What Happened in Crypto Today: Guess Who Wants Bitcoin Now
12/13/2024 17:42
Here is a 2-minute breakdown of everything important that happened in crypto today.
The same institutions that called crypto "magic internet money" just can't seem to get enough of Bitcoin these days.
Funny how a few extra zeros can change someone's perspective, right?
With Bitcoin sitting pretty in six-figure territory, even the most vocal critics are quietly opening their wallets.
And Ethereum? It's finally getting the institutional love letter it's been waiting for. Those same suits who couldn't stop talking about Bitcoin ETFs are suddenly very interested in what ETH has to offer.
Is it FOMO? Maybe. Smart money? Could be. But something tells me we're watching history unfold in real-time.
The real question is: what's next? Because if there's one thing crypto has taught us, it's that today's milestone is tomorrow's starting line.
So what's really going on here? Let's make sense of it all! Here is a quick rundown of the top headlines from the past 24 hours:
Let's break these stories down into a TLDR format that matches your style:
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Sygnum Bank sees Bitcoin exploding in 2025, with sovereign funds and pensions jumping in. But what makes them so confident about these conservative investors suddenly embracing crypto? 🤔
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Brian Quintenz might be the next CFTC chair, bringing his crypto-friendly stance from a16z. With his ETH futures argument against SEC, will his appointment actually change anything for crypto? 📈
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ETH breaks $4K as ETF inflows hit record $428M in a day. Is this surge sustainable or are we heading for a classic crypto plot twist? 🚀
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Caroline Crenshaw's SEC renomination battle heats up with Trump's pro-crypto pick waiting in the wings. So is the U.S. finally going completely pro-crypto, or is this just another false dawn? ⚖️
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Chainalysis starts tracking all 4M Solana tokens, especially those Pump.fun meme coins making $93M monthly. But can they really spot scams before they happen? 🔍
Let's dive in!
Sygnum Bank just dropped a fascinating prediction about Bitcoin's future.
The bank's latest report suggests 2025 could be the year Bitcoin breaks all expectations. Not because of retail traders or market speculation, but thanks to some serious players entering the game.
We're talking about sovereign wealth funds, pension funds, and endowments - the kind of investors who typically stick to traditional assets. They're starting to see Bitcoin differently, and their deep pockets could change everything.
How are they so sure of that? Read the full story!
Brian Quintenz, who already has an impressive track record with crypto at the CFTC, is reportedly leading the CFTC chair race. During his previous stint from 2017 to 2021, he helped launch the first regulated Bitcoin and Ethereum futures in the U.S. - and that was just the beginning.
Currently heading policy at a16z's crypto division, Quintenz has been vocal about the SEC's approach to crypto regulation. He believes there's a better way to regulate digital assets without suffocating innovation.
Quintenz points out that if the SEC approved Ether futures ETFs, how can they claim jurisdiction over Ether itself?
Will his victory push ETH’s prices to new highs? Read the full story!
Ethereum just crossed $4,000, and the story behind this surge is pretty fascinating.
ETH ETFs are absolutely crushing it. We're talking about $428 million flowing in on a single day - the biggest daily inflow ever. Over two weeks, these ETFs have pulled in nearly $2 billion, now holding 3.43 million ETH.
But there's more to this story than just numbers. Ethereum's network is busier than ever, processing up to 7.5 million transactions daily in 2024. That's up from 5 million last year. More activity means more fees being burned, and since September, Ethereum has been burning more than it's creating.
CryptoQuant's analysis suggests this might just be the beginning. Their models are pointing to some seriously optimistic numbers, especially with ETH's current trading patterns.
Want to know their exact price target and what's driving their bullish outlook? Read the full story!
A crucial vote for crypto's future in the U.S. is heating up, and it's not the one you might expect.
Caroline Crenshaw's renomination to the SEC has turned into quite the political battle. Over 40 advocacy groups are pushing hard for her confirmation before time runs out, but Republican senators aren't making it easy.
With SEC Chair Gary Gensler set to step down and Trump's nominee Paul Atkins (known for his crypto-friendly stance) waiting in the wings, this vote could completely reshape how crypto is regulated in the U.S.
So the U.S. is finally on its way to be completely pro-crypto? Read the full story!
Chainalysis decided to dive deep into Solana's meme coin world, recently.
The blockchain detective firm is now tracking all Solana tokens, including the explosion of meme coins from Pump.fun. We're talking about monitoring 4 million different tokens - each one now visible under Chainalysis's watchful eye.
Pump.fun has been generating $93 million in revenue just last month. But a crypto researcher found that 95% of these meme coins disappear within 24 hours, taking investors' money with them.
That's exactly why Chainalysis stepped in. Their Know Your Transaction and Reactor tools now track these tokens from the moment they're created. This means exchanges can list them confidently, and regulators can spot trouble before it happens.
So we will instantly know which of these tokens are a scam or not? Read the full story!