Headlines
▌MicroStrategy's stock price has risen 477% this year, second only to AppLovin among U.S. tech companies with a market value exceeding $5 billion.
According to FactSet data, from the beginning of 2024 to the close last Friday on December 20, MicroStrategy's stock price has risen 477%, second only to AppLovin among all U.S. tech companies with a market value exceeding $5 billion. Previously, the company's stock price rose 346% in 2023.
On Monday, MicroStrategy stated in a filing that over the past week, the company acquired 5,262 bitcoins for approximately $561 million, at a price of $106,662 per bitcoin. This brings the company's total holdings to 444,262 bitcoins.
▌Aave considers integrating Chainlink SVR service.
According to a proposal in the Aave governance forum, Aave is considering integrating a new Chainlink oracle—Smart Value Recovery (SVR), which aims to redistribute profits from front-running trades back to DeFi users.
Chainlink's Smart Value Recovery (SVR) is an oracle service designed to extract profits from Maximum Extractable Value (MEV) for the benefit of DeFi protocols. Aave estimates that SVR can capture about 40% of MEV profits, which can be redistributed to Aave DAO for the benefit of users.
Market
As of press time, according to Coingecko data:
The recent transaction price of BTC is $94,380.70, with a daily change of -0.6%;
The recent transaction price of ETH is $3,399.99, with a daily change of +3.9%;
BNB is currently priced at $689.08, with a daily change of +6.3%;
SOL is currently priced at $188.93, with a daily change of +5.3%;
DOGE is currently priced at $0.3224, with a daily change of +3.6%;
The recent transaction price of XPR is $2.25, with a daily change of +2.5%.
Policy
▌Pro-crypto lawmaker Bernie Moreno appointed to the Senate Banking Committee.
Pro-cryptocurrency senator-elect Bernie Moreno (R-Ohio) has been appointed as a member of the Senate Banking Committee. The Senate Banking Committee could become key for the launch of cryptocurrency-related legislation in 2025, as it has jurisdiction over two key agencies: the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. Other pro-cryptocurrency lawmakers, including Senator Cynthia Lummis (R-Wyo), have been assigned to remain on the committee.
The full Senate is expected to confirm these appointments early in the next Congress. According to the statement, Moreno has also been appointed as a member of the Senate Committee on Commerce, the Senate Budget Committee, and the Senate Committee on Homeland Security and Governmental Affairs.
▌The IRS states that cryptocurrency staking should be taxed in a lawsuit.
The IRS stated in a lawsuit that staking cryptocurrency should create an immediate tax obligation upon completion.
The IRS rejected a lawsuit filed by cryptocurrency investor Joshua Jarrett in the U.S. District Court for the Middle District of Tennessee. The lawsuit involves tax treatment for staking, which is the process of generating new tokens by using existing tokens and computing power to verify currency transactions. In a response on December 20, the IRS denied that staking creates new property and argued that the taxpayer (Jarrett) should pay taxes on the value of the tokens received as staking rewards.
▌Grayscale submits Grayscale Horizen Trust (ZEN) 8-K form to the SEC.
According to market news, Grayscale has submitted a Grayscale Horizen Trust (ZEN) 8-K form to the U.S. Securities and Exchange Commission (SEC).
Blockchain applications
▌MoonPay is in talks to acquire the cryptocurrency payment platform Helio for $150 million.
According to Fox Business News reporter Eleanor Terrett, cryptocurrency payment service provider Moonpay is in talks to acquire Helio for approximately $150 million, which would be MoonPay's largest acquisition to date.
Helio is an alternative to Coinbase Commerce, providing a self-service cryptocurrency payment platform that enables content creators and e-commerce merchants to receive payments in cryptocurrency. It currently offers a 'white label solution' that includes trading infrastructure for Solana Pay and DEX Screener.
▌Crypto.com launches sports prediction market in the U.S.
Crypto.com announced the launch of a sports event prediction market in the U.S., allowing American customers to bet on sports events using various cryptocurrencies, starting with the Super Bowl. If predictions are correct, payments can be received within one business day after settlement.
