#Binance Alpha, the newly integrated platform within the Binance Wallet, has officially launched its first and second batches of emerging crypto projects.
The platform introduced the first ten projects selected for its pre-listing token spotlight program. Notably, the Binance Alpha platform serves to highlight early-stage tokens with strong growth potential in the Web3 ecosystem. It has curated a list of promising tokens that may eventually be considered for listing on the Binance Exchange.
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The BlackRock iShares #Ethereum Trust ETF (ETHA) crosses a major milestone in its Ethereum holdings amid an impressive surge in institutional interest.
2024 has arguably been the year of institutional adoption for crypto as newly launched U.S. spot Bitcoin and Ethereum ETFs have funneled billions into the market. As the year ends, this capital influx shows no signs of slowing. 
In the latest instance highlighting this surge in institutional interest, one of these newly launched products has hit a new milestone.

BlackRock Ethereum ETF Hits 1M ETH

BlackRock’s Ethereum ETF (ETHA) has hit a new milestone. As highlighted by blockchain tracker Lookonchain on Wednesday, December 18, the investment vehicle now holds over 1 million ETH, specifically 1,025,378 ETH worth over $4 billion.
This feat is significantly impressive, as the product has only been open for trading for less than six months after launching in July 2024. 
ETHA is the first among the newly launched Ethereum ETF products to reach the milestone. For context, Grayscale’s mini Ethereum ETF ETH boasts the second-largest holdings among the newly launched products, with over 476,000 ETH worth nearly $1.9 billion.
The recent BlackRock Ethereum ETF milestone comes as the products have seen a resurgence in recent weeks after initial struggles.

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#Bitcoin price falls below the $104k level and warns of a support trendline breakdown to potentially retest the $100k psychological milestone.
After a sudden 2.75% drop over the past 24 hours, Bitcoin has lost its footing above the $104,000 mark. The current BTC price is $103,674, with the market capitalization remaining at $2.052 trillion.
As the surge in supply suggests a potential extended correction, attention is now focused on a crucial support trendline. Will the declining trend lead to a breakdown that tests the $100,000 level?

Bitcoin Price Analysis

In the 4-hour chart, Bitcoin’s price action shows a failed attempt to maintain a strong close above the 50% Fibonacci level. The key Fibonacci resistance is at $106,912.
Despite reaching a new all-time high of $108,364, overwhelming supply in this region caused a swift bearish reversal. This has led to a 4.42% pullback from the new all-time high.
The bearish retracement has caused the price to fall below the 20-EMA line on the 4-hour chart. After forming two large bearish engulfing candles, Bitcoin is now testing a critical local support trendline.
This support trendline sits slightly above the 38.20% Fibonacci level at $103,093. Additional support is found near the 50-EMA line, around $102,676.
Given these support levels, BTC may experience a bullish recovery. However, the quick decline has caused the 4-hour RSI to drop below the halfway mark, signaling increased selling pressure and the potential for further downside.
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Bitcoin Price Chart

The #Bitcoin Policy Institute has drafted the executive order to establish a strategic Bitcoin reserve under the United States Treasury’s Exchange Stabilization Fund (ESF).
The draft aims to position Bitcoin as a national strategic asset for the U.S. under President Donald Trump. The proposed order outlines measures to ensure the United States remains competitive in the evolving global digital economy. Notably, this policy requires approval and signing after Donald Trump’s inauguration to take effect.

Details of The Bitcoin Reserve and Policy Objectives

The executive order emphasizes integrating Bitcoin into the U.S. financial system to strengthen economic security and global leadership.
According to the draft, Bitcoin’s decentralized and limited supply characteristics make it a valuable asset comparable to digital gold. The proposal recommends designating Bitcoin as a strategic reserve asset within the ESF to diversify holdings, attract innovation, and promote domestic industry growth.
Under the draft’s provisions, the Treasury Secretary would oversee the creation of a Strategic Bitcoin Reserve (SBR), with an allocation of $521 billion for Bitcoin acquisition.
The proposal mandates that all Bitcoin held by federal agencies, such as the U.S. Marshals Service, be consolidated into the SBR within seven days of the order’s issuance. Notably, it prohibits the sale of any Bitcoin from this period.
Additionally, the draft directs the Treasury to implement a detailed acquisition plan within 60 days to establish the United States as a global leader in Bitcoin holdings and innovation.

