📰 Blockchain Morning Report - December 5, 2024 📷 Follow for exclusive insights into the latest developments in the crypto space, not to be missed.
1⃣ Market Dynamics
🌕 Bitcoin ($BTC): Once again attempting to break through the $100,000 mark, attracting 690,000 viewers on Twitter. Powell refers to Bitcoin as digital gold, not a competitor to the dollar. Bitfinex analysts point out that Bitcoin needs new buyers to absorb the selling pressure from long-term holders to break through $100,000. CryptoQuant data shows retail investor demand for BTC has reached its highest level since 2020.
🌖 Ethereum ($ETH): Approaching a new yearly high, the entire Ethereum ecosystem is performing strongly, especially DeFi projects such as $CRV, $AAVE, and $COMP are excelling.
🌗 Ethereum Foundation's Perspective: Researchers state that Solana's golden age is coming to an end and will not pose a threat to Ethereum.
🌘 Solana ($SOL): On-chain wealth creation activities continue, @pumpdotfun is still unloading, with significant unlocks expected in the future.
🌑 BinanceCoin ($BNB): Nearly reached $800 yesterday, boosting the BNBChain ecosystem coins, but then pulled back 510%.
2⃣ Industry Hotspots
🌒 $TRX: JustinSun's project is waiting for further action after experiencing a one-day surge.
🏢 CEX Trading Volume: In November, centralized exchanges (CEX) reached a trading volume of $2.71 trillion, setting a new high since May 2021.
📢 Politics and Regulation: U.S. Congressman Hill pledges to investigate the issue of cryptocurrency de-banking. Trump nominates Paul Atkins as SEC chairman, impacting market sentiment.
⚖ Legal Actions: The U.S. sanctions TGR Group and its leaders, freezing $8 million in cryptocurrency.
💫 Circle: Becomes the first stablecoin issuer to commit to adhering to Canada's new listing rules.
💼 KULR: Announces the execution of a Bitcoin financial strategy, allocating 90% of surplus cash to Bitcoin.
3⃣ Industry Trends
📺 Crypto Viewership: Influencer content related to cryptocurrencies on YouTube has reached a 12-month high in viewership.
📈 U.S. Stock Performance: The three major indices closed at historic highs, with cryptocurrency-related stocks generally rising.
📉 Compliance Sector Pullback: $XRP and $HBAR lead the decline, market observes whether it is a pullback or the end of the trend.
💬 Putin's View on Bitcoin: Putin stated that no one can ban Bitcoin, and everyone is working to reduce costs and increase reliability.
💳 Coinbase Premium: Demonstrates strong purchasing power for cryptocurrencies in the U.S. market.
📉 Federal Reserve Policy: CME data shows the probability of a 25 basis point rate cut by the Federal Reserve in December has risen to 77.5%.
