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Ethereum's price has dropped over 12% recently, influenced by the US Federal Reserve's rate cut and declining interest in spot Ethereum exchange-traded funds (ETFs). After an 18-day streak of positive inflows, US-based ETH ETFs experienced significant net outflows totaling $135 million over two days, with BlackRock's Ethereum Fund leading the losses. As of now, Ethereum is priced at approximately $3,342, reflecting a 2.4% decline in the last 24 hours, highlighting the need for a return to positive ETF inflows to stabilize its value.
Key policymakers and blockchain leaders gathered in Washington, D.C., for the Blockchain Association’s third annual Policy Summit on December 16-17, 2024. Discussions focused on regulating stablecoins and securities laws, emphasizing the need for balanced regulation to foster innovation while ensuring national security.President-elect Donald Trump addressed attendees via video, expressing support for blockchain technology's role in enhancing national security. Industry representatives showcased decentralized projects like CESS, Filecoin, and Helium, highlighting blockchain's potential to protect sensitive information and privacy.
As 2024 closes with the S&P 500 achieving a 25% return, investors are advised to consider defensive strategies amid potential market volatility. AbbVie, with a strong dividend yield and promising drug sales growth, and Pfizer, offering a high yield and new growth drivers, are highlighted as solid healthcare sector investments for uncertain times. Both companies are well-positioned for continued success as they enter 2025.
Jump Trading has agreed to pay $123 million to settle SEC charges related to its involvement in the collapse of the algorithmic stablecoin TerraUSD, which resulted in over $40 billion in investor losses. The SEC accused the firm of misleading investors about TerraUSD's stability and violating securities laws during Luna token offerings. Despite earning $1.28 billion from backing TerraUSD, the settlement suggests an acknowledgment of the issues surrounding its actions, prompting calls for stricter regulations in the crypto market.
Ethena has surged past key resistance levels, currently trading around $1.15, indicating potential long-term growth. Analyst Alan Santana highlights the importance of closing above $1.11 to confirm the bullish trend, despite a recent 13.85% correction. The launch of USDtb, a stablecoin by Ethena Labs, further enhances its scalability and liquidity across multiple blockchains.
Nestlé S.A. is evaluated among the top cookies and crackers stocks as the global market, valued at $100.2 billion in 2023, is projected to grow to $122.45 billion by 2030, driven by North America and rapid expansion in Asia Pacific. Despite economic pressures, snacking remains a resilient category, with consumers maintaining spending habits. Meanwhile, Mondelēz International's potential acquisition of Hershey could reshape the confectionery landscape, competing with Mars' upcoming merger with Kellanova.
The reelection of Donald Trump in 2024 has sparked discussions about establishing a strategic Bitcoin reserve in the U.S. CryptoQuant CEO Ki Young Ju suggests that acquiring 1 million BTC by 2050 could reduce domestic debt by 36%. While challenges exist, this move could enhance Bitcoin's legitimacy as a national asset.
Solana's (SOL) long-term buy zone has been activated, indicating potential growth opportunities following a recent correction. Analyst Alan Santana highlights that despite a 9.3% drop in the last 24 hours, the current market conditions may present strategic investment chances, with institutional interest rising in Europe through new financial products like the Solana Staking ETP.
Colombian investors can now trade shares of the IBIT Bitcoin ETF, issued by BlackRock, in pesos, marking a significant development in the country's financial markets. This ETF, managing over 500,000 BTC and valued at $50 billion, offers regulated access to Bitcoin, facilitating portfolio diversification while lowering barriers for new participants in the crypto sector. Currently, IBIT shares are trading at an average price of 242,960 pesos, approximately 55 US dollars, reflecting its valuation in global markets.
Interpol has issued a "Red Notice" for Hex founder Richard Schueler, also known as Richard Heart, for alleged tax fraud and assault, with Finnish authorities seeking his arrest. The allegations include a physical assault on a minor and tax evasion from June 2020 to April 2024. Schueler is also embroiled in a $1 billion lawsuit with the SEC over unregistered crypto token offerings.
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