Daily Crypto Signals: Bitcoin Hits All-Time High, MicroStrategy Expands Holdings, and New Stablecoins Emerge
The crypto market surged on December 16, 2024, with Bitcoin breaking through $107,700 and setting a new all-time high, driven by MicroStrategy’s massive $1.5 billion Bitcoin purchase and growing speculation about potential U.S. government recognition of cryptocurrency as a reserve asset.
Ripple’s RLUSD stablecoin launch, Chainlink’s impressive 25% weekly rally, and emerging DeFi innovations are further fueling market excitement.
Bitcoin Crosses $107K
Rising above the $107,000 mark and establishing new all-time highs, Bitcoin BTC/USD has reached an amazing milestone. By purchasing 15,350 Bitcoin for $1.5 billion and raising its overall holdings to 439,000 BTC, MicroStrategy notably helped to create this momentum. There is increasing conjecture over possible official acceptance; some experts even propose that Bitcoin could be assigned reserve asset status.
Market commentators are positive; independent researcher Timothy Peterson projects based on exchange-traded fund (ETF) inflows Bitcoin might hit $115,000. Daily network movements of over $3 billion show a significant demand for the bitcoin in the market.
XRP Rallies as RLUSD Set to Launch Today
XRP/USD ecosystem is attracting fresh attention; Xaman wallet shows a 250% weekly active user increase. Starting on December 17, Ripple is planned to release its RLUSD stablecoin initially available on Uphold, MoonPay, and others. The stablecoin launch is accompanied by high-profile advisory board appointments, including former central bank governors.
Chainlink to Test $60?
Rising 25% in the previous week and almost reaching possible new pricing targets, Chainlink LINK/USD has shown outstanding success. Forecasts differ among analysts; some indicate a possible surge to $60 while others keep more cautious projections. The LINK token has attracted significant whale interest, with a recent $4.94 million purchase.
Ether.fi’s New Proposal
Suggesting allocating 5% of protocol income to purchase back and distribute ETHFI tokens to stakers, Ether.fi has proposed a new value accrual method for its tokenholders. With around $10 billion in total value locked, this top liquid restaking system seeks to improve token utility and match user incentives.
Ethena Launches New Stablecoin
Launching USDtb, a new stablecoin backed by BlackRock’s BUIDL fund, Ethena is broadening its products. Apart from providing a distinct risk profile for customers, the stablecoin seeks to give the current USDe token stability. With around $6 billion in user money and recent interest from crypto-oriented investment firms, the protocol has gained notable attention.
ABOUT THE AUTHOR
See More
Sidebar rates
Add 3442
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals