Daily market report (December 12, 2024, 10:30 AM)
ChainDD December 12 market shows, comprehensive DD index and CoinMarketCap quotes:
BTC is priced at $96,156.26, down about 3.07% in 24 hours;
ETH is priced at $3,647.98, down about 7.68% in 24 hours;
BNB is priced at $681.23, down about 6.00%;
DOT is priced at $8.15, down about 20.42% in 24 hours;
DOGE is priced at $0.3901, down about 14.12% in 24 hours.
Crypto Circle Dynamics
Yesterday, VanEck HODL had a net inflow of $2.9 million.
According to Farside Investors data, VanEck HODL had a net inflow of $2.9 million yesterday.
Yesterday, Fidelity FBTC had a net inflow of $121.9 million, with FETH having no inflows/outflows.
According to Farside Investors data, Fidelity FBTC saw a net inflow of $121.9 million yesterday, with FETH having no inflows/outflows.
The US SEC is advancing the Bitwise Bitcoin and Ethereum ETF application for listing on the New York Stock Exchange.
According to a public document, the US SEC is soliciting public comments on the listing of Bitwise Bitcoin and Ethereum ETFs on the New York Stock Exchange.
The Bitwise Bitcoin and Ethereum ETF is a proposed spot cryptocurrency index fund composed of BTC and ETH. On November 26, Bitwise and the NYSE submitted the application for the ETF listing to the SEC, and now the SEC is advancing the application to the next stage by soliciting industry opinions.
Bank of New York Mellon CEO: Tokenization is a major trend in financial markets.
The CEO of Bank of New York Mellon stated that tokenization is a major trend in financial markets, and any new developments in crypto assets need to be tested in practice.
BlackRock and Fidelity purchased over $500 million worth of ETH in the past 48 hours.
According to Arkham monitoring, BlackRock and Fidelity bought more than $500 million worth of ETH in the past 48 hours.
Analysis: Whales bought 210 million DOGE during the recent market downturn.
Crypto analyst Ali (@ali_charts) posted on X that Santiment data shows Dogecoin whales bought 210 million DOGE during the recent price adjustment.
Citibank: Dollar stablecoins benefit the consolidation of the dollar's global dominance and will not replace the dollar.
Citibank stated in a recent report that stablecoins not only have the potential to consolidate the dollar's dominance but also challenge the notion that Bitcoin may one day end the dollar's hegemony.
Analysts in the report stated, "Initially, cryptocurrencies like Bitcoin were seen as competitors to central bank-issued currencies. In fact, some believe - and still believe - that Bitcoin could end the dollar's hegemony. However, USDT is challenging this narrative." Citibank noted that the vast majority of stablecoins are pegged to the dollar, with issuers holding dollars and US Treasury bonds.
Analysts also indicated that if the US government further legalizes stablecoins, it could enhance the dollar's dominance. "Increased regulatory transparency may also further enhance the appeal of stablecoins. If so, the demand for US Treasury bills by stablecoin issuers could grow from the current level of around 1%. Therefore, this cryptocurrency will not replace the dollar but can make the dollar more easily accepted globally and consolidate the dollar's long-standing global dominance."
