📈Markets Bounce Amid Cooling U.S. Inflation
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✍️ In today’s newsletter:
- Crypto markets bounce after reports show U.S. inflation easing
- Soneium catches flak for freezing memecoins
- MicroStrategy buys another $243M of Bitcoin
- Bitcoin ETFs turn one
- Morpho TVL soars 150%
- DeFi dominated 2024 Web3 activity: DappRadar
- Bitwise CEO says hundreds of companies will emulate MicroStrategy
- eGirl Capital projects bullish 2025
- Semler Scientific buys more Bitcoin
- 2024 was a record year for crypto crime: Chainalysis
- TON blockchain plots U.S. expansion
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📈Crypto Markets Bounce as Data Shows Cooling U.S. Wholesale Inflation
The cryptocurrency market is rebounding following recent sharp losses, buoyed by the latest Producer Price Index (PPI) report. The rally follows a week of losses that began last Tuesday, triggered by strong macroeconomic data that dashed investors’ hopes for imminent rate cuts.
😧Sony Layer 2 Soneium Fields User Uproar Over Frozen Memecoins
Within hours of the launch, users started to complain that they were unable to trade tokens such as Aibo and Toro. Sony’s Layer 2 has labeled the memecoins “forbidden,” rendering them untradeable, citing intellectual property concerns.
💰MicroStrategy Boosts Bitcoin Holdings by Another $243 Million
Saylor’s software company has acquired an additional 2,530 BTC, pushing its reserves above $43 billion.
🎂Spot Bitcoin ETFs Celebrate One Year Anniversary After Record Year
By the end of 2024, Bitcoin ETFs reached a total of $105.4 billion in net assets. Leading the inflows were BlackRock’s IBIT, Fidelity’s FBTC, and Grayscale’s GBTC funds, which currently hold $52 billion, $19.32 billion, and $19.19 billion, respectively.
🚀Morpho TVL Up 150% Since its Token Launch
Morpho Protocol, the third-biggest DeFi lending protocol by assets, is at a new all-time high total value locked (TVL) of $3.65 billion, a 150% increase since its token launch.
💪DeFi Dominated in 2024, DappRadar Report Shows
In its 2024 Industry Report, DappRadar found that DeFi was the most dominant category by activity, growing by 532% to a year-end tally of seven million active wallets and 32% market dominance. Total value locked (TVL) increased 211% to $214 billion.
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🏦Bitwise CIO Says MicroStrategy’s BTC Holding is an Overlooked Megatrend
Matt Hougan said MicroStrategy’s Bitcoin Strategy is an overlooked megatrend and predicted that hundreds of companies will adopt Bitcoin as a reserve asset over the next year and a half, boosting the Bitcoin market.
🤑Semler Scientific Adds 237 BTC as Corporate Bitcoin Investments Ramp Up
The latest $23M purchase makes Semler the twelfth largest public corporate BTC holder.
🥳eGirl Capital Projects Bullish 2025
eGirl Capital, a crypto-native fund that launched in 2020, released its annual predictions from its investors, analysts, and interns, and nearly all of the contributors are calling for a bullish 2025.
🦹Chainalysis Says a Record $51B Crypto Was Spent in Illicit Activities in 2024
“We’re certainly on pace, I think, for a potentially record-setting year that's going to be north of $50 billion in total illicit transaction volume on chain,” Eric Jardine, cybercrimes research lead for Chainalysis, told The Defiant.
⛓️TON Blockchain Targets U.S. Growth Under Trump Administration
The TON blockchain is planning to move aggressively into the U.S., citing the election of crypto-friendly Donald Trump. The Layer 1 blockchain is closely associated with the Telegram messaging service, where it allows the 950 million users to use services like making in-app payments and accessing games.
🌍 ELSEWHERE
- Trump's new SEC leadership poised to kick start crypto overhaul, sources say (Reuters)
- Germany's Boerse Stuttgart Says Crypto Accounts for 25% of Its Revenue as Trading Volume Triples (Coindesk)
- Bitcoin Approaches $100,000 Again Amid Risk Rally Renewal (Bloomberg)
🔥TRENDING
- Bitwise CIO Says MicroStrategy’s BTC Holding is an Overlooked Megatrend
- Crypto Markets Bounce as Data Shows Cooling U.S. Wholesale Inflation
- Sony Layer 2 Soneium Fields User Uproar Over Frozen Memecoins
- Spot Bitcoin ETFs Celebrate One Year Anniversary After Record Year
- MicroStrategy Boosts Bitcoin Holdings by Another $243 Million
- Prediction Market Polymarket Banned in Singapore
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