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• Dec 6, 12:10 PM The Block

  Altcoins show resilience and potential decoupling from Bitcoin amid market volatility

  Major altcoins like Ethereum and Solana have demonstrated stability and minor retracements despite Bitcoin's significant volatility, which included a drop from over $103,000 to below $92,000. According to Bitwise's André Dragosch, there is evidence of a growing decoupling between Bitcoin and altcoins, marked by reduced performance correlations and a variety of investment narratives, particularly since the US election. Additionally, record inflows into crypto exchange-traded products underscore increasing investor interest in altcoins.

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• Dec 6, 11:00 AM GlobeNewswire

  Bitcoin miner BitFuFu reports holding 1,643 BTC and an 84 BTC self-mining output for November 2024

  In November 2024, BitFuFu Inc. reported holding 1,643 BTC and producing 84 BTC through self-mining operations. The company also announced a net cash position of $98 million as of November 30, 2024, and plans to add 1 GW of mining capacity by the end of 2026. BitFuFu secured a $100 million credit line from Antpool Technologies and has expanded its mining fleet by 13,300 miners, increasing its total mining capability by roughly 2.4 EH/s.

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• Dec 6, 6:00 AM Arkham Intelligence

  Mt. Gox transfers over $350 million in Bitcoin amid price fluctuations

  Mt. Gox has executed two significant Bitcoin transactions totaling over $350 million. The first transaction moved 3,493 BTC to a new wallet, and the second transferred 126,577 BTC to another address. This activity follows a recent $2.8 billion Bitcoin transfer by Mt. Gox and comes after Bitcoin's price exceeded $100,000. The transactions are part of Mt. Gox's ongoing handling of funds, which is often speculated to involve paying off creditors, although only a portion of the transferred Bitcoin is expected to enter the market.

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• Dec 5, 6:20 PM FT

  Financial Times apologizes for years of negative Bitcoin coverage after price hits $100K

  FT Alphaville has issued an apology acknowledging its long-standing skepticism towards bitcoin, despite consistent critical coverage. This comes after bitcoin's price recently exceeded $100,000, leading to significant reader backlash. The editorial team reiterated that their past articles, which depicted bitcoin as inefficient and questioned its intrinsic worth, remain defended. However, they expressed regret for any influence their skeptical views may have had on readers' financial decisions.

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• Dec 5, 3:50 PM The Block

  Base takes on Solana as memecoins spark debates over utility and longevity

  At The Block's Emergence conference, experts explored the future of memecoins, debating their utility and long-term potential. Solana continues to dominate, accounting for over 92% of new tokens in November, but Base is emerging as a challenger with innovative AI tools like Clanker driving token creation and activity. While Base’s rapid growth in total value locked signals potential, experts noted it still lacks the robust ecosystem Solana offers. Despite differing views on utility, the panel agreed that memecoins will remain a key feature of the evolving crypto landscape.

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• Dec 5, 12:11 PM Nayib Bukele

  Elon Musk impressed by El Salvador’s over $300 million unrealized profit in Bitcoin

  El Salvador's Bitcoin investment has accrued over $300 million in unrealized profits as the crypto's value exceeded $100,000 per token. This significant gain corresponds with an increase in the country's Bitcoin holdings to around $603 million from an initial investment of approximately $269.7 million. Despite global financial advisories' skepticism, President Nayib Bukele continues to bolster Bitcoin's role in the national economy through various initiatives, including volcanic mining ventures and public training programs. Elon Musk and the broader crypto community have lauded the country's financial gains, showcasing substantial support for El Salvador's progressive crypto strategies.

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• Dec 4, 8:05 PM Cointelegraph

  Altcoins surge 250% in a month, but rising funding rates signal caution ahead

  A significant rally in selected altcoins, such as HBAR, XLM, XRP, ALGO, and ADA, which saw gains over 250% in 30 days, has elevated funding rates for perpetual futures to between 4% and 6% per month. This surge in funding rates reflects increased leverage usage, making current price levels potentially vulnerable to sharp corrections. While high funding rates might indicate optimism and further growth potential for altcoins, they also heighten the risk for traders, contrasting with the more moderate leverage observed in major crypto tokens like BTC and ETH.