Company spokesperson Matt David stated that the product will leverage Crypto.com's visibility among U.S. sports fans to serve an increasing number of cryptocurrency traders looking to bet on the outcomes of real-world events.
Cryptocurrency
▌Robinhood CEO: The company has discussed the issue of establishing Bitcoin reserves internally.
Robinhood CEO Vladimir Tenev stated during his appearance on Anthony Pompliano's podcast that the company has discussed holding Bitcoin internally, but there are no plans to maintain BTC reserves. He said, "We won't rule out this possibility. So far, we haven't done this, and we are not in the investment management business."
The CEO continued to state that, although Robinhood has not followed in the footsteps of companies like MicroStrategy and Tesla by including Bitcoin on their balance sheets, the company's stock price "has been highly correlated with Bitcoin even without including Bitcoin in our inventory." Robinhood's stock (ticker: HOOD) has risen 202% this year, while Bitcoin's return rate so far this year is 110%.
▌Analysis: There have been at least three 20% declines in previous bull markets; this correction has not yet reached that level.
The Block CEO Larry Cermak pointed out on The Scoop podcast that there have been at least three 20% declines in previous crypto bull markets, saying: "Even the recent decline has not reached 20%. In historical bull markets, this usually happens once or twice, sometimes even three times. It can clear excessive leveraged positions in the market and build momentum for the next rise."
Larry Cermak added: "Clearing excessive leverage is beneficial. Of course, bull markets often end this way."
▌Santiment: When retail investors panic sell, whales and sharks buy in at lower prices, triggering market rebounds.
Cryptocurrency market research firm Santiment posted on X platform that the cryptocurrency market further corrected this week, triggering panic among retail investors. In particular, Bitcoin and Ethereum faced significant panic selling from new traders who entered the market in the past 2-3 months. These new traders have not experienced medium-sized corrections and feel panic in an unfamiliar foreign market environment. Historically, when retail investors panic and start selling, whales and sharks usually seize the opportunity to buy more coins with less resistance, triggering a price rebound that may not happen immediately but indicates that market conditions are moving in the right direction.
▌Virtuals Protocol ecological tokens surged, with GAME rising 69.5% in 24 hours.
Golden Finance reports that market data shows a general rise in Virtuals Protocol ecological tokens, among which:
AIXBT is currently priced at $0.3324, with a 24-hour increase of 21.5%;
GAME is currently priced at $0.2601, with a 24-hour increase of 69.5%;
LUNA is currently priced at $0.1128, with a 24-hour increase of 32.3%;
Market volatility is high; please ensure risk control.
▌Today's fear and greed index rises to 73, remaining in the greed category.
Today's fear and greed index rises to 73, remaining in the greed category. Note: The fear index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media heat (15%) + market surveys (15%) + Bitcoin's share in the overall market (10%) + Google Trends analysis (10%).
Important economic dynamics
▌The U.S. 10-year Treasury yield rose to 4.597%.
The U.S. 10-year Treasury yield rose to 4.597%, the highest level since May 30.
▌The Federal Reserve will seek public input on adjustments related to bank stress tests.
The Federal Reserve stated on Monday that Wall Street banks will have the opportunity to comment on a series of adjustments to the Fed's annual bank stress tests. The Fed indicated it would seek public input on the models used to determine banks' assumed losses and revenues under stress conditions. The reform proposals also include averaging the results of the two-year tests to reduce the annual variability of capital requirements caused by stress tests. The Fed stated in a press release: "These proposed adjustments will not have a material impact on overall capital requirements." The Fed analyzed the current stress tests and decided to adjust them to improve resilience. Regulators plan to initiate a public consultation process on potential adjustments to the stress tests in early 2025.
Golden Encyclopedia
▌What is Ripple Labs' RLUSD stablecoin?
RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to provide a stable digital currency for transactions and trading. As a stablecoin pegged to the U.S. dollar, 1 RLUSD is equivalent to 1 dollar. Each RLUSD maintains a 1:1 peg. The collateral for these assets is either U.S. dollar deposits or cash equivalents.
Disclaimer: Golden Finance, as a blockchain information platform, provides articles for informational reference only and does not constitute actual investment advice. Please establish a correct investment concept and be sure to enhance risk awareness.
