Weekly Crypto Market Wrap December 2-8, 2024
December is confidently carrying forward November’s momentum, bringing joy to crypto enthusiasts. BTC hit a new all-time high of $104,630, while crypto investor Isaac Miller recreated his legendary viral video 11 years later, reminding us that patient HODLers are eventually rewarded. Let’s break down the highlights of the past week:
Trump Names a “Crypto and AI Czar”. Donald Trump announced plans to appoint former PayPal executive David Sacks as the “Crypto and AI Czar.” One has to wonder: will his LinkedIn profile now feature the title “Crypto King”?
MicroStrategy buys more BTC. MicroStrategy is back in action, purchasing 15,400 BTC at an average price of $95,976. Michael Saylor seems convinced that the best way out of a crisis is to double down on Bitcoin.
Florida’s bold BTC plan. Florida is preparing to surprise the world by launching a strategic BTC reserve in Q1 2025. Things are getting so serious that the “Crypto Mai Tai” cocktail might soon become the state’s official drink.
ETH ETFs outshine BTC. An impressive $428 million flowed into spot ETH ETFs on December 5, surpassing BTC ETFs for the first time. Could this signal the start of a massive Ethereum rally?
Grayscale pushes for a SOL ETF. Grayscale has applied to the SEC to convert its SOL Trust into a SOL ETF. What’s your bet on the next altcoin to make the leap?
Coinbase cuts SEC ties. Coinbase’s CEO announced that the exchange will no longer collaborate with companies employing former SEC officials. Gary Gensler’s legacy seems destined to linger in the crypto community’s memory.
Mt. Gox comes back to life. The infamous Mt. Gox exchange suddenly “came alive,” transferring 27,871 BTC (worth $2.86 billion) to an unknown wallet. Prepare for another wave of conspiracy theories!
CZ predicts altseason. Changpeng Zhao cheered the market, declaring that altseason has already begun. Will we see 3x, 5x, 10x returns—or is the market headed downward instead?
SEC shake-up. In political news, Trump selected Paul Atkins as the next SEC Chairman. Could reforms be on the horizon?
Upcoming major token unlocks:
CHEEL: $199.59m
APT: $157.21m (2.1%)
STRK: $46.93m (2.8%)
ADA: $42.99m (0.1%)
SEI: $36.29m (1.4%)
ZKJ: $30.15m (30.0%)
Stay tuned for more updates as the Crypto World continues to evolve at a breakneck pace!
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.
