Trump's election victory drove cryptocurrency trading volume to a three-year high in November.
In November, monthly cryptocurrency trading volume reached a three-year high, driven by Donald Trump's election victory earlier this month, and new hopes for more favorable cryptocurrency regulations. According to data shared by cryptocurrency market tracking agency NewHedge, the spot cryptocurrency trading volume in November reached $2.9 trillion, the highest level since May 2021.
10x Research: South Korea's cryptocurrency market retail trading volume has surged, with altcoins currently the focus of the market.
10X Research's latest report shows that trading activity has changed significantly since Trump's election. With seven weeks until the inauguration, early appointments have already indicated a major shift towards a cryptocurrency-friendly U.S. government. This trend is expected to continue and may expand trading opportunities. Governments in other countries, especially the South Korean government, have also taken a more favorable stance towards cryptocurrencies. As the U.S. leads in establishing cryptocurrency regulations or easing regulations, a wave of increased global cryptocurrency friendliness is expected to follow. Alpha tokens among smaller cryptocurrencies may continue to grow. In the past 24 hours, South Korea's cryptocurrency market saw retail trading volume surge to $18 billion, marking the second highest level this year, surpassing the local stock market's $14 billion trading volume. It is clear that action is focused on the altcoin market, and everyone needs to have a strategy to capture these waves while maintaining discipline. Currently, altcoins are the focus of the market.
Federal Reserve's Williams: The Fed is expected to further lower interest rates.
Federal Reserve Bank of New York President Williams stated on Monday that as inflationary pressures continue to ease, the Federal Reserve may further lower its interest rate target. Speaking at a meeting of the Queens Chamber of Commerce in New York, Williams said, 'Monetary policy remains in a restrictive range to support a sustainable return to the 2% inflation target.' Looking ahead, 'I expect that, over time, continuing to move towards a more neutral policy setting will be appropriate,' Williams said, adding that the policy path will depend on data. 'If there's one thing we've learned in the past five years, it's that the outlook remains highly uncertain.' Williams did not provide clear guidance on the timing of interest rate cuts or whether he believes the Fed will lower its interest rate target at this month's FOMC meeting.
Bitcoin mining difficulty has increased by 1.59% to 103.92T, reaching a new historical high.
Data shows that Bitcoin mining difficulty encountered an adjustment at block height 872,928 (2024-12-02 23:34:00), with the mining difficulty increasing by 1.59% to 103.92 T, reaching a new historical high. The current average network hash rate is 726.57 EH/s.
The on-chain transaction volume of stablecoins reached $1.17 trillion after the November adjustment, an increase of 30.7%.
According to TheBlock analyst Lars, the on-chain transaction volume of stablecoins reached $1.17 trillion after the November adjustment, an increase of 30.7%; the supply of stablecoins increased by 12% to a new high of $167.2 billion, with USDT and USDC market shares at 79.9% and 17.4%, respectively.
MicroStrategy's total Bitcoin holdings have reached $38 billion.
MicroStrategy has purchased an additional $1.5 billion worth of Bitcoin, marking the fourth consecutive week that this crypto hedge fund has bought Bitcoin. According to a document from the U.S. SEC, MicroStrategy acquired 15,400 Bitcoins from November 25 to December 1. Since November 11, the company has purchased over $13.5 billion worth of Bitcoin and currently holds about $38 billion in Bitcoin.
BlackRock and MicroStrategy have become the two entities holding over 400,000 BTC.
According to Trader T's monitoring, the current distribution of Bitcoin is: - 2 entities (BlackRock and MicroStrategy) hold over 400,000 Bitcoins, accounting for 2% of the existing 19,893,231 Bitcoins; - Bitcoin ETFs account for about 6% of the total supply (up 1% in the past 5 months); - 5.4%, with 1,106,775 Bitcoins yet to be mined (valued at about $10.6 billion at today's prices).
MicroStrategy: There are still $11.3 billion worth of stocks available for sale.
According to the 8-K document provided by MicroStrategy to the U.S. SEC, MicroStrategy reported selling 3.7 million shares of stock, netting $1.48 billion, and still has $11.3 billion worth of stock available for sale. As of December 1, the company holds approximately 402,100 Bitcoins.