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Ethereum is experiencing a resurgence, with new wallet creation reaching an eight-month high, averaging 130,200 new addresses daily in December. Active addresses have increased by 4.24%, and institutional interest is reflected in 15 consecutive days of inflows into Ethereum spot ETFs, totaling $23.6 million. As the network approaches a crucial support zone between $3,700 and $3,810, Ethereum's strong fundamentals and growing adoption suggest a promising future.
The US Ethereum spot ETF experienced a significant inflow of approximately $51.1 million, marking the 16th consecutive trading day of net inflows. Notably, BlackRock ETHA led with about $30.7 million, followed by Fidelity FETH with $4.1 million, Bitwise ETHW with $8.7 million, and Grayscale Mini ETH with $7.6 million. Other products reported no net inflows or outflows.
Ethereum has surged past the critical resistance level of $3,953, with a target of $5,250 in sight, driven by increased whale activity and record inflows into Ethereum ETFs, totaling over $2 billion. The tightening supply and growing institutional interest suggest a bullish outlook, potentially leading to new all-time highs if momentum is sustained. Key factors include maintaining the price above $3,953 and the weekly RSI surpassing 70%.
Ethena Labs launched its USDtb stablecoin on December 16, achieving $65.4 million in total value locked on its first day. Backed 90% by BlackRock’s USD Institutional Digital Liquidity Fund, USDtb aims to provide stability in volatile markets and has the potential to scale to $100 billion. The stablecoin's smart contracts passed three audits, and it is designed to enhance liquidity and risk management for Ethena's flagship product, USDe.
Ethena Labs has launched USDtb, a stablecoin backed by 90% of BlackRock’s tokenized fund, the USD Institutional Digital Liquidity Fund (BUIDL). This multichain stablecoin operates independently from Ethena’s existing USDe and is designed for flexibility and risk mitigation across various blockchains, including Ethereum and Solana. With a market cap of nearly $562 million, USDtb aims to enhance tokenization efforts and solidify Ethena's position in the stablecoin market, following the success of USDe, which recently reached a $5.6 billion market cap.
Digital asset investment products saw a remarkable $3.2 billion in inflows last week, pushing year-to-date totals to $44.5 billion, driven primarily by Bitcoin and Ethereum ETFs. XRP also experienced significant interest, with $145 million in inflows, as Ripple prepares to launch its RLUSD stablecoin. Bitcoin reached a new all-time high of $107,822, while Ethereum attracted $1 billion in inflows, marking a record for the year.
Ethena Labs has launched a new US dollar-pegged stablecoin, USDtb, backed by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL). This offering follows Ethena's first stablecoin, USDe, and distinguishes itself by being supported by one of the world's largest asset managers. BUIDL, a tokenized money-market fund, aims to maintain a stable value of $1 per token on the Ethereum blockchain, reflecting BlackRock's commitment to advancing digital asset solutions.
Ethereum, Bonk, and Yeti Ouro are leading the charge in the cryptocurrency market, with Ethereum nearing its all-time high of $4,891.70, bolstered by institutional investments and scalability improvements. Bonk, a meme coin on the Solana blockchain, is gaining traction with a strong community and plans for increased utility, while Yeti Ouro, featuring a play-to-earn game, has raised $1.2 million in presale, attracting investor interest with its unique gaming and DeFi integration.
GAM Investments has urged SBI Holdings to implement an XRP buyback program to unlock shareholder value, citing a significant gap between the company's market value and its crypto assets, particularly its indirect holdings in Ripple, valued at over JPY 1.6 trillion. The proposal includes increasing transparency through daily XRP valuations and regular updates on net asset value. By adopting this strategy, similar to MicroStrategy's Bitcoin accumulation, GAM believes SBI could enhance its market capitalization, which currently stands at JPY 1.2 trillion.
The cryptocurrency landscape is rapidly evolving, with LightChain AI (LCAI) emerging as a notable investment opportunity, leveraging AI and blockchain technology. Currently in presale at $0.003 per token, analysts predict LCAI could reach $1 by the end of 2024 and $5 by early 2025. Other strong contenders include Ethereum, Binance Coin, Solana, and Chainlink, each showing significant growth potential and robust market activity.
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