Weekly Crypto and Macro Recap – December 20, 2024
Macro & TradFi Updates
MicroStrategy Hits New Milestone
MicroStrategy added $1.5B worth of Bitcoin this week, increasing its total
holdings to 439,000 BTC (~$47B).
The company's stock is set to join the Nasdaq-100 index on Dec. 23,
potentially driving automated ETF buying.
MicroStrategy’s stock has already seen a ~500% YTD rally.
U.S. Federal Reserve
The Fed cut interest rates by 25bps, lowering the target range to 4.25–4.5%.
This marks a total reduction of 1% since September, with the Fed signaling
slower cuts in 2025.
The SEC approved dual Bitcoin and Ethereum ETFs from Hashdex and
Franklin Templeton, signaling increasing institutional interest.
Osprey Launches BNB Fund
Osprey Funds introduced the Osprey BNB Chain Trust, the first U.S. publicly
quoted fund based on the BNB token.
Crypto Sector Highlights
L1 & L2 Developments
Avalanche9000 Update
Avalanche’s largest-ever update includes lower transaction fees and
streamlined Avalanche L1 launches (formerly called subnets).
This follows a $250M locked token sale.
Sonic Labs Mainnet Launch
Sonic, Fantom’s new EVM-compatible L1, launched its mainnet with Fee
Monetization rewards developers with up to 90% of network fees.
NFT Market Moves
Pudgy Penguins ($PENGU)
Pudgy Penguins’ token launched with an airdrop to 780K addresses.
Floor price surged to an ATH of 35 ETH before dropping to ~17 ETH post-
airdrop.
Doodles Floor Price Pumps
The founder of Doodles hinted at a token launch, driving a 60% floor price increase for the NFT collection.
Stablecoin News
Ethena Launches USDtb
USDtb, backed by BlackRock & Securitize’s money market fund, offers a
more traditional stablecoin model.
Ripple’s RLUSD Launch
Ripple introduced its RLUSD stablecoin, with a current market cap of $55M,
though CEX integrations remain limited.
Other Notable Updates
Plume Network
Plume Network raised $20M Series A to build an EVM-compatible L1 for
RWA tokenization, is set to launch in 2025.
Eliza Labs Partnership
The team behind the ai16z DAO and the Eliza token partnered with Stanford
University to explore AI agents’ impact on DeFi.
Key Takeaway
This week showcased rapid advancements in crypto adoption and innovation, from
stablecoins and NFT ecosystems to layer-1 upgrades and institutional crypto
products. With 2025 around the corner, crypto’s integration into TradFi and the
broader economy continues to accelerate.
What are your thoughts on this week’s developments? Let us know below! 🚀
#CryptoRecap #MacroUpdate #Bitcoin
This is not financial advise. DYOR