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The #Dogecoin weighted sentiment metric has collapsed in the past few weeks as its sluggish price action triggers impatience among investors.
Donald Trump’s election victory in November 2024 sparked a wave of excitement that sent the broad crypto market soaring as the president-elect had shown extreme support for the industry during his campaign.
However, as the rally now stalls for some assets, investor sentiment may now be changing. This appears particularly true for meme coin market leader Dogecoin (DOGE).

Dogecoin (DOGE) Investors Grow Impatient 

Following Trump’s election victory and the announcement of plans to launch a department of government efficiency playfully nicknamed D.O.G.E. by Tesla CEO Elon Musk, Dogecoin (DOGE) soared about 220% from $0.15139 to highs of $0.48434.
But as the rally has stalled over the past few weeks, with DOGE shedding some of its gains to trade at the $0.38429 price point at the time of writing, traders may now be losing patience and faith that the asset’s price still has more room for growth in the short term.
According to Santiment Feed data shared by prominent crypto analyst Ali Martinez on Tuesday, December 17, weighted DOGE sentiment has turned negative, dropping from highs of nearly five on Santiment’s scale in mid-November to a negative 0.6. Along with this decline in sentiment has also come a massive dip in mentions on social media from over 3,200 to below 300.
Still, negative sentiment may not be a reason for investors to panic, as it can often be a contrarian indicator when it is overwhelming. Indeed, analysts continue to sound bullish on the asset despite the recent correction.

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#Cardano whales are back in the game, leveraging the latest dip to acquire the ninth-largest cryptocurrency by market cap at an appealing price.
After sustainably trading above $1 for fourteen consecutive days, Cardano recently retested prices below the psychological level. For context, ADA fell to $0.9100 on December 9 following Bitcoin’s drop below $94,000.
Meanwhile, Cardano quickly rebounded, closing the day at $1.0034. Although the asset tested lower prices again the next day, it closed bullish, spurring an uptrend to $1.1819.
Amid the bearish spell, Cardano whales are buying the dip. Data shows that the balance of large ADA holders has increased substantially since the asset tested lower prices.

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Bloomberg ETF analysts predict the potential approval of several crypto-based exchange-traded funds (ETFs) next year, including a dual #XRP and Solana ETF. 
Balchunas made the projection yesterday, referencing insights from his colleague James Seyffart. According to them, the crypto industry will experience a wave of ETFs for several cryptocurrencies, including those previously approved for the investment vehicle. 
They speculated that while the SEC may not approve these ETFs at once, they may likely be introduced in phases. 

SEC to First Approve Bitcoin and Ethereum Combo 

Bloomberg experts expect the SEC first to approve an ETF combining Bitcoin and Ethereum, the two largest cryptocurrencies by market cap. 
Asset managers, such as Bitwise, Hashdex, and Franklin Templeton, have already filed to issue the Bitcoin and Ethereum combo ETFs. 
For context, the SEC approved separate ETFs tied to Bitcoin and Ethereum earlier this year. While the Bitcoin ETFs launched in January, trading for the Ethereum-based ETFs went live six months later, in July. 

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Sarah Knafo, a French member of the European Parliament, has urged the European Union to establish a strategic #Bitcoin reserve.
At the same time, she firmly opposes the proposed “digital euro,” a central bank digital currency (CBDC).

No to Digital Euro, Yes to Strategic Bitcoin Reserve

In a passionate speech delivered to the European Parliament, Knafo rejected the idea of the ECB’s digital euro, labeling it a tool for totalitarian control. Instead, she championed Bitcoin as a decentralized, freedom-affirming alternative. 
“No to the digital euro, yes to a strategic Bitcoin reserve,” Knafo wrote on X (formerly Twitter), accompanied by a video of her address.

