Overview of the Crypto Market on December 9, 2024

The Crypto market today recorded notable developments as Bitcoin (BTC) continues to fluctuate around the $100,000 mark.

• Price $BTC : Currently trading at $99,900, a slight increase of 0.3% in the last 24 hours.

• BTC Market Cap: Reached approximately $1.98 trillion.

• Trading Volume: Decreased to $61 billion, indicating caution from investors.

On the Binance exchange, the group of Ethereum ecosystem coins continues to lead the upward trend:

• $SUSHI: Up 28%.

• $PEPE: Up 11%.

• #SNX : Up 9%.

Notable Events

1. Spot BTC ETF Fund in the US

• Last week (December 2 - December 8), net inflows into Spot BTC ETFs reached over $2.7 billion.

• In particular, BlackRock's IBIT fund contributed 86%, equivalent to $2.3 billion.

2. #ETH Hits New High in 2024

• ETH price surpassed the $4,000 mark for the first time since March 2024, thanks to strong inflows into ETH ETFs ($836 million, the highest in history).

• Ethereum ecosystem tokens like UNI, AAVE, DYDX also recorded significant increases, triggering expectations for the return of the DeFi summer.

Other Important Information

• BTC: Microsoft is preparing to vote on December 10 regarding investment in Bitcoin.

• APT: The largest cliff unlock of the week will take place on December 11, with tokens worth $165 million.

• USDT: The total amount of USDT minted since November 6 has reached $19 billion, with $2 billion in USDT newly issued last week.

• MARA Holdings: The largest Bitcoin mining company in the US purchases an additional 1,300 BTC (average $100,000/BTC), raising its total BTC holdings to 36,259 BTC.

• Crypto Wallet Growth: According to Chainalysis, the number of wallets with positive balances has surpassed 400 million, reflecting strong market growth.