Daily market update (December 16, 2024, 10:35 AM)
According to ChainDD's December 16 market update, the comprehensive index of ChainDD and CoinMarketCap quotes:
BTC is reported at $99,522.71, down about 0.35%;
ETH is reported at $3,908.64, up about 2.20% in 24 hours;
BNB is reported at $709.86, down about 0.55%;
DOT is reported at $9.11, down about 0.10% in 24 hours;
DOGE is reported at $0.406, down about 1.57% in 24 hours.
Crypto market dynamics
The Salvadoran president posted a screenshot of BTC gains, with a current floating profit of about $362 million.
Salvadoran President Nayib Bukele posted a screenshot of his BTC asset gains on social media, showing the country's total investment in Bitcoin is approximately $270 million, with a current floating profit of about $362 million, yielding a return of 133.95%.
The Financial Accounting Standards Board allows companies to report BTC at fair value on their balance sheets.
According to The Bitcoin Historian, the Financial Accounting Standards Board (FASB), responsible for establishing generally accepted accounting principles (GAAP) for U.S. publicly traded companies, allows companies to report BTC at fair value on their balance sheets.
Once this rule is passed, companies can represent unrealized floating profits through the mark-to-market method (MTM), displaying potential speculative gains in quarterly and annual financial reports.
Bitcoin solidifies a seven-week upward trend, creating the longest weekly consecutive rise since 2021.
Aya Kantorovich, co-founder of institutional crypto platform August, stated that many people are 'basing their expectations on a more favorable regulatory environment from the U.S. government.' She added that this optimism is reflected in the demand for exchange-traded funds for investing in digital assets.
As of last Sunday, Bitcoin solidified a seven-week upward trend, marking the longest consecutive rise since 2021. However, the recent momentum has slowed, which may indicate that 'a correction may be imminent,' wrote IG Australia Pty market analyst Tony Sycamore in a report.
Since Trump won the presidential election on November 5, U.S. ETFs directly investing in Bitcoin have attracted a net inflow of $12.2 billion. During the same period, similar products for Ethereum saw a net inflow of $2.8 billion.
Michael Saylor hints that MicroStrategy may first increase its BTC holdings at an average price exceeding $100,000.
MicroStrategy founder Michael Saylor hinted that the company may soon increase its BTC holdings at an average price exceeding $100,000.
Over the past three Mondays from November 25 to December 9, MicroStrategy bought BTC at average prices of $97,862, $95,976, and $98,783, respectively, according to SaylorTracker data, having purchased BTC worth between $1.5 billion and $5.7 billion in the last three batches. If another batch of BTC reaches the upper limit of that range, the company could achieve a $50 billion BTC portfolio. As of December 15, the company holds 423,650 BTC, worth over $43.6 billion.
The Pudgy Penguins community leader hinted at no intention to compete with CryptoPunks.
Berko, community leader of the blue-chip NFT project Pudgy Penguins, hinted on the X platform that there is no intention to compete with CryptoPunks, stating: 'It's never punks vs. penguins, but always punks and penguins.'
CZ: Binance invests in Twitter to support freedom of speech.
Binance co-founder CZ stated on X that Binance's investment in Twitter is based on four reasons:
1. To support freedom of speech;
2. To support (small) entrepreneurs vs. (large) entrepreneurs;
3. To invest in tools I use myself;
4. To align missions: bringing Web2 into Web3.
Proud to fund cryptocurrency to social platforms.
