀️DeFi TVL Soars To Record High Above $200B

The total value locked in DeFi protocols is at a record high of $203.1 billion after jumping 82% since early September. The milestone follows impressive growth in the Ethereum, Solana, Tron, Base, and Bitcoin ecosystems.

📈Ether Soars 7% as Bitcoin Reclaims $98,000

BTC climbed 3.5% to $98,300, setting the stage for another assault on the $100,000 level. Meanwhile, Ether surged 7% to trade above $3,800 for the first time since May. Consequently, the ETH/BTC ratio is up 5% today to a three-week high of 0.04.

⬆️Fireblocks Reveals 150% Annual Increase In Institutional DeFi

Fireblocks, a digital asset management platform for enterprises, revealed that the value of DeFi transactions executed by its institutional users surged 150% to $60 billion in 2024. Fireblocks noted that stablecoin payments have also doubled in the past three years.

📈BlackRock Bitcoin ETF About to Surpass Largest Financial Sector Fund at $50B AUM

BlackRock’s spot Bitcoin ETF now manages $48.5 billion worth of BTC following a buying spree from institutions amid the recent Bitcoin bull market. IBIT now ranks among the top 40 ETFs by assets under management.

🇺🇸 Donald Trump Names Paul Atkins as Preferred SEC Chair

The U.S. President-elect Donald Trump wants Paul Atkins to take the reigns of the Securities and Exchange Commission for the incoming administration. Atkins is a former SEC commissioner and known crypto supporter. However, reports indicate Atkins may be unlikely to accept the position.

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👀Grayscale Files for Solana ETF

Grayscale wants to convert its Solana Trust into a spot exchange-traded fund, following the conversion of its Bitcoin and Ethereum trusts earlier this year. The news follows recent spot Solana ETF applications from VanEck, 21Shares, Bitwise, and Canary.

🌙Tron Surges to New All-Time High

The price of TRX posted record highs after rallying 55% in one day, lifting the token’s market cap to $32.5 billion. The parabolic momentum flowed over into Tron’s DeFi ecosystem, which is at an all-time high of $13.7 billion after jumping 73% since Dec. 1.

🥸Instadapp Proposes Rebrand and New Tokenomics Following Fluid Launch

Instadapp proposed changing its brand identity and tokenomics following the blazing launch of its Fluid dApp. Instadapp wants to rebrand to Fluid, migrate its INST tokens to a new asset called FLUID, and allocate treasury assets to bootstrapping Fluid’s adoption. Fluid is the third-ranked Ethereum DEX by daily volume just three weeks after launching.

📊FTM Soars to Highest Level Since April 2022

The price of FTM is at a 31-month high amid bullish anticipation for Sonic, Fantom’s new Layer 1 network. FTM’s latest rally followed the launch of Sonic’s genesis block and second testnet.

💡Vitalik Buterin Proposes New Standard For Ethereum Wallets

Vitalik Buterin, the chief scientist of Ethereum, is calling on developers to introduce new features to web3 wallets. Buterin argued that users can only experience the decentralization, security, and privacy of Ethereum to the extent that a wallet possesses those qualities.

🌍 ELSEWHERE

Perianne Boring among contenders to lead agency involved with crypto in Trump admin (Fox Business)
US Government Moves $33.6 Million in FTX-Seized Crypto to Mystery Wallets (BeInCrypto)
XRP Account Fees Fall by 90% After XRPL Validator Vote (CoinDesk)
Does US Representative Michael Collins Have a Case of Memecoin Fever? (Unchained)