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The CryptoQuant Research Head says an unprecedented rate of demand is responsible for the recent #Bitcoin rally.
By every measure, Bitcoin has had a landmark year in 2024. Still, the asset shows no signs of slowing down, with its price continuing to record high after high. Recently, CryptoQuant Head of Research Julio Moreno has offered insight into what is driving the latest rally.

Bitcoin Seeing Record Demand

Over the past 24 hours, Bitcoin has surged to new highs near the $108,000 price point, extending its year-to-date (YTD) gains to over 150%. According to Moreno, the recent rally, which kicked off over the weekend, is driven by record demand outpacing supply.
As an example, Moreno highlighted that Bitcoin over-the-counter desks are seeing their most significant monthly balance decline this year, already down a staggering 25,000 BTC worth $2.7 billion at current prices this month. The market researcher also noted that this balance had declined by 40,000 BTC since November 20.
Meanwhile, as this supply reduces, demand continues to grow, as highlighted by the Bitcoin ‘Apparent Demand’ indicator chart shared by Moreno. 
The apparent demand indicator measures the difference between newly issued Bitcoin and the inactive supply for a year. When inactive supply decreases faster than the newly issued coins, the metric turns positive, suggesting high demand. Per the chart, the apparent demand indicator has been significantly positive since the end of October 2024.
The recent trend of Bitcoin demand outpacing supply comes as several factors have investors feeling significantly optimistic about the asset.
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Arkham Intelligence has announced the integration of #Dogecoin into its analytics platform, offering its advanced on-chain capabilities to the meme-based crypto. 
The team emphasized the significance of this move, highlighting the limited tools available to analyze the Dogecoin blockchain despite its 11-year existence. With Arkham’s features, users will soon be able to visualize and monitor Dogecoin’s blockchain activity, trace transactions, filter data, and set real-time alerts. 
This addition expands Arkham’s supported networks to 16, allowing Dogecoin users to examine specific wallet activity and monitor addresses tied to exchanges, funds, and notable individuals.

Dogecoin’s Cultural Legacy and Adoption

Dogecoin’s cultural relevance extends beyond the crypto industry. According to Arkham, the coin, inspired by the Japanese Shiba Inu dog Kabosu—who passed away earlier this year—has achieved widespread recognition. The team also notes how the crypto has garnered attention from prominent figures like Elon Musk, who briefly replaced X’s (formerly Twitter) logo with the Doge icon after acquiring the platform. 
Additionally, the team highlights how Tesla began accepting Dogecoin as payment for merchandise, furthering its visibility in mainstream markets.
Interestingly, the acronym DOGE now coincides with the U.S. Government’s Department of Government Efficiency, a satirical nod to its cultural prominence.
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The United States Securities and Exchange Commission (#SEC ) could be planning to bring an enforcement action against popular NFT collection CyberKongz. 
According to an announcement, the development comes as the securities regulator issued a Wells Notice to the project. 
A Wells Notice is a form of communication the SEC issues to companies following an investigation, hinting that it may recommend an enforcement action against the recipient. 

CyberKongz Highlights SEC Misunderstanding of Blockchain 

According to the post, CyberKongz expressed disappointment with the development, noting that it has suffered in silence since the SEC launched its investigation in 2022. 
The project emphasized that the SEC demonstrated a lack of understanding of blockchain, which resulted in inaccurate information and unjust accusations. 
Specifically, the SEC claimed that CyberKongz should have registered with the agency for having a blockchain game alongside an ERC-20 token. Additionally, CyberKongz revealed the SEC misinterpreted its contract migration for Genesis Kong NFTs in April 2021 for a token sale. 
“If they cannot distinguish between a primary sale and a contract migration, what hope do we currently have for a clear regulatory pathway going forward?” CyberKongz quizzed. 
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