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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.
Bitcoin soared to a new all-time high of $107,822, driven by President-elect Donald Trump's commitment to establishing a national Bitcoin reserve. This surge follows Trump's remarks about enhancing the U.S. position in the crypto space, alongside support from Wyoming Sen. Cynthia Lummis, who introduced the Bitcoin Act. The potential for a strategic reserve has sparked optimism among investors, suggesting a competitive landscape for Bitcoin adoption among nations.
The Nasdaq Composite reached a record high, climbing 1.2% as major tech stocks like Tesla, Google, Amazon, and Apple hit fresh peaks. Meanwhile, the S&P 500 rose nearly 0.4%, while the Dow Jones fell 0.2%. Investors are focused on the Federal Reserve's upcoming interest rate decision amid rising inflation concerns.
US lawmakers are making a final push to confirm Caroline Crenshaw for another term at the SEC before Democrats lose control in January. The Senate Banking Committee, led by Sherrod Brown, has scheduled a vote for Dec. 18 after delays attributed to Republican opposition linked to corporate interests, particularly from the cryptocurrency sector. Crenshaw, who has served since 2020, faces criticism for her stance on crypto regulations, and her confirmation is crucial as the SEC may shift to a Republican majority with potential changes in leadership.
VanEck forecasts significant price increases for major cryptocurrencies by 2025, predicting BTC at $180K and ETH at $6K, driven by a bullish market following Donald Trump's election. The firm anticipates a surge in stablecoin trading volume to $300 billion and a peak of $4 trillion in decentralized exchange volume, fueled by AI and new DeFi projects. Additionally, the NFT market is expected to rebound to $30 billion, supported by popular projects.
Donald Trump’s World Liberty Financial (WLFI) has acquired $50 million in decentralized finance (DeFi) assets, including $35 million in ETH/WETH and $10 million in cbBTC, as it prepares for its token sale. The project, which claims to be the only DeFi platform inspired by Trump, aims to disrupt traditional financial institutions. Notably, TRON founder Justin Sun has become the largest holder and advisor after the TRON DAO received 2 billion WLFI tokens.
Bitcoin has surged past $106,000, driven by optimism surrounding President-elect Donald Trump's proposed national Bitcoin reserve, which aims to position the U.S. as a leader in the cryptocurrency market. This rise, exceeding 50% since Trump's election on November 5, 2024, reflects strong institutional interest and robust market dynamics. Analysts suggest that if momentum continues, Bitcoin could target $110,000, while concerns about market volatility linger as the new administration takes shape.
Bitcoin has surged past $107,000, driven by optimism surrounding the new presidential administration and President-elect Donald Trump's pro-crypto stance. Trump has reportedly acquired over $50 million in various altcoins and expressed interest in establishing a national Bitcoin reserve. Analysts suggest that the market is poised for further gains, with predictions of Bitcoin reaching $180,000 and the potential onset of an "altseason."
Softbank Group's CEO Masayoshi Son announced a $100 billion investment in US AI infrastructure at Trump’s Mar-a-Lago resort, aiming to create 100,000 jobs. This follows a previous $50 billion commitment in 2016, and the new investment is expected to be completed by 2028. Despite past challenges, Softbank's strategic focus on AI has contributed to its recovery, with $175 billion in assets as of late 2024.
MicroStrategy's stock is in high demand following its upcoming inclusion in the Nasdaq 100 on December 23, 2024. The company, which holds approximately 423,650 bitcoins valued at around $25.6 billion, is benefiting from Bitcoin's surge above $107,000, driven by investor optimism and favorable market conditions. As the cryptocurrency rally continues, volatility is expected, particularly due to MicroStrategy's dependence on Bitcoin.
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