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• Dec 4, 9:57 AM The Block

  Hyperliquid's HYPE token value soars over 200% post-launch, topping $12 billion FDV

  Since its launch on November 29, Hyperliquid's HYPE token has increased by over 200%, reaching a current price of $12.11 and a fully diluted valuation exceeding $12 billion. The decentralized perpetual trading platform and Layer 1 blockchain, Hyperliquid, has seen its token gain 30% in value in the last 24 hours alone, with a trading volume surpassing $258 million. The positive performance aligns with a broader adoption and preference for decentralized exchanges over centralized ones.

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• Dec 4, 3:46 AM The Block

  US government transfers $33 million in seized crypto from FTX to unknown addresses

  The US government has relocated approximately $33.6 million in crypto, previously seized from FTX and Alameda, to two unidentified addresses. The transaction involved multiple transfers, including over 5,024 ether and assorted tokens like BUSD, SHIB, and others. These movements coincide with a market-wide crypto rally and an increase in Ethereum's onchain volume.

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• Dec 3, 11:06 AM The Block

  BlackRock's IBIT spot Bitcoin ETF reaches 500,000 BTC milestone

  BlackRock’s IBIT spot Bitcoin exchange-traded fund (ETF) has surpassed 500,000 BTC in assets, equivalent to approximately $48 billion. This milestone was achieved less than a year after the fund's launch on January 11. The growth reflects significant market interest, as IBIT obtained about 3,526 BTC worth of net inflows recently, bringing its total to 500,380 BTC. This accumulation represents 2.38% of all bitcoin that will ever exist.

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• Dec 2, 9:28 PM Cryptoslate

  Cardano DeFi TVL approaches $700M as ADA price spikes 20%

  Cardano's DeFi ecosystem's total value locked (TVL) is nearing a record high of $700 million, markedly recovering from a low of around $50 million in November 2022 following FTX's collapse. This resurgence in TVL, along with a peak trading volume of $22.35 million on its decentralized exchanges (DEXs), reflects growing investor confidence and broader adoption of the blockchain. Concurrently, Cardano's ADA token has surged over 20% in price, reaching its highest level since 2022 and boosting its market capitalization to over $40 billion.

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• Dec 2, 2:59 PM The Block

  ECB releases second progress report on digital euro project

  The European Central Bank (ECB) has published its second progress report on the digital euro, detailing advances in the development of a central bank digital currency (CBDC) framework and a unified digital payment system in the euro area. The report discusses updates to the digital euro scheme rulebook, efforts to harmonize CBDC payments, and the selection of potential providers for digital euro components. The ECB is also conducting user research and forming innovation partnerships to explore conditional digital euro payments, with key findings expected by mid-2025.

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• Dec 2, 1:46 PM The Block

  MARA Holdings announces $700 million note offering to buy more Bitcoin

  MARA Holdings plans to issue $700 million in zero coupon convertible senior notes due in 2031, primarily aimed at qualified institutional investors. The funds raised will be used to repurchase existing convertible notes and acquire additional Bitcoin. With this offering, the company may also give initial purchasers an option for up to $105 million more in notes. Up to $50 million of the net proceeds will be used for repurchasing part of its current notes, with the rest earmarked for expanding Bitcoin holdings and general corporate purposes.

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• Dec 2, 12:38 PM Cointelegraph

  CryptoQuant CEO highlights shift in altcoin season drivers from Bitcoin to stablecoin liquidity

  CryptoQuant CEO Ki Young Ju stated that the upcoming altcoin season will not be defined by asset rotation from Bitcoin to altcoins as in the past. Instead, it is increasingly influenced by trading volume against stablecoins and fiat currencies. This shift reflects a more sustainable market growth driven by stablecoin liquidity. The altcoin season index indicates that most top altcoins are outperforming Bitcoin, nearing the threshold for an official altcoin season.

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• Dec 2, 3:49 AM Cointelegraph

  Japan exchange DMM Bitcoin set to liquidate following $320 million hack

  Japanese crypto exchange DMM Bitcoin plans to liquidate due to a $320 million loss from a private key hack in May. The exchange will cease operations and transfer customer assets to SBI VC Trade by March following the incident that led to the theft of over 4,500 Bitcoin. Attempts to recover the lost funds have been unsuccessful, prompting the shutdown of the exchange.

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